Energy can be sold without middlemen
Trading in the Korean market begins in late October

Energo Labs is entering the Korean market with the goal of building a DAE (decentralized autonomous energy) community. Energo uses blockchain to enable residents who own solar PV panels to sell energy without intermediaries.

Energo provides a solution that utilizes microgrids and supports energy producers in selling energy to energy consumers. This implies real-time P2P energy trading. In other words, consumers who want a specific amount of energy can use clean energy stored in microgrid batteries or through the Energo app, and pay the energy producers directly with their monthly electricity bills.

Energo's core products are based on the Qtum blockchain platform and include hardware infrastructure used for clean energy measurement, trading, and settlement. Each home in the microgrid is equipped with a smart meter that digitizes not only the amount of energy consumed but also the amount of energy produced by solar panels. The smart meter connects to the Energo app and is used for energy trading.

Korea is a suitable location for implementing P2P energy trading projects as the gigawatt photovoltaic (PV) cell market is growing rapidly. In such projects, neighbors with solar PV cells can buy and sell energy to each other at a lower price than existing electricity rates.

Blockchain guarantees security because transactions such as energy production or consumption cannot be modified. Energy trading is conducted using Energo's TSL token, and trading of Energo is scheduled to begin in the Korean market from the end of October. In addition, blockchain blocks dishonest or lost data because it ensures security and eliminates the need for third parties involved in approving transactions.