Grid+ recently published their whitepaper, which discusses their plans to create several Ethereum-based “retail electricity providers” (a.k.a. utilities) around the world.
The whitepaper outlines the use of a “smart-energy agent” hardware device that allows customers to pay for their electricity in real-time using state-channels. These payments are made with “BOLT” tokens, a stable-coin issued by Grid+ and backed by USD deposits. The purchase and settlement of electricity in near real-time eliminates the risks of bad-debts which will allow Grid+ to offer rates ~38% lower than competitors.
The whitepaper goes on to discuss operating a large Raiden hub using these stable tokens as liquidity, which could be used for commerce outside of the Grid+ platform.
No surprise for ConsenSys
The creation of a dedicated ConsenSys company in the Energy space should come as no surprise given its long history of blockchain-based electricity projects, such as the Transactive microgrid in Brooklyn and Co-tricity. ConsenSys Enterprise Managing Partner Mark D’Agostino said:
“The formation of Grid+ is a natural extension of the energy projects we have been working on with Fortune 50 companies for the last two years. Grid+ will enable us to move faster and transition the Ethereum-based electricity trading and control platforms we have demonstrated to a much larger scale.”
Grid+ plans to have its token sale sometime this fall and will begin signing up customers for its first utility (which will be located in the United States) in Q1 2018.
Disclaimer: This is a sponsored post and does not necessarily reflect the opinions of any The Merkle employees. This is not investment or trading advice, always do your own independent research.