Digital Magazine Magazine Year 2021

Peer-to-Peer energy (P2P): Candela Coin

Peer-to-peer

“Peer-to-Peer energy, and how Candela Coin will bring it to you”

By Aoutman Amenzouy, Chief Technology Officer, Candela Coin and Avi Shane Verdugo, Chief Executive Officer, Candela Coin.

Peer-to-Peer energy trading, blockchain technology, renewable energy, and Candela Coin. What do they all mean and why should we care about it? Well for starters, we mus overheald the current state of energy consumption and distribution. And we need an alternative solution to meet the needs of the population.

We need to understand yesterday’s, today’s, and tomorrow’s state of energy commerce, in order to accept the drastic change in the he current state of energy transference. In the past, utility companies held all the cards when it came to the acquisition & sale of energy. However, current technology has introduced a new era of prosumers and people-centric energy markets.

These prosumers have paved the way for Peer-toPeer (P2P) energy transference and the potential for ‘off the grid’ utility services. With the practice of sharing energy between consumers, it has made the cost of P2P energy trading much lower than conventional utility company power distribution. This fact alone has made the concept of consumer controlled energy a very touchy subject amongst utility market leaders. Through the advent of blockchain technology and decentralized markets, we have now found ourselves at a turning point in how we consume and sell energy.

Recommended for you: Candela Coin, the crypto currency that encourages solar energy adoption

As of now, the biggest and most prominent form of prosumer energy acquisition has been solar technology. Solar panels have been seen far and wide across rooftops in every nation; the privatized companies creating ‘solar farms’.This in order to harness the vast amount of renewable energy that the Sun provides.

Candela Coin: Peer-to-Peer energy

So, Candela Coin has positioned itself on the forefront of P2P energy trading by harnessing blockchain technology and decentralized commerce. For too long, utilities maintained market share and influence over how energy is procured and sold. Every day we create new technologies and opportunities that challenge this “status quo”.

Therefore, Candela Coin is a new medium for sharing energy with the masses and paving the way for an ‘off the grid’ form of energy commerce. Through the vast potential of crypto markets and a decentralized economy, Candela Coin is utilizing its proprietary blockchain protocol to reap the rewards of renewable-energy cultivation, and share it with the people.

Candela Coin Project

So, the idea of allowing people to sell their own energy without the governance of utility companies is necessary. And one that would give pause to industry leaders and conformative consumers alike. The Candela Coin project is growing fast and aimed to redefine the renewable energy playing field. We first demonstrate that an alternative is better, in order to consider any new idea as serious and notorious.

Currently, prosumers harness extra solar power through solar panels, only sell the power to utilities for pennies on the dollar, or store the power in expensive battery power banks that they would have to supply on their own.However, it’s wise to know that the practice of developing a P2P energy market isn’t entirely a novel practice.

Professor Verena Tiefenbeck, of the Swiss Federal Institute of Technology, has spoken at lecture describing the January 2019 venture in creating Switzerland’s first local P2P electric energy market, titled project Quartierstrom; which consisted of 37 households in total and grew the energy self-sufficiency of the community by double!

There is a great deal of information to take in on how this all works. But the benefits of accepting a new way to look at energy acquisition and commerce, outweighs the pains of change. Armed with its blockchain protocol and soon-to-be released solar panels of Candela Coin. It will herald a new way of how the people can own, share, and sell energy.

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