Antinuclear

Australian news, and some related international items

South Australian clean energy businesses launch power-trading platform using blockchain

Business News 23rd March 2018, A group of small and medium-size South Australian businesses plan to launch a first-of-its-kind power trading platform using blockchain technology in an attempt to save money and buy and sell local clean energy.

Blockchain-based microgrid developer LO3 Energy, of New York, is working on the project with solar and electrical firm Yates Electrical Services, of Paringa, South Australia, a region known for its vineyards, almond and fruit orchards — and incredibly high electricity prices.

The blockchain, perhaps best known as the technology behind the digital currencies Bitcoin
and Etherium, is a decentralized ledger that enables and tracks all transactions across a peer-to-peer network. The technology uses encryption to ensure that transactions and data are secure, and provides verification and validation to users.
https://www.businessgreen.com/bg/news/3029020/south-australian-businesses-launch-blockchain-app-to-cut-costs-trade-local-clean-energy

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March 23, 2018 - Posted by | business, energy, South Australia

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