California Energy Commission Backs Experimental Blockchain Pilot

California Energy Commission Backs Experimental Blockchain Pilot

By Daily Hodl Staff

EVShare’& rsquo; s instant objective is to link 50 houses to the solar grid with the vision of transforming 1,000 cities to have a sustainable shared economy in 10 years.

The job will likewise use the Bitcoin-powered blockchain to store transactions in between participating vehicles in addition to other possessions including batteries, battery chargers, and solar systems. Another usage case of the blockchain includes the storing of use data of automobiles, panels, batteries, and other possessions on-chain.

The 2nd stage of the pilot program was introduced on August 7th, which sets the stage to illustrate the worth of taping energy use in a public journal.

In a news release, the energy commission announced it is paying out $ 9 million to help energy and transport start-up EVShare support a blockchain infrastructure that’& rsquo; s powered by Bitcoin. The job depends on the RSK public blockchain, which is a layer two smart contract protocol that runs on top of the Bitcoin network, to produce a market that trades and digitizes carbon credits.

The California Energy Commission is backing an energy pilot that aims to utilize blockchain technology to minimize carbon footprints and encourage making use of renewable resource.

Individuals will get digital tokens for slashing their carbon footprint as well as developing and utilizing renewable resource. Participants can utilize the tokens to purchase electrical power and spend for services and flights. All transactions will be signed up on the RSK blockchain.

Post produced by Daily Hodl Staff

California Energy Commission Backs Experimental Blockchain Pilot