From our early ancestors discovering and mastering fire, to our 20th century appetite for splitting atoms, our understanding and need for energy has never been greater. Along the way, we have continuously forged better and increasingly sustainable methods for generating energy.

Source: U.S. Energy Information Administration

One thing that has remained constant for the past 200 years however, has been the proclivity for a few select entities to control the supply and pricing of energy.

The global energy market is monopolized by large multi-billion dollar corporations that control the central supply and distribution of electricity. Having spent billions on electricity generation assets that are bolstered by the fossil fuel industry, they have been reluctant to adopt renewable sources of energy, lobbying to influence public opinion and obstruct innovation.

Even so, as prevailing beliefs regarding renewable energy, self-reliance, and a shared economy change, so do these corporations pivot to retain their dominance in the next age of renewable energy.

Enter the Blockchain

With the boom in blockchain related disruptive technologies, we have witnessed a wave of projects that aim to refine various aspects of the energy market. Most projects to-date are developing solutions related to smart grids and P2P energy trading. The ambition of these projects relies on some key factors, such as large-scale penetration of local energy storage solutions and the ability to integrate their platform with the various entities who control the local grid (e.g. utilities and independent system operators). The former would require a breakthrough in battery technology and the latter an ability to overcome regulatory barriers set in place by local and state level jurisdictions.

There has yet to come a scalable platform — on or off the blockchain — that allows individuals and communities easy access to ownership of renewable energy while navigating technological, regulatory, and corporate obstacles.

Our goal at XiWATT is to deliver that platform, with the legal and logistical frameworks necessary to support complex projects. The blockchain plays an integral role in the platform by providing transparency, governance, and liquidity around the crowdfunding, management, and trading of renewable energy assets.

As we move towards a more sustainable and energy efficient world, XiWATT’s mission is to shift the landscape so that energy is owned by the people. We encourage you to visit our site and read our white paper when you get a chance. Feel free to also join our Telegram group to stay up to date with the latest information.