The Power Transition iMaaS platform can provide instantaneous micro payments while monitoring and managing individual units of energy throughout their lifecycles, with accountable pinpoint accuracy
Image: Power Transition to build energy microgrid. Photo: Courtesy of Photomat/Pixabay
Power Transition today announced that they have selected the Hedera Hashgraph public distributed ledger platform upon which to build their integrated Microgrid as a Service (iMaaS) platform.
Power Transition offers a revolutionary microgrid management platform designed to transform how energy is used, managed and traded by governments, organisations, businesses and individuals. The Power Transition iMaaS platform can provide instantaneous micropayments while monitoring and managing individual units of energy throughout their lifecycles, with accountable pinpoint accuracy. Power Transition has already demonstrated its capabilities to key stakeholders, including the UK Government, who can improve the efficiency of taxation through micropayments, and the UK energy sector, who have committed to fund its further development.
Hedera Hashgraph is a public distributed ledger that aims to directly resolve four fundamental challenges to mainstream market adoption of public ledger technology — performance, security, stability, and governance.
“Decentralized governance, security and stability will be critical to the success of the Power Transition iMaaS platform,” said Jiro Olcott, director at Power Transition. “In evaluating numerous public distributed ledger networks, it became increasingly clear to us that only Hedera Hashgraph would be able to meet our technical and governance needs, in order to deliver a stable and secure offering to our customers. In addition, Hedera’s Software Development Kit (SDK) provides excellent out-of-box tools for developers like us to build highly scalable applications that run on the Hedera public network and can be integrated with private networks.”
“Energy microgrids allow communities to be more energy independent and environmentally friendly, and are a perfect application for a fair, fast and secure ledger,” said Alex Godwin, Director of Business Development, EMEA at Hedera Hashgraph. “It is an example of how distributed ledger technology can literally put power back in the hands of small, local communities, and deliver more efficient and effective services to all parties involved. Power Transition is a leader in this emerging field, and we are pleased that they have chosen to build their offerings on top of the Hedera Hashgraph public ledger.”
Power Transition, alongside the Carbon Free Group, is also working on developing sustainable development applications, purpose-built on top of the Hedera network. The aim of these applications will be to enable individuals, communities and organizations to report their impacts on the environment, society and the economy against the UN Sustainable Development Goals (SDGs).