Real-world use cases for blockchain technology can be found all over the world. In India, the state of Uttar Pradesh will allow for blockchain-based solar energy trading.
India can become a crucial region regarding the development of blockchain technology.
Peer-to-peer Trading of Solar Energy
One of the country’s newest ventures focuses on the trade of solar energy.
Two state-owned solar energy companies in the state of Uttar Pradesh will begin utilizing blockchain technology to that extent.
It is the first pilot project involving solar energy generated by state government buildings.
The first phase of this pilot project will begin in March or April of 2020.
Once the results of this solar energy trading become apparent, the involved parties will determine if it is a viable option to explore further.
Introducing the peer-to-peer trading of this energy through blockchain technology provides many benefits.
In an ideal scenario, it will cut out the middleman altogether and lower costs.
Moreover, it can provide solar energy to those…