Power Ledger, an Australian based energy trading company that takes advantage of blockchain technology, has signed a new deal to bring blockchain technology to homes in Western Australia.
This news comes via a press release from the group. Power Ledger has signed a three-year deal with Nicheliving to build 10 residential developments that take advantage of blockchain-based power-trading methods. Speaking on the matter is Dr. Jemma Green, the Co-founder and Chairman of Power Ledger:
“Nicheliving is the largest medium density developer in Western Australia to deliver blockchain technology to manage energy delivery and trading.”
Both groups will start with 62 apartments at “Sky Homes” in the Inglewood area there, providing 100% renewable energy to all, the release notes.
The platform Power Ledger has designed should track all energy consumed in these buildings, and allow those with excess energy to sell it, leaving none wanting for more.
“New homeowners are always looking for ways of reducing the upfront cost of providing power infrastructure and Power Ledger’s platform is available to help pay back a solar investment faster, while reducing the carbon impact of energy,” Green continued.
Interestingly, Power Ledger has already been doing this in South Australia and plans to move to the East Coast as well as time goes on.
Power Ledger recently teamed up with an Indian state to provide this very use case, as InsideBitcoins has previously reported on.