Singapore Major Utility Company Launches Blockchain-Based Solar Energy Marketplace

A large company in Singapore SP which is popularly known for its gas and electricity supply in the city is believed to have started a renewable energy certificate. What makes this new innovation so exciting is that it is believed to be powered by the Blockchain technology.

This was announced for the first time during the ASEAN business forum which was held in related to energy matters. The announcement asserted that this corporation has major plans to ensure that the corporation keeps on making progress in its bid to be transparent and efficient through the use of the Blockchain technology. According to the digital officer of SP groups in the person of Samuel Tan, this move is supposed to ensure that the marketplace would now be compatible with both domestic and foreign renewable energy certificates.

This move is to ensure that the marketplace would be compatible with both domestic and foreign renewable energy certificates.

In other words, the certificate would now be evidence or proof that within a certain period of time, a large amount of power has been generated through the use of solar batteries. The first persons or corporations to get involved in this business is believed to be CDL which are renowned for the exploits in the real estate sector. DBS bank who is also known for being huge players in the banking sector is also believed to be interested in the marketplace. They are joined by other sellers of energy such as the LYS Energy Solutions and the Cleantech Solar Asia.

It is important to note that the country Singapore is not in any way foreign to the concept of the Blockchain powering energy solutions. It was reported sometime this month that there have been ongoing plans to create a network which follows the peer to peer pattern of electricity. Through this platform, it is expected that most of the citizens who reside in the country would have the ability to use renewable energy.

It is important also to remember that such decentralized platforms are not foreign to such countries like the US. For example, New York has created successfully a microgrid project which is meant to support all homes who intend to engage in the buying and selling of electricity which has been created by the various solar panels available. Also, in September, Vicinity which is based in Australia has also announced its intention to actually run a trial based on Blockchain solutions. This trial is simply one branch of its mega-million program based on energy. This program focuses on providing a shopping mall with all the renewable energy it can take.

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