Lition Blockchain Envisions Smart Cities and the Green Energy Revolution

The world is quickly becoming more urbanized, with 60% of the global population projected to reside in cities by 2050. Urban expansion puts extra pressures on cities and their infrastructures, while reliance on outdated electric grid systems is one of the greatest burdens faced by the cities today. Many jurisdictions are already planning for future green energy delivery solutions in the form of “smart grid” technology. In 2016, spending on digital city technology amounted to $80 billion and was forecasted to grow to $400 billion by 2020.

Environmental sustainability and energy efficiency is one of the critical aspects of smart city innovation. In Europe, for example, the European Technology Platform (ETP) Smart Grids initiative directs vision and strategy for European green energy delivery via smart electricity networks. They aim to create an electrical infrastructure that can sustain economic growth, integrate renewable energy sources and reduce urban environmental impact. A smart grid’s two-way communication capability between a utility and its customers will allow the former to adjust precisely for consumer demand.

As it is necessary to calibrate power loads and usage to meet constantly-changing power needs, even a local event can cause a catastrophic widespread power interruption. In 2003, for instance, a software bug caused a massive power outage in the northeastern region of the United States that left 10 million people in Canada without power for three days. Smart grids will allow to avoid such interruptions, and make power sources more reliable, and fault.

Entrepreneur and energy technology researcher Dr. Richard Lohwasser believes it’s the time to start deploying smart systems in large cities that lack robust electric grid infrastructure and to integrate smart technologies into existing infrastructures in cities with smart systems. He says that the fastest way to do this is to incorporate smart meters into the existing system.

Dr. Lohwasser is CEO of Germany-based Lition, a blockchain-driven platform that connects consumers directly with green energy producers. It is the first company in Germany that introduced a peer-to-peer renewable energy exchange platform. The platform has been rolled out in 11 German cities and is available to 41 million households.

Dr. Lohwasser says that inefficiency and other problems cripple the current electric delivery grid system.

Smart meters are connected to the internet via a consumer’s WiFi; they disaggregate energy flows to identify household appliances and their usage. All household appliances can communicate with Liton’s Smart Energy App, providing information on how much energy they consume, and when. With Lition’s Smart Energy App, families and business owners can now keep track of all their appliances, see which ones are currently running and get statistics about their energy usage and recommendations to save energy.

Additionally, the platform runs on blockchain, which ensures full transparency and allows users to see exactly where their energy is coming from and how it was produced. Meanwhile, energy providers can make use of the same data to make special time-based offers to customers who may choose to use certain appliances at “off-peak” times.

Related posts:

I remember that warm August evening in 1981. We stood in the Departure Hall of the brand-new modern Changi International Airport which became operational only in July. Just Dad and me. I was en route…

Are you looking for a way to add a touch of magic and coziness to your baby’s nursery? A crib canopy may be just the thing you need! Not only do they create a dreamy ambiance, but they also provide…