Ethereum Used for ‘First’ Paid Energy Trade Using Blockchain Tech – CoinDesk

The Ethereum blockchain is being used by Transactive Grid to log energy created by solar panels so that it can be sold to neighbors connected to the grid.

Two Brooklyn residents used the Ethereum blockchain today to facilitate a transaction that let one sell energy directly to the other.

The neighbors accomplished the exchange thanks to LO3, a green energy startup working to do to the energy industry what blockchain is already doing to banks.

LO3 co-founder Lawrence Orsini said that the exchange is designed to demonstrate how everyday people can use blockchain to facilitate peer-to-peer exchange.

Orsini told CoinDesk:

“All the projects that we’re working on are squarely focused on the emerging distributed economy, peer to peer concepts. They’re all squarely focused on distributing and decentralizing assets into communities, into people’s hands, the new economy of the future.”

A new kind of partnership

The joint effort called TransActive Grid, struck between between LO3 and decentralized applications startup ConsenSys, allowed Brooklyn resident Eric Frumin to sell excess renewable energy generated from his own solar panels directly to Bob Sauchelli, a former program…

Quelle: Ethereum Used for ‘First’ Paid Energy Trade Using Blockchain Tech – CoinDesk