Blockchain could be the change that will disrupt the entire global energy sector. The global energy sector is reportedly worth over 2 trillion US dollars and is largely monopolized by a handful of companies but as more people understand the freedom that comes with blockchain technology, the demand for better control over our own energy consumption arise.
When applied to the energy sector, blockchain will make renewable energy trading among people possible. Tokenizing renewable energy enables hydro, wind, and solar power producers to connect with investors seamlessly. Blockchain technology will decentralize the energy sector as rates will no longer be defined by the companies that supply energy but by the market as energy tariffs will be a tradable commodity that depends on the demand and supply of the electricity market. The middlemen are removed and the public will be able to enjoy cheaper energy. This will introduce a fundamental shift in the energy distribution. This shift will incentivize more renewable energy initiatives which ultimately propels our transition from carbon-emitting non-renewable energy.
Some of the top cryptocurrency projects currently disrupting the energy market are:
Disclaimer: The purpose of this list is not to pick the ” best ” cryptocurrency. The fundamental purpose of this list is to encourage community engagement and intellectual debate among the supporters of different cryptocurrency projects. We provide a third-party platform that hopefully makes people think. Too many times people are blinded by the community enthusiasm in official social media channels of individual projects and fail to see through the veil. By bringing supporters of different projects together, we hope to unravel the actual value and sentiment of each project via civilized debates. p.s. Nothing in this article should be treated as financial advice.
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SunContract is the first blockchain energy powered peer-to-peer platform that is giving individuals the power to freely buy, sell, and trade electricity directly with another making the system completely self-sufficient. This system disrupts the conventional power generator and distribution system as it gives the consumer the power to buy electricity at a negotiable price. Currently, it is operating in Slovenia but plans to spread throughout Europe.
- Ticker Symbol: SNC
- Token Type: ERC20
- Website: https://suncontract.org/
- Whitepaper: Sun Contract Whitepaper
Pylon is a network developed with only a single purpose in mind: to establish an open community that enables exchange of renewable energy. It aims to provide the P2P Distributed Green Energy Market with the financial incentives as well as signals that the current governance systems and energy policies are incapable in providing.
Power Ledger is the world leading peer-to-peer renewable energy platform that is capitalizing on blockchain technology to build a decentralized, democratized electricity platform that enables residents to sell and trade renewable energy such as solar power to their neighbors without intermediaries.
- Ticker Symbol: POWR
- Token Types: ERC 20
- Website: https://powerledger.io/
- Whitepaper: Power Ledger Whitepaper
WePower is a blockchain based green energy finance and trade platform that enables the tokenization of renewable and sustainable energy. The WPR token will represent the quantity of energy the producer intends to produce and distribute. This peer-to-peer system allows the producer to deal directly with green energy buyers or potential investors at a cheaper market value. The Australian based energy company also aims to fuels the production of renewable energy by enabling developers to sell their energy production upfront in order to raise necessary capital. This could be done in the form of tradable Smart Energy Contracts.
With over 60% of the world’s population living in Asia, the need for a system of energy distribution system that consumers can fully participate and control matters. Electrify Asia is the first electricity retail market in Southeast Asia that is tackling transparency, security, and distribution in the energy sector since 2017.
This is the future of home electricity. The GRID uses technology and computerization to allow homeowners to get efficient electricity services at low cost from a simple mobile app. The grid+ will help consumers enjoy greener and cheaper electricity with the help of a simple gadget that assists you to buy and sell electricity on your behalf at the cheapest price. This automated system allows all unused power return to the grid.
Energo labs is the future of energy production and distribution, originated in Singapore, it uses a decentralized app for the measurement, registration, transaction, and settlement of clean energy from peer-to-peer, machine-to-machine, and vehicle to micro-grid. With Energo, consumers are provided with clean and efficient energy supply at an affordable price.