visit the website of powerledger.
https://powerledger.io/
THE POWER OF POWER
The energy industry used to be simple.
Vertically-integrated utilities sat in the middle of the system, like benevolent
spiders spinning a web out to the last consumer requesting connection: they
decided where and when to build generating capacity; they decided how to
bridge the distance between generators and loads; they kept the system in
balance through the deft application of the levers available to a centralized
controlling entity.
While progressive utilities and regulators try to position themselves as
consumer-focused or consumer-centric, the reality is, even the most
progressive are only rephrasing a narrative that pushes citizens into categories
of consumers.
A TRUSTLESS TRADING PLATFORM
A trading platform is a network that allows consumers to sell energy to their
peers in a trustless environment.
It is a new component of the distributed economy that allows consumers to
realize the value of their investment in DER by allowing them to monetize their
excess energy in much the same way as Uber and AirBnb allow people to
monetize their cars and spare rooms.
And trustless?
A trading platform that requires third-party settlement and reconciliation of
millions of transactions between hundreds of thousands of traders across 5-
minute trading intervals would be almost impossible to support without a
central player taking control of all parties’ data, prescribing fees, requiring trust,
proving accuracy and binding the market up in red tape and bureaucracy. But
the blockchain is an agreement machine that can facilitate the financial
settlement of these transactions, in the same trading intervals in which the
energy is produced and consumed, and it can be achieved at a speed not
possible using current market settlement technologies.
Blockchain-enabled P2P energy trading will transform energy networks into
trading platforms and invoke a transactive economy that moves away from
bilateral retail arrangements to multi-lateral trading ecosystems, preserving
networks’ relevance to consumers.
https://powerledger.io/
https://powerledger.io/
WHAT IS BLOCKCHAIN TECHNOLOGY
Blockchain is a software innovation for establishing digital trust between users
facilitating transactions of value, over a network.
The blockchain enables trust to be distributed throughout a network, without
the need for a central intermediary to track, verify and approve the digital
exchange of value. The notion of authorizing trust from a central intermediary
currently underpins both private and government institutional structures,
however this is proving to be costly, slow, and also vulnerable to attack. The
blockchain overcomes these issues by operating as a decentralized distributed
database, maintaining a continuously growing list of records called blocks.
Trustless: a trustless system is one designed so that nobody has to trust anybody else in order for the
system to function. It makes it possible to trust the outputs of a system withouttrusting any actor
within it. Power Although blockchain technology is still an emergent one, current applications
show it can be better, more efficient and more secure than traditional systems,
which is why banks and governments globally are beginning to experiment with it.
Great enjoy a lot want to see more of this in future. @hassanab