Can Blockchain Technology Start the P2P Revolution?
The article Bitcoin Technology to Fuel P2P Solar Revolution talks about an Australia startup, Power Ledger, used blockchain technology to enable producers and consumers to trade their energy directly with their neighbors without energy/grid provider involved. The blockchain-based technology identifies the ownership of energy as it is generated and then manage multiple trading agreements between consumers who buy the excess energy directly from the original producer, the neighbourhoods need no centralized intermediary to process the transactions, so it can function without the addition of market costs and commercial margins, which keeps the rates low and benefit both producers and consumers.
Can Australia solar energy P2P revolution rise the fire to other industries? Recent years, the Sharing Economy raised in China, which creates an industry worth more than $500 billion. Do you think the blockchain technology can be applied to facilitate business model like this? Why?