The Background Details
A northern eastern Spanish region, Catalan, is on the move and possibly on the edge of a new ground breaking project. The Government has already been at the forefront of centralized power but it has now taken things that little bit further. However this time the government will be using decentralized blockchain technology. The thought process is to provide those living in the Catalan region with an energy trading token through airdrop. This is in the hope that residents will be encouraged to use solar powered energy in addition to the main power grid.
The sticking point may well be the restrictions that are in place with peer-to-peer energy trading. These rules mean that those individuals producing solar power are unable to sell their energy either to other individuals or even the national grid. This is what has made the production of solar power less of an incentive to individuals. There is no scope beyond their own energy requirements. To many this is a really short sighted approach and is not helping the environment in the slightest.
The ION Token
However, the Catalan Institute of Energy is hot on the tail of a new project which has somehow managed to escape the limitations highlighted above. The new Crypto token “ION” will work with community-managed power grids. These grids connect into the main grid and by working through the community-based grids alleviates regulations already outlined. The new IONs are not in any way, shape or form to replace the main power grid already supplied but simply to supplement it and to encourage greener energy.
A spokesperson at the Catalan Institute of Energy has stated that the public ION token and its wallet will be transparent. Funds will not be raised by the usual ICO but instead ION will be given away in quantities between 100 and 5,000. The amount of ION’s airdropped will very much depend on the needs of the customer.
What’s The Latest?
Development is very much at the early stages – a pilot scheme is expected to be launched in Catalonia in August. This will allow time for the finishing touches to be made and the ION wallet to be completed. Things are very much in full swing though and progress is going well.
8.418 million ION will be available for use. This figure is this specific because it matches the exact number of kilowatt-hours (kWh) of power per year that is produced by Catalonia. An average measurement of power will be used to calculate how many IONs are to be sent to each individual. If there is a shortfall or overuse of power, the difference will be made up in Crypto tokens.
The aim at the end of the day with this innovative and green project is to match the power produced with IONs to kilowatt-hours one to one. This will be a major achievement but something that the Catalan Institute of Energy has really set its sights on. It will be very exciting to see how the pilot scheme works and how well the project starts out. It could certainly be the shape of things to come if it is successful.