It's easy to take electricity for granted for those who live in an energy-hungry urban center, but 'Power Ledger' is proving that there's plenty of improvements that can still be made to create the most efficient and environmentally friendly power supplies. The newly commercialized energy trading company makes use of the blockchain to create a more demand-centric power system that ultimately improves the distribution of power across urban areas.
Power Ledger effectively allows independent energy purchasers to trade power with one another. Many areas receive more power from the grid than they need. That means that they both pay for more electricity and waste it once they have it. Power Ledger allows those actors to securely sell their energy to others on the blockchain.
Blockchain-Based Energy Trading
'Power Ledger' Offer P2P Energy Trading in Chicago
Trend Themes
1. Peer-to-peer Energy Trading - Utilizing blockchain technology, peer-to-peer energy trading allows individuals to trade excess electricity and reduce waste.
2. Demand-centric Power Systems - By leveraging blockchain, demand-centric power systems improve the distribution of power in urban areas.
3. Commercialized Energy Trading - The commercialization of energy trading platforms like Power Ledger revolutionizes the way energy is bought and sold.
Industry Implications
1. Energy Trading - The energy trading industry is disrupted by blockchain-based platforms which enable peer-to-peer transactions and reduce reliance on traditional centralized systems.
2. Renewable Energy - The renewable energy industry can benefit from blockchain-based energy trading systems that encourage the production and sale of surplus green energy.
3. Technology Services - Technology service providers can embrace disruptive innovation opportunities by developing blockchain solutions for energy trading platforms, catering to the growing demand.