Published
5 years ago on
August 31, 2018
“The pilot project in the centre of Thailand's capital is among the world's largest peer-to-peer renewable energy trading platforms using blockchain, according to the firms involved. The system has a total generating capacity of 635 KW that can be traded via Bangkok city's electricity grid between a mall, a school, a dental hospital and an apartment complex.â€This is made possible via Australian blockchain firm Power Ledger. David Martin, the Managing Director of the company has said:
"By enabling trade in renewable energy, the community meets its own energy demands, leading to lower bills for buyers, better prices for sellers, and a smaller carbon footprint for all. It will encourage more consumers to make the switch to renewable energy, as the cost can be offset by selling excess energy to neighbours."This is a part of a bigger roll out that is hopefully set to run through the whole of Bangkok over the coming years. According to Thomson Reuters Foundation, the Bangkok Metropolitan Authority expects:
"Peer-to-peer energy trading to become mainstream for power generation in the long run.â€Moreover, a spokesperson has said:
"There are opportunities everywhere - not just in cities, but also in islands and remote areas where electricity supply is a challenge.â€This is yet another use for blockchain technology, one that is already having an impact on the lives of normal people, giving them access to a fairer, more liberating and more democrating energy supply system, one that doesn’t just benefit suppliers, it can benefit customers too. References Thomson Reuters Foundation Report
