The electricity world may soon be altered in unimaginable ways. Change will come in small increments thanks to so-called blockchain technologies — the ability to conduct “peer-to-peer” transactions and to eliminate the middlemen, or the ones who scoop up a notable percentage of the sale.
Clean Energy Blockchain Network and Australia’s Power Ledger are using such software to enable four buildings at Northwestern University to shift their excess solar power between and amongst each other. And in California, the same two are tracking the production and consumption of solar energy in a parking garage that is charging electric vehicles.
No Industry Immune To Blockchain Technology, Not Even The Electricity World
Blockchain technologies have the potential to revolutionize the electricity marketplace, enabling peer-to-peer transactions that eliminate middlemen. Think solar rooftop owners who want to sell their excess power to neighbors, not utilities.
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