First Ever Blockchain Energy Trade Completed in the UK

Verv has added another first to its list of achievements in the energy trading business. The company’s smart hub has been used to facilitate the first blockchain energy trade transaction in the U.K. This comes barely five months after the company launched its energy trading community in a Hackney housing estate.
Details of the Trade
Using technology created by Verv, one kilowatt-hour of solar electricity was sent to another residential building on April 11, 2018. The electricity that was traded was generated from an array of solar panels on one of the roofs of an apartment block in the estate. The trade was carried out via Verv’s renewable energy trading platform. It is reported to be the first ever physical blockchain energy trade in the U.K. The trade can be viewed on the Etherscan platform.
Commenting on the successful trial, Roger, a resident of the Hackney housing estate said that:
Until now, we have been unable to take advantage of the solar panels on the roofs to power our homes due to the structure of the UK electricity market. With the installation of our Verv smart hubs, we are being empowered to generate, store and trade …

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