Blockchain, a peer-to-peer network for renewable energy
Rina Chandran reports on Reuters that Thailand residents of a district of Bangkok are experimenting with one of the largest peer-to-peer renewable energy exchange platforms in the world thanks to the application of the blockchain. This system reduces energy forniture costs using solar panels.
The World Energy Council predicts that such decentralized energy will grow to about a fourth of the market in 2025 from 5 percent today.
Thailand is Southeast Asia’s leading developer of renewable energy, and aims to have it account for 30 percent of final energy consumption by 2036.