Overview

Blockchain technology makes peer to peer energy trade possible, as it establishes trust and reduces transactional costs. It also introduces the possibility of automation in smart grids and peer to peer trade mechanisms in the form of smart contracts. Example: A smart contract that is designed to stop energy supply to a node when the power consumption reaches a certain point.

INCREASED SECURITY

IMPROVED CONSENSUS

HIGHLY ADAPTABLE

NON DESTRUCTIBLE

Decentralized Trade

Blockchain technology sets the perfect infrastructure to move towards peer to peer energy trade. It also introduces a mechanism whereby individuals producing their energy can transact with others, without any intermediary.

Automation

Smart contracts can automatically purchase energy at the lowest available price upon consumption. This is just one of many possibilities of automation and IoT in the energy world, made possible by smart contracts.

Privacy

In the existing system, energy companies know who consumes how much. Blockchain technology can protect this information as trades are made anonymously without the consent or acknowledgment of any third party.

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