How can Blockchain Change the Energy Industry?
Blockchain technology uses decentralized data storage to record digital transactions. Instead of having a central administrator — such as a database controlled by banks, governments, accountants, or registries — blockchain has a network of replicated databases visible to anyone on the internet.
The use of KiWi New Energy’s smart inverters as nodes for energy consumers and producers makes it possible to track consumption and payments. Smart contracts can initiate the transfer of funds between accounts based on usage data from each of these inverters, ensuring accuracy. Blockchain is intertwined with all of this, documenting the transactions and creating a reliable network of energy tracking.
In Europe, TenneT, a leading energy utility, is concerned about the limitations of conventional energy sources and decided to invest in new ways to produce and supply energy to be ready for the future increase in demand. TenneT joined forces with sonnen, in Germany, and Vandebron, in the Netherlands, to explore a permissioned blockchain network using Hyperledger Fabric to integrate flexible capacity supplied by electric cars and household batteries into the electrical grid.
Coupling cognitive solutions with intelligent grids will enable consumers and energy distributors to work in partnership, predicting peak consumption and locating surplus energy without demand, thus avoiding blackouts and other problems posed by the traditional grid networks.
KiWi New Energy is determined to revolutionize the renewable energy industry through the widespread use of its smart inverters using blockchain technology to track energy production at solar power plants.
KiWi New Energy aims to change the way people invest in green energy by making solar investment easy for everyone. Unlike conventional solar energy companies, who look for large investors, we crowdsource solar projects. The income of investors will be distributed through our brand new cryptocurrency, the KIWI Token; this helps us cross borders, as well as help participants avoid lengthy bureaucracy. Our highly lucrative solar projects are ideal for investors who want to make the world a cleaner and better place.
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