The Energy Web Foundation (EWF)’s blockchain of blockchains platform will soon turn the consumers into energy traders. The foundation is coming up with a digital platform that facilitates the trading of global energy by next year. The enterprise is putting all its efforts towards developing a blockchain of blockchain so that people can sell their energy generated at home in worldwide markets.
While discussing the potential and viability of the platform, the chief commercial officer of EWF Jesse Morris said,” It’s all about tracking the origin of renewable energy and showing the ‘carbonality’ of that unit of energy — how black, brown or green it is depending on where it is and what time of day it was generated.”
It is possible to connect the EW Origin to the exchanges or load centers and allow interexchange transfers, Morris said. He further added that it is possible to sell the clean energy value generated on the rooftop in California to someone in Singapore.
EW Origin is one of the three hardware and software components that the company is using to convert consumers into energy traders. EWF is using Frameworks software and hardware for running its EW Chain blockchain, Greentech Mediareported. According to Morris, EWF will launch the genesis block of the chain similar to commercial launch in the second or third quarter of 2019.
Morris is hopeful that the company might be successful at facilitating regional or even international renewable certificate exchanges during the launch. He further added that the EWF wants to come up with a digital platform in the world that is ultra flexible, ultra-scalable, and ultra-low-cost.
The not-for-profit governance company which as of now is focused on making consumers earn through their energy production converting them into energy traders that have brought together several experienced names from the blockchain as well as the energy industry, CleanTechnicareported. Some such big names include Microsoft, Duke Energy, Brazilian hydro portfolio and more.
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