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.
The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
Central Bank Of Japan Examines Digital Currencies According To New Report
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
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