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The upcoming California Energy Commission blockchain project will showcase how technology can improve future energy consumption patterns. The experimental pilot project will also present a glimpse into how carbon footprints can be reduced going into the future. It aims to promote renewable energy sources.
As per the official press release, the pilot project would be built with EVShare using BTC-based blockchain technology. A total of $9 million would be spent on the experimental California Energy Commission blockchain pilot. The official statement further mentions that the pilot would feature RSK public blockchain. It uses a BTC network-based smart contract protocol to create a carbon credit trading marketplace.
California Energy Commission blockchain to promote energy conservation
Members of the California Energy Commission blockchain project will receive virtual tokens for lowering their ecological footprint. They will also be rewarded for employing reusable energy. Furthermore, tokens will power rides and other associated services. All the information pertaining to the transactions will be managed using RSK blockchain.
The BTC-powered mechanism will be employed to manage transactions among the various participants of the California Energy Commission blockchain project. For example, the batteries and solar paraphernalia will all be coordinating through blockchain-powered mechanisms. The data involving vehicular information, solar panels, and various other assets will also be managed using the same RSK technology.
Pilot project will be scaled to cover bigger energy conservation goals
Phase two of the California Energy Commission blockchain pilot went live on 7th August. It will include public ledger recording of energy consumption. It is the vision of EVShare to create 50 homes with the solar grid.
Ultimately, the firm aims to power 1,000 cities globally using an ecologically-sensitive sharing economy in the next ten years. California Energy Commission blockchain experiment is a vision that brings ecological preservation with blockchain technology.
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Gurpreet Thind
Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.
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