Solar trading on the blockchain possible with The9...?
The9 is an internet company based in China that develops and operates blockchain related businesses.
One of its subsidiaries The9 Singapore Pte. Ltd just signed a partnership agreement with C&I Singapore Renewable and Innovative Tech Pte. Ltd. to the trading and distribution of solar energy using blockchain technology.
The information comes directly from The9 Limited and Mr. Jun Zhu, Chairman of the The9, commented: "We are pleased to establish a strategic partnership with C&I to develop an innovative platform and a more efficient ecology using blockchain technology in energy production and distribution. We believe this cooperation will not only achieve the execution of energy platform and technology but more importantly, bring more environmentally-friendly access to electricity and energy for global users and contribute to the green, sustainable Earth."
It's a long way to go for trading energy companies to use blockchain as their tier 1 option to sell the best KWh.
The fact that Singapore is pushing the trading of solar energy using technologies that can cut the intermediaries to almost zero it's just the beginning of a long and bloody price war for the ideal KWh for the global markets.
How long will it take for this project to materialize? – what do you think?