Cofounder of blockchain-based solar power company explains what the technology means to the future of energy

Australia-based Power Ledger is using blockchain to create a peer-to-peer solar energy trading network.

At Power Ledger we believe that the way to solve this is not to keep doing more of what is already being done. So we and many others now believe that what's going to solve this problem is changing the electrical system from a centralized one to a distributed one. The platform can track, validate and provide an audit trail of every solar energy transaction in near-real time, allowing for greater transparency and increased automation. And ultimately a fully functioning market, rather than a glorified command economy type market.

We had a sale in which anyone who wanted POWR could buy in. This resulted in a 'grassroots movement' of small buyers who want to change their energy future and participate in our ecosystem, rather than just large crypto-traders.Energy retailers increasingly are being asked to provide the kind of clean affordable power that without P2P they wouldn't have access to.

Power Ledger has run scores of successful deployments with partners around the world, with renewable energy projects in nine countries used by more than 20 clients. These are crucial for building momentum for the mass scalability that Power Ledger's P2P technology is designed to support.

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