People have been talking about tokenizing energy on a public blockchain in order to p2p trade electricity production and consumption.
For example, if you are producing excess electricity on your solar panel, you could sell it on to your neighbor who is throwing a party and needs that excess electricity.
Instead of buying it from the grid, he could just purchase it from his/her neighbor.
Cool right? This could cut out business energy suppliers from the equation all together, and give the power to the people (literally!)
What do you guys think?
Better to buy energy from your local neighborhood than your local coal power stations right?
I thought so too, yet not sure if this is ever going to happen.
Why? Because there is such a thing as private blockchains that are preferred by institutions. i.e. They have ownership of the nodes and therefore decide how the blockchain will run and for what purpose.
This could solve for transparency, but they could ban things like p2p selling, and instead, allow consumers to solely buy from 'official' energy suppliers.
The same could apply to any utility...
Any opinions, much appreciated!