Blockchain to be used in power trading in Australia


– one of the largest utility provider of Australia is devising to test a new way of power trading with the help of blockchain startup ledger.

As Australia’s leading energy retailer, they are working hard to meet the energy needs for today and for the future. They are out exploring, generating and buying fresh energy everyday. They are now bringing a new way of connecting with their customers who either want to buy or sell excess energy through blockchain, which creates a permanent record of allocated energy. Origin has became the latest utility firm to examine the tech’s potential in the sector.

Tony Lucas, an executive general manager of Origin has to say following words in his latest statement about this topic:

“While it’s still fairly early days for this technology, we are keen to explore the potential benefits that peer-to-peer energy trading could offer our customers. Power Ledger is one of a number of emerging technologies we’re currently exploring, which we believe could help us meet the changing needs of our customers.”

The company has made clear that they will look at the regulatory and technical implications of the system and monitor their customers how they use the technology. The trial will run from october to the end of the year and use anonymous customer information.