In a financial world of stocks, bonds, foreign exchange, and credit cards, trillions of dollars are traded daily, with money flows handled by a bevy of databanks. In the world of cryptocurrency, billions of dollars worth of Bitcoin are traded through as many as 400,000 transactions per day, consuming the energy supply of a modernised country. The quirk is a “proof of work” feature that provides decentralised security. Is Bitcoin’s energy usage all for nothing, or is it a game-changer for renewable assets and generators? Tristan Rayner explores.
Global software as a service (SaaS) company, WePower, has today launched its new ‘Incite’ solution, allowing businesses to track and certify their operation’s sustainability through blockchain-enabled technology, ultimately combatting greenwashing. Australia is first cab off the rank for the Lithuanian-headquartered company’s new product suite.
Greek energy company Mytilineos and its subsidiary Metka EGN continue to put down roots in the Australian market, signing a Power Purchasing Agreement which will allow construction to commence on its 23 MW extension to Wagga Wagga North Solar Farm. The extension comes after the company was fined in January for breaching its Aboriginal Heritage Impact Permit by commencing works without first notifying Heritage NSW, leading to the destruction of Indigenous artefacts.
Iconic Australian beer Victoria Bitter has partnered with Diamond Energy and Power Ledger to develop Solar Exchange, a blockchain-enabled platform that allows residential PV owners to exchange their excess solar for cases of beer. This is not an April Fool’s prank, miracles do happen, stay calm and exchange your excess solar for slabs!
WePower has delivered its blockchain-enabled Elemental technology to Mojo Power for the establishment of the Mojo Marketplace, an online shopping setup whereby businesses and industry can shop for locally sourced renewable energy retail contracts.
Power Ledger is slated to roll out its blockchain-enabled energy trading software in the North American market following a successful trial with private electricity provider American PowerNet (APN).
Western Australian tech startup Power Ledger and Thai renewable energy company BCPG are expanding their partnership with the creation of a Renewable Energy Certificate marketplace for SE Asia on Power Ledger’s peer-to-peer blockchain platform.
An Australian government-backed trial of peer-to-peer (P2P) solar trading has demonstrated the potential of localized two-sided energy markets and blockchain technology to improve the energy system. However, current electricity tariff structures would need to be modified to realize the full stack of values that this technology has to offer.
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