Lo3 energy stock
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LO3 is working on a commercialized blockchain-based platform that would allow peer-to-peer energy trading marketplaces to take stock, having previously worked on the world’s first blockchain-based microgrid project in Brooklyn, New York.
Consumers can produce, store, purchase, and sell power using LO3’s platform, which stores and validates data. Via the use of blockchain technology, the peer-to-peer trading transaction mechanism is both trackable and tamper-proof.
“Our Brooklyn microgrid has shown that our blockchain-based hardware and software technology is ready to be taken to the next stage, enabling customers to become ‘prosumers,’ with the ability to control how they produce, consume, store, and sell energy to the grid,” Orsini continued.
The size of the investment has not been disclosed by either LO3 or Centrica, but it falls neatly within the remit of Centrica Innovations, which was launched in February of this year. The energy behemoth announced that it would set aside £100 million to “identify, incubate, and accelerate” new technologies that it would then integrate into its own offering.
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By 2028, blockchain applications in power microgrids that use local renewable energy sources including solar and wind are estimated to have a global market size of more than $1.2 billion. According to a recent analysis by Navigant Research, the compound annual growth rate is expected to be 67.8%.
In 2028, Europe is projected to be the largest region, accounting for roughly half of total sales of $1.5 billion. North America will account for about a third of overall sales, with $905 million, and Asia Pacific will account for about a sixth, with $470 million.
Microgrids are thought to be an important part of the future renewable energy infrastructure. They will allow energy self-sufficiency or provide local power in the event of grid failure if they are connected to the main grid. They have a cost-effective solution for rural electrification in remote areas.
Many blockchain use cases to date have based on exchanging renewable energy amongst microgrid consumers. LO3 Energy unveiled the first blockchain project – and one of the first internationally – in the Brooklyn microgrid in New York, among other high-profile initiatives. Following that, ventures were launched in the United States, Europe, Australia, and Japan, with industrial conglomerate Marubeni and Kyocera Corporation.
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I’m a freelance journalist based in New York who is involved in energy markets. I address subjects such as energy policy, trading markets, and energy management in my writing. More of my writing can be found at Rakesh Sharma.
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A growing amount of money is pouring into the crypto and blockchain startup markets. Investors can find new profit opportunities by following the money. You won’t want to miss the following recent news.
Grayscale benefited from increased inflows of $85 million in the second quarter, up from $42.7 million in the first quarter and $30.1 million in the fourth quarter of 2018.
This is noteworthy since the Grayscale Bitcoin Trust (OTC:GBTC) was closed to new investment in May and June. Despite the dramatic rise in the price of Bitcoin in recent months, Grayscale Bitcoin Trust delivered an impressive 178.8% in the second quarter.
Institutional investors (such as hedge funds and family offices) accounted for 84 percent of overall inflows, the highest percentage of total demand for Grayscale’s goods since it started reporting this metric in July 2018. Many crypto bulls’ investment theses include growing institutional demand for cryptoassets like Bitcoin, and Grayscale’s report shows that more of this kind of capital is beginning to flow into this emerging asset class. If this trend persists, the price of Bitcoin and other cryptocurrencies may rise.