American stock exchange Nasdaq explores a blockchain service that lets solar power generators to sell certificates using its Linq service.
Recently, a Nevada-based blockchain startup Filament has raised $5 million in venture capital to build technology which permits electronic devices to be connected online. These Nasdaq solar panels are also connected with the technology provided by Filament.
Through an API pull from Linq, anonymous certificates can be created and sold to anyone who wishes to subsidize solar energy. Linq is a Nasdaq blockchain product which was debuted in October 2015 at the Money20/20 conference in Las Vegas.
Alexander Zinder, senior director of global software development for Nasdaq, told how the technology powering the use case works when the cryptographically verified certificate, appeared live on the screen in New York City during the live video feed. He said in his statement that, “The solar panel is actually hard-wired into the IoT device through a converter which enables us to measure the wattage they’re putting out and producing into the grid.”
Nasdaq and design firm IDEO's CoLab collaborated this project to ease partnerships that will take a design-based approach in creating technology. “We think it’s a very compelling use case," said Zinder. He added that, “There’s a lot of opportunity, but it’s extremely early in our exploration."
Recently, Brooklyn-based startup LO3 a startup using the Ethereum blockchain demonstrated technology to give people the ability to sell solar energy directly to one another. Also Grid Singularity which is a similar model using blockchain application is being followed in Vienna.
