Bitcoin, Crypto currency, Blockchain

Decentralised energy for Germany – in spite of Ethereum-a Blockchain

If the words crypto-currencies and energy fall in a sentence, it is often the questionable energy balance of Proof-of-Work-method is at the core of Bitcoin and Ethereum. It has long been known that the energy sector will be among the areas that the business models benefit the most from the “block chain”. A Berlin-based Start-up called Lition, operating in a decentralised stock market for renewable energy Ethereum-based. However, the current Blockchain-solution prepares the company’s chief headache.

The decentralisation of energy supply will appear at the latest since the increased Expansion of renewable energies as a valid Alternative to the big energy providers RWE, EnBW, Vattenfall, and co., The Blockchain technology is here to give the consumer more decision-making power about the origin of the electricity, as well as its conditions of production.

The wedding of the Blockchain and the energy sector: Lition has taken a Berlin-based Start-up companies, this approach to the heart. In particular, the provision of renewable energy. Lition works as a power exchange, consumers and producers, direct trade can operate. The Elimination of a middle man is supposed to reduce electricity prices for the customers. However, the producers benefit: Lition this promises to be a increase in revenue by up to 30 percent.

“Ethereum is not a good System”

To mediate between customers and producers, the Ethereum block Chain. And in order to protect the privacy of the consumer, published Lition only the addresses of the power generator.

Whether the company Ethereum remains true, however, it is more than questionable.

“Ethereum is not a good System” – Litions CEO Richard Lohwasser makes no secret of the fact, to deal with children diseases of (Ethereum-)Blockchain. Compared to CoinDesk wrestled Lohwasser with the speed problems of Ethereum-a Blockchain:

“It is very slow. It takes 20 to 30 seconds, to tell a consumer whether he can buy energy, or not“

The Alternative of a private Blockchain, as you will have already been tested by numerous companies, not for Lohwasser in question:”As you can be without equal on the Blockchain.” Lition seeks, therefore, a hybrid solution of private and public Blockchain. The Start-up with the German Software giant SAP is collaborating. In order to Finance the technological conversion, the company plans an Initial Coin Offering. A date for the ICO has not been announced yet.

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