The world runs on energy, and while economists may snicker at energy in favour of money, they may not have to for much longer. SunContract is a project that want to decentralize the energy sector and tailor its outputs to improve the people’s welfare.
Using blockchain technology, the platform directly connects users with an open marketplace for energy, seamlessly allowing for the trustless peer-to-peer trade of electricity. Based in Slovenia, the project encourages individuals (primarily homeowners) to take part in the decentralized purchase and sale of energy.
In 2018, the project announced plans to expand into Italy, citing the country’s clear shift towards sustainable energy. They even signed an agreement with Tecnoapp to enter the Italian energy sector with blockchain technology.
SunContract’s plans for global expansion are still in the works, and in December 2019, the team announced a new operational office in Estonia.
In late 2020 they announced that the project and its consortium partners had received a $5.5 million grant from EU Horizon to research using blockchain to boost its energy demand response.
As SunContract continues to attract more people into trading energy, the world could actually start to run on money.
Kriptomat offers the lowest possible market SNC price in euros (SNC to EUR).
Check out how to buy SunContract on Kriptomat.