Energy News in Brief

Softbank involved in consumer renewable energy initiative

News in Brief

Softbank, Tokyo Electric, and several other companies are collaborating to launch a blockchain based consumer trading platform for renewable energy. The aim is to reduce CO2 emissions.

Until now trading greenhouse gas emissions has focused on the corporate sector. The consumer sector can now be reached by linking the amount of renewable energy usage to individuals and using blockchain for data collection. Because there’s now the ability to cheaply measure the CO2 reduction value of renewable energy generated at each household, CtoC trading is possible.

The alliance considers the project an experiment. They plan to evaluate the technology used and the business model.