Enosi (JOUL Token) Launches Blockchain Clean Energy Trading Platform

In recent times, the popularity of green renewable sources of energy has increased significantly, primarily because humans are looking for ways to conserve natural resources and the environment at large. Due to this increased demand, the Enosi foundation introduced a live energy trading platform. The platform will be operated by an open source energy operating system based on distributed ledger technology.

Its objective is to avail resources and funds to small startups so that they can compete effectively with established energy firms. Once completed, the Enosi Energy trading Platform will facilitate metering and billing, procurement, risk management, and other activities concerning community energy projects.

Disrupting The Current Trend

The Enosi trading platform will leverage blockchain technology to ensure the equitable, efficient and transparent distribution of energy resources. As of now, a significant number of homes and business premises in both urban and rural areas lack access to clean and reliable energy resources. On the other hand, certain areas usually receive surplus resources, with the excess ending up as waste or being returned to the service provider.

Ideally, consumers who receive excess energy resources should have the ability to redirect the extra resources to the underserved. This, however, cannot be achieved because of the absence of a mechanism to facilitate the redistribution in a way that is acceptable to all parties.

For instance, the prices of electricity in Australia has increased substantially over the past decade, with multiple homeowners classifying electricity bills as their biggest recurrent expense. The reason behind this increase is the oligopolistic control by large energy companies that raise the entry barriers, preventing upcoming startups and communities from participating in the industry.

On the contrary, the Enosi trading platform empowers communities and nascent projects to challenge the status quo. By eliminating intermediaries and establishing direct peer-to-peer connections, this solution simplifies the access to renewable energy resources, as well as making them affordable. Essentially, Enosi will introduce a new method of generating, transporting, storing and selling electric energy.

An Exciting Blockchain Prospect

The Enosi trading platform came into the limelight at the New York Blockchain Week, where it was described as one the coolest blockchain startups. During the event, the project enthused several attendees for its ability to enable users to manage their energy consumption using smart contracts. According to the project’s CEO, Steve hoy, the Enosi trading platform will disrupt the production and distribution of green energy in Australia and beyond.

Ultimately, Enosi intends to eliminate intermediaries and empower community and startups to participate in the distribution of clean energy.

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