The coming energy revolution will require a transformation of the electricity grid. The Blockchain could provide a decisive contribution. The US company LO3 Energy is already developing solutions for this area.
By Anton Livshits
13. July 2019BTC$11.461,00 -0.95%part Facebook Twitter LinkedIn xing mail
requires The upcoming energy transition innovative technological solutions. Finally, the Vision of a decentralized network of producers leads of renewable energy to the Problem of their coordination. The Blockchain technology seems to be predestined for such tasks. Consequently, it is hardly surprising that the New York Start-Up LO3 Energy is working on a block chain-based solution for the energy distribution.
The company developed for this purpose, a “transaction-based energy platform”. For LO3 by the oil giant Shell and Japanese Sumitomo Corporation received the syringe, now apparently a hefty financial. This is from a press release. The exact amount of the Investments is unclear.
kirk Coburn, Investment Director at Shell Venutres, justified this step with the need to make a contribution to the energy turnaround:
On the way in a less-carbonized future, wants to invest in Shell in innovative companies, which allow energy to change. LO3 Energy fits exactly in this area.
well-known companies such as Siemens, Braemer Energy Ventures and Centrica had previously been in LO3 invested.
LO3 CEO stresses the need for a reorganization of the power grid
LO3 Energy is looking into Ways of decentralized energy generators, such as small power plants or wind turbines, into the electricity network. Lawrence Orsini, CEO of LO3 stressed in this regard the enormous potential of renewable and decentralised energy. In order to exploit this potential, however, is a “reinvention” of the electricity networks is necessary. The investment would help his company to make a contribution to this process:
This investment will help us accelerate the Development of low carbon micro-grids, which will help all Concerned to distributed, decentralized and dekarbonisierte local energy transactions and energy management at the level of individual buildings to strive for.
Specifically developed LO3 a block chain-based energy-App for the Smartphone. Users enter their preferences over the use of available energy resources. You can thus choose which providers you power want to buy.
The current flows through the ordinary power grid. The Blockchain platform, taking care, however, to the choice of the energy source and the payment by the Smart Contract. The authors of the press release mention a lot of possible Use Cases, such as “Peer-to-Peer energy trading, energy hedging for companies, virtual power plants, dynamic charging of electric vehicles and demand response.”
LO3 is worldwide involved in projects in the USA, the UK, Canada and Japan. In this country, however, is research on the possibilities of the Blockchain for the power grid. The German energy Agency (dena) found that the use of the Blockchain here today makes sense.
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