- Feb 25, 2018 2:00 am GMT
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In my other, more lucrative gig, I write about bitcoin and shiny new cryptocurrencies. This article provides an interesting look at three tokens for companies that have promised to use blockchain to disrupt energy markets. Power Ledger aims to provide a distributed energy resources (DERs) to people residing in dense areas of a city through blockchain. Romania-based ReStart Energy claims to be among the fastest growing energy providers in the EU. Its RED platform uses blockchain to connect prosumers with each other for business transactions. It already has 30,000 customers and generated revenues of $20 million last year. WePower uses blockchain to enable smart contracts for consumers to buy electricity directly from providers in increments of 1kWh.
The markets for cryptocurrencies is still in a nascent stage, making it too early to evaluate the potention of these companies from the financial perspective. That said, blockchain is a natural complement to the growth of decentralized energy resources. It is likely that these startups will gain traction in the coming years and will end up as acquisitions for major power producers.