The world’s first decentralised energy exchange

////The world’s first decentralised energy exchange

The world’s first decentralised energy exchange

Most people in the world now recognise that climate change is advancing to the stage at which it could become really dangerous on a number of levels. However, while there is much discussion of the issues, real action to solve the problem trails behind. In response to this situation, a team of young engineers have got together to empower communities, encouraging people to produce, consume and sell green energy locally and efficiently through the world’s first decentralised energy exchange, powered by renewable energy.

Through Pylon, people can exchange green energy, bought directly from renewable energy company RES. A payment method called PylonCoin can then be used to reward the production of sustainable energy as well as financially supporting projects on sustainable technologies. In short, the mission is to provide the energy markets with the financial incentives that current energy policies and governance systems, are failing, or delaying to provide, paving the way towards a sustainable future.

REM talked to Gerard Bel from Pylon to find out more about how it all works.

What is the current problem that Pylon has been established to solve?

The problem of cooperation among various (and numerous) stakeholders that interact throughout the energy value chain.

The need for cooperation becomes more pressing than ever due to the increased number of distributed energy resources (DER) and other assets being connected to the grid, leading to an exponential increase of the number of actors that need to coordinate for maintaining the operation of the grid (avoid black-outs) and for avoiding the cost of electricity to skyrocket.

For ensuring this cooperation Pylon Network creates an open, neutral, shared energy database for encouraging the exchange of digital services among all stakeholders.

We achieve the neutrality of the database by leveraging our open source blockchain technology, which is designed in accordance to the high requirements of the energy sector (meaning that it also deals with the challenges of scalability and energy consumption, commonly faced by blockchain protocols). In this way, Pylon Network uniquely combines full transparency with full privacy for open energy data.

Read more at Renewable Energy Magazine

2018-11-08T07:22:15+00:00Tags: |