Singapore Begins Trading of Renewable Energy Certificates over the Blockchain
Renewable energy initiatives pop up all over the world. Countries try to harness the power of solar and wind energy on a growing scale. The trading of such energy reserves can benefit from a completely new infrastructure. Blockchain technology will have its role to play, at least according to Singapore’s SP Group.
A Different Spin on Renewable Energy Trading
SP Group is one of Singapore’s leading utilities providers. The company is looking for ways to make the trading of energy more efficient and decentralized. Exploring new technologies plays a vital role in this regard. For the company, its new blockchain-based system is the next logical step in the evolution. This platform facilitates the trading of renewable energy certificates in the country.
Every certificate represents a unit of green energy. By opening a new trading platform, companies can offset their non-green energy production through this asset. Using the blockchain for such a system makes a lot of sense. It improves…
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