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Lition sells cheap electricity

11/07/2018
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Already more than 700 German households can save on the purchase of electricity. This is helped by the Lition platform, which is now reporting on the first results. Thanks to its efforts, customers buy electricity at 20% cheaper.

How does Lition work?

Decentralized service on the Ethereum platform was launched in early 2018 with the company's own money. It directly connects power plants and consumers, which allows excluding from the chain all intermediaries. The platform automatically processes the request of buyers and finds cheap electricity.

This turned out to be beneficial to all, as power plants receive an additional up to 30% of the usual amount. In Germany, there is a demand for "green energy". Although it is more expensive, public opinion is sympathetic to wind-driven generators and solar panels. Therefore, users can choose which power plant they should cooperate with.

So far, Lition is active only in Germany, and only in the territory of 12 cities. It plans to expand its activities in other EU countries, but an obstacle is compulsory licensing.

Prospects for the blockchain

However, the head of Lition Richard Lohwasser believes that his company has prospects for further development on a global scale. In particular, he is dissatisfied with the speed of the Ethereum platform, which gives a delay of execution of the order up to 30 seconds. Therefore, work is underway to create its own platform.

This example vividly shows how the blockchain is capable of improving the life of modern society. In this case, the total saving in deliveries reaches 50%, which allows to increase investment in energy production and reduce consumer spending.

And Lition is not the only one who develops this direction. In the summer of 2018, a similar project was launched in Spain. And the British Centrica is currently conducting tests to create a similar trading platform on the blockchain.

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