The Australian company Power Ledger acquires a blockchain-based system

The Australian company Power Ledger has acquired a renewable energy audit system that is based on Blockchain technology.

The Australian company Power Ledger acquires a blockchain-based system

Australia's strategy

Power Ledger, the Australian company dedicated to renewable energies, has informed through a press release the acquisition of a 250 kilowatt (KW) photovoltaic system that will use Blockchain technology for data management and settlement. In the statement Power Ledger explains: "The renewable energy generated by the Maddington asset will be tracked using blockchain technology to provide a verified audit trail for the energy generated, the energy purchased from the network, the energy consumed and the energy dispatched to the net."

The system was purchased from the Autralian firm Perdaman Advanced Energy dedicated to clean energy consulting and development of projects related to renewable energy. The new system acquired by Power Ledger will be located in Maddington and is part of the development of Australia's new energy market policy, consumers will be rewarded for the purchase and sale of energy.

The Blockchain for intelligent management

Researchers at the Institute of Economic and Social Research in Ireland say that Blockchain technology has great potential in the intelligent management of renewable energy consumption. The researchers explain that: "Complaints about future electricity production can be marketed directly between generators and consumers through the blockchain in a cyber-physical market [...] energy contracts for future delivery are negotiated in the blockchain. These claims about the future generation could be incorporated as non-fungible blockchain tokens with the future delivery of electricity as an underlying asset."