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September 23, 2020
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A blockchain-based renewable energy project starts in Los Angeles |

Energy and transport startup EVShare launches a pilot program in the field of renewable energy sharing in Los Angeles.

The initiative raised $ 20 million in affiliate funds and $ 9 million from California Energy commission. It aims to investigate the use of blockchain technology and the management of a localized renewable energy network.

The whole is based on the combination of local solar energy systems with electric transport to create a renewable energy market. The next step will be to connect 50 households to the grid to power a shared pool of electric vans.

IN blockchain data on solar panels, energy storage, electric vehicles and charging infrastructure will be stored.

This data will be used to support the carbon credit trading market. Participants will be rewarded with tokens for activities reducing their carbon footprint. Examples of such activities may be vanpooling, production and use of renewable energy and other unspecified activities.
Tokens will be able to be spent on the use of electricity to support the circular economy and carbon credits.

The entire action will be carried out in Bassett, a borough in Los Angeles County. Residents of this area will be able to download the Green app Commuterto register. The project has been under preparation for a long time.

“The Energy Coalition, which is the leader of the project, has been encouraging the community to get involved in this project for over two years”

Eduardo Javier said Munoz, CEO EVShare.

“Blockchain is necessary to record, certify and approve transactions and carbon credits between assets in an automated manner. The use of a blockchain makes processes much more efficient “

Eduardo Javier added Munoz.

Blockchain in the energy sector

The project focuses heavily on the partnership between business and government. It also develops a decentralized financial sector, which is positioned as Bitcoin DeFi because of the connection RSK with the main network.

Blockchain is used in energy projects all over the world. In 2020, such events were held in Thailand, Germany, Austria and Japan.

They were launched by various companies in cooperation with local partners and authorities. This project, initiated by EVShare, however, is one of the first to be launched in the United States. It puts more emphasis on the use of renewed energy by electric vehicles.

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