The project aims to create a decentralized energy network where Residents produce energy through Solar panels or other means, and can sell excess energy to Residents needing energy or to the National Grid. The transactions would be based on coins in each Resident’s account. As per a pre-determined contract and rate, the coins would be debited from the consumer and credited to the producer, for a certain billing period. Each transaction would need to be atomic and added to a Blockchain ledger for trust and verification. The network can include Banks to transact coins for Fiat currency. The network can have Utility Company who can buy or provide energy through the network.
December 14, 2017