When are we going to get the technology to do this in London?

LO3 Energy & blockchain technology in London?

Having recently undertaken an Executive Course in blockchain technology, l came across the user case of LO3 Energy in New York and thought to myself how applicable it could be in parts of Central London. 

LO3 Energy are a private US based company, that built a technology platform to create a peer-to-peer markets which would enable residents in different parts of the world to buy and sell the energy produced locally. They launched their pilot project  Brooklyn Microgrid in 2016, a residential neighbourhood along President St, Brooklyn. There was a high concentration of solar adopters and residents interested in green technology which made it ideal location to run a test.  They also had to conduct tests that proved that smart meters could record electricity from solar panels and store the data on blockchain, where it would be accessible to neighbours with solar panels and consumers to trade power with each other. 

The platform used in New York was built to buy and sell locally produced energy was called “Exergy” and they partnered up with the industrial manufacturing company Siemens to build the grid that would enable locally generated power to be routed to different locations when needed. The proof of concept blockchain was Ethereum though they later investigated alternative networks for faster transaction speeds. They also worked closely with regulators in New York and met up with the US federal  Energy Regulatory Commission to ensure that they were complying to all applicable policies. 

Now given LO3 Energy, expanded their operations throughout other jurisdictions in the US, and countries like Australia and part of Europe, it would be useful to know whether they tried to expand in London at all? And what lessons can be learnt from their attempt. As its quite clear it would needed hardware manufactures on board along with software development, consent of regulators and local communities signed up for it. For example, what were or are the regulatory difficulties going to be given the regulators are usually far behind this new technology? I have to ask very firmly, are we there at all in London? 


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