As revealed in a major press release by one of the major electricity and gas transmission giants in Singapore, SP group has recently launched a new marketplace for blockchain powered renewal energy certificate. The release of the same was made at the ASEAN energy business forum held in Singapore this week.
Through this release, the group is expected to improve the transparency factor of the entire process and offer a seamless and secure way for the business to operate as a whole.
While the first few contracts are being said to have been signed already, it is being believed that this new marketplace will come to support not only international REC’s but also aid locals. IT is also being circulated that three of the major solar energy sellers, Cleantech Solar Asia, LYS Energy solutions and Katoen Natie Singapore are also in talks to join this marketplace.
While Singapore is already known for its blockchain energy solutions, it is being said that this new move will bring power to the local citizens as well. This move is being seen as a major form of decentralisation which will largely affect the purchase and sale of electricity.