Power Ledger’s Blockchain Energy Platform Now Live In Fremantle
Fremantle, a coastal city in Australia has kicked off a trial that will allow some residents to trade solar power on a blockchain-based platform provided by renewable energy-focused crypto startup Power Ledger.
Ben Wyatt, the Minister for Finance, Energy and Aboriginal Affairs in the government of Western Australia said around 40 households in Fremantle will participate in the trial that will end next year in June.
During the trial, households will enjoy the flexibility of determining the price at which they are willing to purchase and sell solar power for and then conduct the transactions on a blockchain-enabled platform.
“The trial represents an innovative solution to virtual energy trading that may have implications for energy utilities working to balance energy supply and demand all over the world,” Wyatt said in a statement. “These households are believed to be the first in the world to be taking part in an active, billed, peer-to-peer trading trial that allows them to effectively buy and sell solar energy generated by their rooftop system across the grid.”
The preliminary is a piece of the Reestablish Nexus Venture that has united different elements including Force Record. The Reestablish Nexus venture was started with a perspective of investigating how future urban communities can utilize blockchain innovation and huge information to incorporate disseminated vitality and in addition water frameworks foundation.