The blockchain application that will be used is part of a big project that seeks to turn the city of Graz into one of the cities with sustainable energy and free of carbon emissions
A company dedicated to the commercialization of energy supported by blockchain technology, announced that it will launch a P2P (peer-to-peer) network, which will serve to improve the distribution of solar energy in Graz, one of the largest cities in Austria. The name of that company is Power Ledger and it is one of the companies that are working in the solar energy sector.
To conduct this optimization project, the company of Australian origin, formed a powerful alliance with E-NEXT, which is a subsidiary company dedicated to investigate, create and implement technological advances and innovation in the energy industry. E-NEXT is part of one of the most important energy companies in Austria, Energie Steiermark. They share as a common objective to install a trading platform for energy that is supported with blockchain tools.
The project is part of the intention to optimize the distribution of energy as well as to arrive, one step closer, to the transformation of the system, using 100% of renewable energy, which is free of carbon emissions. For this reason, it is expected that with the help of the Power Ledger technology platform, the unnecessary use of energy (in the distribution of solar energy generated by the company) can be reduced. Similarly, it is expected that some houses could generate their own solar energy. This will also allow citizens to sell the excess energy of their homes.
The first test of Power Ledger will start operating in about 10 homes in the city of Graz. Then, it will achieve bigger number homes. According to local information, the Austrian energy network will support all the process.
The Blockchain Platform of Power Ledger
According to the statement issued by the company’s spokespeople, Power Ledger will enable blockchain support for the first tests of this project that will seek to optimize the distribution of solar energy, generated by the Austrian energy company and households in Graz.
This blockchain platform will allow the protection of identity information in the data of the energy distribution network by taking into account the privacy protection laws of the European Union (EU).
The initiation of these energy improvement projects and the restructuring of the use of sustainable energy system in the city of Graz, are part of a set of measures that the Austrian government conducts. This improvement project is part of the plan called “Austria Smart”, which seeks to solve most of the power generation distribution problems. It has as a final goal to turn the entire city of Graz into 100% sustainable with zero carbon energy by 2050.
It is also known that, at this time, Power Ledger blockchain platforms are being tested in Australia, Japan, Thailand and the United States. This is to adapt the blockchain applications that will be used for the project.
It is important to note that the city of Graz is one of the most technological cities in the European country and that, at the moment, it has a technological center dedicated to blockchain. Its name is BlockchainHub, so surprises could continue.
By María Rodríguez