by Leoncio Montemayor
Since the last update (Nov 29, 2017), the price of Bitcoin has gone almost from 10,000 USD/BTC to over 16,000 USD/BTC. It seems like Bitcoin is past the point of no return. Coinbase, one of the most popular crypto exchanges, is adding up to 300,000 accounts per day and it’s the most downloaded app on Apple’s US App Store! Early adopters good bye, welcome early majority!
On the energy front, six Swiss utilities have joined forces with the Energy Web Foundation to explore applications in the energy field and launch them as pilot projects! I’ve said that 2017 has been an “exploration” year for the blockchain energy field and that 2018 will now be an “experimentation” year as more pilot projects are launched. Hopefully 2019 will be a “consolidation” year!
In other news, Electron sent an open letter to Ofgem (Office of Gas and Electricity Markets of the UK) warning about the potential dangers of a Central Switching Service (CSS) and its possible impacts on the energy landscape. It’s an important reminder that regulation is as important as ever to the long-term success of blockchain applications.
Over in Asia, the Korea Electric Power Corporation (KEPCO) and the Science Ministry will launch a blockchain-enabled service to allow for p2p energy trading in two apartments in Seoul and nine KEPCO buildings. This will help businesses and consumers lower their electricity bills.
Finally, another blockchain-based trading platform for green electricity was launched in Germany by the utility Wuppertaler Stadtwerke (WSW). This platform is called the Tal.Markt and will connect green energy producers with consumers. Producers are facing a reduction in feed-in-tariffs and are currently looking to innovate with new business models.
Join us at our event to learn more about all these new business models and how they will transform the industry!