It has been announced recently that the Energo Lab Foundation, based in Shanghai, has switched it’s renewable-energy trading token, Energo (TSL), from Ethereum’s ERC20 framework onto the Qtum mainnet.
The shift has some exciting implications for the Qtum blockchain as a whole. As the Energo Lab Foundation has a cooperative understanding with the largest clean energy producer in the Philippines, First Gen, their blockchain microgrid project will now utilize the Qtum’s standalone mainnet completely. The project will be the first instance of an energy microgrid run solely on the Qtum blockchain and could set a revolutionary precedent for further application.
Qtum’s platform will be, by design, the core of the clean-energy dominant microgrid, handling registration, measurement, transaction and settlement of all electricity run through the local microgrids.
A similar microgrid project is currently operating under supervision of Energo Lab Foundation partner De La Salle University, who has implemented an in-house decentralized power network that enables peer-to-peer electricity transactions which successfully maintains supply and consumption of electricity between buildings. It is understood that this network will also be moved onto the Qtum mainnet.
Founder and CEO of the Energo Lab Foundation, Kakai Yang, spoke of the microgrid project in a release:
Through combining the decentralization of blockchain with solar cells, energy storage and other hardware, we hope to accelerate the power reform in off-grid areas and devote itself towards making clean electricity more accessible to residents in remote areas in the near future. We are delighted to partner with De La Salle University University on this case and wish to forge more partnerships with leading players in the cleantech industry,”
As the Energo Lab Foundation boasts the Clean Energy Access Network (India’s predominant decentralized energy organisation), the Alliance for Rural Electrification and Power for All as partners, any successful venture henceforth could lead to further integration of the Qtum mainnet.
Image From Shutterstock