A UK consortium led by blockchain developer Electron is looking to establish a "shared marketplace for energy assets to respond to pricing signals", according to CEO Joanna Hubbard. The proposed "energy eBay" will aim to support the launches of new flexibility markets, which are predicted to rise with overall increases in distributed generation sources and electricity consumption points. Blockchain's potential as an alternative payment system has been recognised by some major financial institutions, including Barclays, JPMorgan Chase & Co (JPM), Citigroup (C, Fortune 500) and Goldman Sachs (G@@
A UK consortium led by blockchain developer Electron is looking to establish a "shared marketplace for energy assets to respond to pricing signals", according to CEO Joanna Hubbard. The proposed "energy eBay" will aim to support the launches of new flexibility markets, which are predicted to rise with overall increases in distributed generation sources and electricity consumption points. Electron won a £630,000 grant in 2017 however Hubbard has not yet put forward a launch date for the platform.