Hive Power

bitzevs (26)in #ico • 6 years ago

Build Decentralized Energy Communities Secured by the Blockchain

About Hive Power

Demo Hive, the first testbed developed by our team and presented during the Energy Startup Day 2017 in Zurich, Switzerland on November 30th 2017

Winning the Pitch Competition held during the Blockchain2Business by Solarplaza conference

Vision

Our vision is to provide everyone with the possibility to create and manage electrical energy communities on the Etherum blockchain, creating a world of shared energy for a brighter future.

The power sector is facing a paradigm change, moving from a centralized approach with big power plants (hydro, coal, gas and nuclear) leading the energy market to a decentralized scenario adopting distributed energy resources (DER), such as solar and wind.

We believe that the future electrical grid should be characterized by an increase of energy sharing between prosumers, consumers and electric utilities, optimizing the energy resource and the usage of the infrastructure. In several countries, the current unbundled situation allows the end-users to freely choose their energy supplier. In this context, enabling technologies like blockchain, and more specifically Ethereum, will allow decentralized prosumers to safely buy and sell electricity to each other at negligible marginal costs.

What is Hive Power?

Hive Power develops a turnkey solution for the creation and management of local energy communities on the blockchain, providing an economic optimization for their participants by lowering their bills and valorizing their assets. In collaboration with meter producers, Hive Power is building a blockchain ready energy meter, which allows to safely tokenize energy.

How it works

Hive Power runs on the Ethereum blockchain, making use of multi-party off-chain channels for fast and cost-effective transactions. Energy transactions are paid with third-party stable tokens.