Smart Energy Tokens

We are issuing Smart Energy Tokens which can be used for Peer-to-Peer or Peer-to-Grid trading in any nation or currency

Comment 19

Inspiration

In the past, our iMaaS (integrated Microgrid as a Service) platform managed energy trading using a risky, homegrown fiat/Hbar exchange utility. We have been seeking ways to mitigate price volatility risk exposures while taking our product and services to different countries and currencies.

What it does

Power Transition is using HTS to issue the first fungible, decentralized energy trading currency, Smart Energy Token (SET). SETs are minted to match dynamic energy pricing in any nation or region.

How we built it

We incorporated HTS into our energy trading Dapps in conjunction with HCS and our own MirrorNode to enable automated as well as manual buying and selling among peers. Using the Java Hedera SDK we built our HTS Dapp backend in Java and frontend using Angular JS.

Challenges we ran into

Our principal challenge was creating a way to easily and flexibly issue various Smart Energy Tokens in a single Dapp which can be tethered to any fiat currency. We have worked on TestNet and MainNet and have not come across significant technical challenges but were able to get HTS up and running in record time, working harmoniously with HCS and our MirrorNode.

Accomplishments that we're proud of

HTS has enabled our team to create the first truly stable, extremely high performing and easy to implement, energy trading platform run on DLT.

What we learned

The possibilities of HTS use cases are only limited by our imaginations! We can add value and attach further information to our tokens during each buy/sell operation along the energy supply chain. These include green energy certifications, and energy aggregation and brokerage services for large commercial energy consumers. Also, during operations, it is much easier for us to segregate pure energy trading values with DLT network and microgrid/grid charges and account for them separately.

What's next for Smart Energy Tokens

We are now investigating ways to quantify and trade energy sector related carbon emissions. By Q4 2021 we plan to be running a working prototype of an open-market energy and carbon auction platform based on HTS.

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Updates

posted an update —

Dear Hedera Community, Many thanks for all your invaluable ‘likes’ and comments! We did receive some feedback from you saying that not all the application presented was written during the Hedera 21 Hackathon. As described, we have an existing Energy Trading Platform, iMaaS (integrated Microgrid as a Service). However, we have worked tirelessly during H21 to incorporate HTS into our product. HTS is an excellent tool and has revolutionised our approach to Energy Trading to help democratise energy across the world and empower impoverished communities. The code we submitted on GitHub only relates to the work we achieved with HTS. We believe that it is the incorporation of HTS into live, real-world situations which resolve actual problems that shows HTS in its true colours. Sincerely, Jiro

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