Elering and WePower partnership will bring energy tokenization

The era of tokenization is booming rapidly across several industries. One of the blockchain based green energy platform, WePower is teaming up with Estonian national transmission operator, Elering. The partnership announces the pilot project, aims at stimulating large-scale energy data on the blockchain technology in Estonia.

Energy tokenization

However, this project is first of its kind in Europe that link European green energy producers to the Estonian Smart Grid. WePower will incorporate its crypto trading green energy platform into Elering’s Estfeed data exchange. Nonetheless, It will direct proof-of-concept system for Estonia and explicate nationwide energy consumption and production data on the blockchain.

The firm is testing actual scalability for tokenized asset trading through Estonia’s existing infrastructure, particuarly 100% smart meter coverage with hourly energy production data. Additionally, project could be an active link between green energy producers and traditional grid operators.

Moreover, founders of both the companies believe the project would be the turning point to prove scalability of blockchain in the energy industry. Accordingly, Nick Martyniuk who is the Co-founder and CEO of WePower alleged its gratitude of partnering with Elering AS.

It is the first step in our goals of making the smart grid greener, he added

More details on WePower and Elering’s pilot project can be found here

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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