Blockchain P2P Solar Energy Trading Goes Live in India

Blockchain P2P Solar Energy Trading Goes Live in India
фото показано с : beincrypto.com

2019-12-2 13:53

Uttar Pradesh, the largest state in India by landmass and population, has become the first in the country to launch a blockchain-powered solar energy trading infrastructure.

The pilot project will see state government buildings generating electricity using solar rooftops — which will then be sold to neighboring households and office spaces using Power Ledger’s blockchain platform.

The move signifies the Indian government’s growing focus on blockchain adoption in the wake of neighboring China’s aggressive push into the still-nascent but thriving technology.

According to local media reports, the new initiative will be spearheaded by two state-owned bodies — including the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and the Uttar Pradesh Power Corporation (UPPCL).

Phase-1 of the pilot project, due to be completed by Q1 2020, will include only government office buildings in the state capital, Lucknow. The government has already made provisions for an adequate regulatory framework to facilitate peer-to-peer trading of solar energy. A detailed analysis of the first phase of the pilot project will also be carried out to make necessary amendments to the regulations.

For the smooth implementation of the program, the government has already sealed a deal with Power Ledger, an Australian blockchain company that specializes in decentralized renewable energy trading technology. The company’s blockchain platform will integrate with government-provided smart meters to allow households with solar rooftops to set prices and track real-time energy trading.

India Smart Grid Forum (ISGF), a government-appointed public-private partnership initiative, will be coordinating with Power Ledger to oversee the technological aspects of the new project.

Binance CEO Changpeng Zhao, who recently announced the acquisition of India’s leading cryptocurrency exchange WazirX, lauded the move as “a step in the right direction.”

A step in the right direction. PowerLedger.https://t.co/o7qQQUP81P

— CZ Binance (@cz_binance) December 2, 2019

Assuming that all goes as per plan, India plans on generating 40 Gigawatt of solar energy using solar rooftops by 2022.

Images courtesy of Twitter, Shutterstock.

The post Blockchain P2P Solar Energy Trading Goes Live in India appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Solar DAO (SDAO) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SDAO

solar blockchain india trading energy using state

solar blockchain → Результатов: 46


Power Ledger Launches a Blockchain Energy Trading Software, Virtual Power Plant, in Australia

Power Ledger, an Australian blockchain company, is launching blockchain technology in South Australia in partnership with a local energy retailer, Powerclub. With the new blockchain technology, Australians will be able to pool excess solar energy and battery storage into a Virtual Power Plant, which enhances effective management and exercises significant control over their energy. Like […]

2019-11-9 22:36


Facite ICO

Blockchain Business Model In Kazakhstan The main goal of the Facite investment project is to develop the financial and economic environment in Kazakhstan using blockchain technology. The Facite Foundation built and operates a mining center in Pavlodar, Kazakhstan based on geographical conditions, government policies, and electricity schemes for the mining industry.

2019-5-16 06:03


Japan’s Kyocera Solar Power Provider And LO3 Energy Test Blockchain Virtual Power Plants For Energy Benefits

Blockchain Technology Proves To Be Helpful In New Use Case with Power Supplier Kyocera – Energy Distribution The benefit that blockchain technology offers is that it can track nearly anything. With a code or even an identifying number, the distributed ledger can follow along with various types of products and currency. Kyocera, a solar power […]

2019-2-26 00:51


Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions

Bitcoin and its trustless, decentralized design requires a unique process called mining that validates each transaction being added to its underlying blockchain. The process involves solving complex mathematical equations, and typically requires some serious computer processing power, and even specially-designed hardware, to validate each block.

2018-12-18 20:01


Фото:

Burstcoin Burstcoin Developers Complete On-Chain Crypto Transaction without the Internet

Burstcoin developer Daniel Jones announced that he managed to complete a blockchain transaction without access to electricity or the internet. The claim first came through his Twitter account, @nixops, on September 15, 2018, where he wrote, “It is with great honor I present to you the first $burst radio transaction.

2018-10-2 17:00