Most electric grids were built decades ago.
Companies barely share or analyze data for
reducing costs, and customers pay a premium
for unexpected energy peaks, in addition to
the high costs charged by utilities companies,
which intermediate all the processes.
Grid Singularity is initiating the transition to a
distributed energy utilities system, where energy
can be sourced and distributed in a more
efficient, decentralized way. The company is
creating a blockchain layer where all transactions
will be securely stored.
This platform will be invisible for end users, but
will allow other companies (including utilities)
to develop applications on top of this layer to
support, for example, micropayment channels,
data analysis and benchmarking, smart grid
management, and energy trade validation.
It’s an important step in transforming energy
consumers into energy prosumers — meaning
that each household will be able to buy and
sell energy though this network.