Verv brings P2P Energy Trading To The Blockchain
You will see that at Verv they believe that it is time to dare to be different, and this means bringing energy into the digital economy. By putting together their deep learning AI with their disruptive blockchain technology, they have been able to create a P2P energy trading platform. The main goal of this platform is to put the power back into the hands of the user, well at the same time improving upon the access to energy that is both cost-efficient and green.
Improving Upon The Trading Process
Verv comes with a smart hub that is based on an AI, that is able to collect a detailed, and real-time summary of the electricity that is being used in a house, and the smart hub will be acting as the basis of their P2P framework. The AI that they do use is going to provide another unique layer of intelligence within the trading process, making everyone happier with the outcome. Making use of the ability to see the future when it comes to the supply and demand of energy in houses, the Verv is able to make sure that trading is being done at the best times, and this will help in reducing the cost and will also help with prioritising green energy use.
With there being two P2P projects that are backed by the government right now, and with the first P2P trade using energy on the blockchain having just happened within the UK, everyone is excited about the next step when it comes to digitising energy. Of course, this is where creating the VLUX token comes in.
The VLUX Token
VLUX is a type of utility token that has been made by Verv so as to make it possible for token holders to have access to their blockchain-based energy trading network, as well as them benefiting from the cost-efficient energy that is low carbon. Tokens are going to be traded among those in the network for KWh energy that is going to be sent to the user in order to get what they are in need of.
Verv is going to be making use of blockchain technology in order to provide their users with a platform that is secure and they are also going to be keeping constantly updated digital records kept on who it is that is owning what. With this platform being posted across many different nodes, making use of a trading system that has been created upon the blockchain is going to make it so that its recorded value is able to be kept up with, even if there were ever a natural disaster.
By having come up with the VLUX token, Verv is able to make sure that their scalable network is a spot where users able to safely get things done.