A blockchain based Solar Project was recently showcased by the NIMRAY Group, India at the Paris Peace Forum, held between 11th and 13th November 2018. The project is based upon the decentralized production and supply of electricity from the Solar energy, with an aim to meet the ever-increasing demand of worldwide power requirements.
The project’s motto is to generate, conserve, trade and share solar energy by creating an efficient network which provides affordable, clean and properly recorded transaction system to allow home energy generators to sell the extra power profitably. As per the report, the system acts by connecting the users to the nearest microgrid to generate solar energy without the need of installing any solar panels. This reduces the need of a centralized party to verify the transactions and also effectively reduces costs.
With NIMRAY Solar Project, both producers, as well as consumers, can join the project and remain rest assured that the platform will cater to their needs in an affordable manner, says the team behind the project. The NIMRAY Solar Project was one of the five environment-related projects chosen from India to be showcased at the Paris Peace Forum, this year. Out of the five, the other projects were the ACT Project by Earth5R, the Climate resilient zero-budget natural farming by the Government of Andhra Pradesh, the Network of Southern Think Tanks and STAR C by International Solar Alliance.
This year, a total of 120 projects were selected to be displayed at the Peace Forum from 42 countries. The projects were categorized into five themes: Peace & Security, Environment, Development, New Technologies, and Inclusive Economy.