Now India has joined the league of Blockchain aspirers. It has decided to manage power management in its country through it. One of the states, Uttar Pradesh (UP), has taken the first step. It will use Blockchain to empower customers to trade generated renewable power among themselves without the need of any third party.

People generating renewable energy from solar power can sell it to other beneficiaries without the need of any third party. This will enable the individuals to reduce the need of any middlemen. Hence, the process will become time-effective as well as cost reducing.

India is gearing up for creating smart cities. It has plans to install smart meters through which people can sell their extra reserved renewable power back to the grid. Of course, the power generated from a natural source and store inside batteries. However, the new blockchain proposal has something new to suggest. Also, the technology will enable customers to trade power among themselves instead of sending them back to the grid. Of course, the entire process will be carried out through a decentralized network meaning no interference of any third party.

Also, the UP Electricity Regulatory Commission (UPERC) is going to organise a conference on October 10. The main motive behind this meeting would be to discuss the effects of blockchain to generate and supply renewable energy.

UPERC Chairman, RP Singh opined that UP has the ability to produce an immense amount of solar power. Adding the power of blockchain to it would bring a revolution in the power management sector and would open windows for new nvestments in the field of renewable energy.