In the cryptocurrency news today, we are focusing on the notable blockchain project Power Ledger and its launch of a peer-to-peer trading product for renewable energy. In the wake of the launch, Power Ledger said that it will launch with American PowerNet at their home base in Pennsylvania.
As a blockchain-based solution for renewable and cost-effective energy, Power Ledger also has its own cryptocurrency (the POWR token) and as their website reads, envisions “an economy where households that generate electricity can trade with their neighbours and get a fair return on their investment. Where electricity is stable, affordable and available to everyone.”
The launch of Power Ledger’s peer-to-peer (P2P) renewable energy platform was also covered in a press release by Business Wire, which labeled that the launch will occur with the licensed retail electric provider American PowerNet at its headquarters in Wyomissing, Penn.
As stated on their website, American PowerNet is best described as “an independent power supply company providing retail and wholesale electric supply services throughout the United States” which operates on the bleeding edge of the industry which includes blockchain application.
The press release also explains that American PowerNet will employ the xGrid platform by PowerLedger – which will allow American PowerNet to swap solar energy (absorbed from the buildings) with nearby associated neighbours which will reduce carbon emissions and the cost of electricity.
We're excited to announce the deployment of our P2P renewable energy trading platform in the largest U.S. wholesale electricity market, alongside American PowerNet and CEBN.https://t.co/SNx28CnsIQ
— Power Ledger (@PowerLedger_io) November 13, 2018
The president of American PowerNet, Scott Helm, officially stated:
“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors”.
Power Ledger is currently partnered with the Clean Energy Blockchain Network (CBN) which will also help with the launch. As the press release notes, the launch will occur this month and the operation will work with current meters and data so that new hardware, software and effort is not necessary.
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