Updated blockchain basis for German energy transition

Germany has undertaken to shut down all nuclear power plants in the country by 2022 and all coal-fired power plants by 2038. Therefore, more and more providers of renewable energies are emerging to cover the energy requirements afterwards. Distributed ledger technology is increasingly the basis of the architecture of many systems that innovative renewable energy providers are currently developing in the country.

 

Blockchain-based energy platform

After the foundation in late 2017, Lition was approved by the German regulatory authorities as a power provider in March 2018 and began offering electricity to customers the following month. The company has been doing large-scale marketing since summer 2019 and estimates that it will have customers in more than 1,000 cities by winter.Lition has partnerships with several large companies. These include the software giants Microsoft, SAP and PowerCloud as well as the local companies SüdwestStrom and N26. Among the investors are “European family businesses that invest through a convertible bond”.Lition offers a marketplace for environmentally friendly energy, through which households can choose an independent green electricity provider. The company also plans to offer solar panels from June. The platform consists of a second-layer proof-of-stake solution based on Ethereum (ETH). Lition offers a data wipe feature and transaction fees are $ 0.001 Coin (USDC).