Thailand has decided to partner with a blockchain company to encourage peer-to-peer trade in renewable energy.
The target is 25% renewable energy by 2037
Thai Digital Energy Development (TDED) - a public-private joint venture - has signed an agreement with Power Ledger, a blockchain energy start-up, to develop a blockchain-based digital energy business, says an official announcement of May 25 .
The deal, which includes a collaboration with energy suppliers in Thailand, aims to develop solutions for peer-to-peer energy trading and environmental commodity trading, Australia-based Power Ledger said in a press release. .
The partners' main intention is to help Thailand achieve the 25% renewable energy target by 2037 while the nation applies a parallel plan to reduce the use of fossil fuels.
"Blockchain-enabled transactional energy solutions including peer-to-peer (P2P) energy trading, virtual power plants as well as renewable energy certificates and carbon credit trading will be key to establishing economically viable renewable energy markets" said Jemma Green, co-founder and executive chairman of Power Ledger.
"Our partnership with TDED will allow us to accelerate our efforts to promote distributed digital energy markets in Thailand," added Green. The plan that was developed to improve energy efficiency in Thailand is well structured and supported by specialized bodies, focused on encouraging the use and trade of renewable energy, while, at the same time, the use of fossil fuels is reduced.
A collaboration of public and private bodies to "make clean energy more accessible to people"
The partners will oversee the management of four "clean energy" projects by the renewable energy supplier BCPG Group, which have been included in a sandbox project to encourage the uptake of renewable energy by the Energy Regulatory Commission of the Thailand.
BCPG is a Bangkok-based company that deals with solar, wind and geothermal energy, with operations in Thailand, Japan, the Philippines and Indonesia. Together with a Thai electric producer under the provincial electricity authority, he manages the TDED enterprise.
One of the first projects to emerge from the collaboration with Power Ledger will focus on managing energy and carbon emissions on the 12 megawatt smart campus of the University of Chiang Mai, in northern Thailand.
"Power Ledger's cutting-edge technology experience will help realize TDED's goal of developing digital energy products and services, as well as making clean energy more accessible to people," said the TDED president and of the BCPG Bundit Sapianchai. Power Ledger has been partnering with BCPG in Thailand since 2018, when it initiated a peer-to-peer energy exchange process in Bangkok.
And how do you trade your bitcoins? Have you tried automatic trading platforms like Bitcoin Pro? Let us know in the comments what you think and the successes you have achieved.
