Yesterday, US-based blockchain startup Spring Labs announced it won a contract to develop a national property lien registry for energy-efficiency financing. The company’s mission is to create decentralized credit referencing and identity data. It is not dissimilar to Equifax, but without the same sort of risk of data getting hacked.
The contract was awarded by a consortium of Ygrene Energy Fund California, Renovate America, Energy Efficient Equity and PACE Funding Group. The group will use the platform to query
Property Assessed Clean Energy (PACE) assessment information.
PACE is a mechanism to finance energy efficiency and renewable energy improvements. It is used for commercial and residential properties who wish to reduce their energy costs. PACE programs allow a property owner to finance the up-front cost of energy and other real estate improvements.
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