Voltreum is pleased to announce its highly anticipated decentralized P2P energy trading platform ‘Volt-X’.
Volt-X is a peer-to-peer energy trading platform that aims to decentralize and democratize energy by creating a multi-directional and borderless ecosystem to trade renewable energy.
Bhakti Vaidya, Voltreum Co-founder, said:
“It is a key milestone on our path to better access to clean, renewable, and sustainable energy.”
The world today faces an unprecedented power crisis fueled by two major factors. First, 82% of the world’s energy is produced from fossil fuels. Not only does fossil fuel consumption cause global warming, but it is also in limited supply. Deficiencies in fossil fuel stocks at power stations eventually lead to soaring power prices and blackouts. Second, an ever-increasing population directly corresponds to higher energy demands. As the demand for energy scales, so does our dependence on fossil fuels.
The only way to break this vicious cycle is by ramping up renewable energy production and adopting a decentralized model of energy distribution.
Rahul Awati, Voltreum Co-founder, said:
“Our energy landscape needs to evolve as soon as possible to serve the growing population’s needs while keeping global temperatures under control. Voltreum, a future-focused technology company, aims to do exactly this. Right on the helm of the green energy transition is Volt-X, Voltreum’s first product.”
Volt-X, in conjunction with Voltreum’s cryptocurrency, will enable energy producers and energy deficient entities to trade renewable energy over blockchain in transparent, borderless, and real-time transactions. With Volt-X, we can improve renewable energy penetration and availability by solving three critical challenges – improving the predictability of renewable energy, increasing the quantum of generation, and enhancing the efficiency of renewable energy production.
P2P trading increases the amount of energy available on the grid and keeps demand surges in check. It also creates an interconnected mesh of Independent Power Producers (IPP), Distributed Energy Resources (DERs), Battery Energy Storage (BES) and Demand Response Service Providers, private and public entities, and domestic consumers over a borderless trading ecosystem. It allows energy to be transacted between surplus and deficient entities, regardless of geographical boundaries.
Volt-X provides grid stability, institutional flexibility, and asset monetization opportunities on one side of the energy spectrum. While on the other end, it encourages the adoption of green energy, promotes the ideals of energy conservation, and improves energy access. Through peer-to-peer trading on Volt-X, powered by blockchain and DLT, entities can trade renewable energy transparently and democratically regardless of their scale, identity, location, or time.
Volt-X is driven by Voltreum’s vision to make renewable energy more accessible while reducing dependence on global warming – causing fossil fuels. And throughout this process, it will ensure fair pricing and energy equitability for everyone.
About Voltreum
Voltreum is a future-focused technology company that develops innovative products to democratize renewable energy (RE) trading on power grids, increase renewable energy penetration, and help create a more sustainable future for Planet Earth. https://voltreum.com/
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Source: Voltreum