Here are the key ideas that you must take away from this week:
There’s a long list of factors in the global scene that claim for a change in the energy model, and during this week we have seen many relevant examples: the current electrification state of the global population is at 84%, hundreds of millions of people have gained access for the first time to modern energy over the last two decades through distribution networks, especially in China and India, EVs are expected to reach price parity with combustion engine cars by 2025 and it is known that, at some stage, it will be cheaper and more effective to self-supply than to rely on the network. In this sense, blockchain offers a solution that fits this new energy paradigm: it allows people to establish P2P energy contracts without middle-men, and brings a more flexible and adaptable system.
Power Ledger has developed a platform that offers a solution based on blockchain technology. It eliminates the old paradigm of old utility companies acting as the rulers of the sector. This new platform empowers users, giving them the decision-making capacity about their own energy consumption and production.
Offering a new energy solution based on digital currency is possible, and can be adapted to different markets and legislations.
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© EIT InnoEnergy