Blockchain Startup Extends Energy Market

Blockchain startup LO3 Energy has partnered with the European Power Exchange to connect local electric microgrids to broader wholesale markets
13 December 2017   1983

Yesterday blockchain startup LO3 Energy and the European Power Exchange EPEX SPOT signed a memorandum of understanding committing themselves to finding ways to connect local energy markets to larger power networks using a blockchain-based platform.

EPEX SPOT is a power trading company based in France which covering Central Western Europe and the United Kingdom. Company allows users in each country to buy or sell excess power to each other.

Under the partnership, LO3 will deploy its technology on community microgrids, such as the one it developed in its flagship project, the Brooklyn Microgrid that was the world’s first blockchain-based microgrid. Meanwhile, EPEX SPOT will use its international power trading infrastructure to create a broader source of availability.

Eventually, the partnership will allow consumers to buy and sell surplus energy from neighbors or faraway strangers.

Companies also aims to help solar panel owners sell their excess energy back to the grid to be stored in batteries operated by the two groups, while consumers can purchase this excess energy during times of need.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   88

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.