Ethereum project designed by
More than 700 households across Germany are now benefited by the decentralized platform by buying their energy, according to the company. Lition is now a licensed energy supplier in Germany with clients in 12 major cities (including Berlin, Hamburg
Lition is changing the old fashioned way of selling energy which includes many middle persons by introducing a new concept which is very familiar to blockchain enthusiasts: “bypassing unnecessary middlemen,” saving its users money on energy.
Dropping out the middlemen also cuts costs not just by a itsy-bitsy amount either. Lition states that , this will save customers an average of 20 percent on their utility bills, and will increase power plant revenue by up to 30 percent.
The app demo showed and explained the working of the system, users can choose from the categories of wind, solar or biomass, then benefited which provider they like the best. After shortlisting the energy that the user wants to buy, they make a payment in euros to
Lition’s blockchain technology effort will simplify the process of buying energy directly from green producers of any scale by employing transparent smart contracts.
The blockchain has many disadvantages and problems so, they teamed up with one of the world’s largest software companies, SAP, to build their own system, a “hybrid” blockchain for the
In order to trace their private-public blockchain, to be used for more than just energy use cases,