ConsenSys is using Ethereum and renewable energy to power Texas

25 Sep, 2018
by David Borman
News
ConsenSys is using Ethereum and renewable energy to power Texas

CCN is reporting that ConsenSys, a blockchain software company, is operating a startup called Grid+ which is trying to revolutionize the way energy is transmitted to consumers. Its first four customers just went live in Texas.

The way the system works is basically consumers use modified hardware to receive power from a grid that uses Smart contracts on the Ethereum network to allow for the purchase and sale of energy in near real time.

In a nutshell, both energy consumers and energy producers can have much more efficiency in how much energy they use and where it goes. The team at Grid+ have coupled this with renewable wind and solar energy as a prototype for how this type of system could revolutionize energy use in the coming years.

Realistically, Ethereum will have to scale before this could be rolled out in a mass adoption, but this is just a proof of concept and it seems to be successful.

This is very good news not only for practical blockchain use cases but also the proliferation of cleaner energy. Hopefully this catches on and in 20 years all our energy is regulated by distributed networks!

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Read more about: Ethereum (ETH)

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