· April 30, 2018 · 1:00 am
First Ever Blockchain Energy Trade Completed in the UK
Verv has added another first to its list of achievements in the energy trading business. The company’s smart hub has been used to facilitate the first blockchain energy trade transaction in the U.K. This comes barely five months after the company its energy trading community in a Hackney housing estate.
Details of the Trade
Using technology created by Verv, one kilowatt-hour of solar electricity was sent to another residential building on . The electricity that was traded was generated from an array of solar panels on one of the roofs of an apartment block in the estate. The trade was carried out via Verv’s . It is reported to be the first ever physical blockchain energy trade in the U.K. The trade can be viewed on the platform.
Commenting on the successful trial, Roger, a resident of the Hackney housing estate said that:
Until now, we have been unable to take advantage of the solar panels on the roofs to power our homes due to the structure of the UK electricity market.With the installation of our Verv smart hubs, we are being empowered to generate, store and trade our own community energy and I’m really excited to see how this trial evolves! It’s safe to say energy costs are very high and it’s important, more now than ever, that solutions be sought.
Peter Davies, the CEO and founder of Verv also commented, saying:
We’re so pleased to be bringing the Verv renewable energy trading platform to life on Hackney’s Banister House Estate, we want to use this technology to empower the residents to innovate and create their own trading community. We plan to use the results of this trial to roll out more energy trading communities across the UK and in turn globally.
Verv CEO, Peter Davies
The Verve P2P Energy Trade Pilot Project
Verv launched their peer-to-peer energy trading pilot project in November 2017. The project is part of the initiative and is supported by a £100,000 government grant. The overall aim of the project is to create a framework for blockchain-based clean energy trade.
Verv has recently launched its which will provide access to the platform’s blockchain energy trading network. The company has also launched the pre-sale of the tokens in preparation for the main ICO.
The Verv project is one of many around the world. Companies like Power Ledger, BCPG, KWHCoin etc are among the leading startups that are involved in the “.” Many experts have also identified the energy sector as one of the areas that could be disrupted by blockchain technology.
Do you see a future in the blockchain energy trade market? Can blockchain disrupt the energy economy? Please share your views in the comment section below.
Image courtesy of LinkedIn, Shutterstock
Published at Mon, 30 Apr 2018 05:00:23 +0000
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Price Analysis: Cryptocurrencies Hit $100 Billion Market Cap as Bitcoin Reaches for New Highs
bitcoin approaches a new all-time high (ATH) in price and market cap as we re-enter a mode of price discovery. All of this occurs in the settling of an unresolved block size and scalability debate set to be disrupted with the UASF on August 1. Cryptocurrencies, as a whole, now hold over $100 billion in market cap for the first time. While bitcoin (BTC) leads the pack at just over $46.6 billion, or 47.9 percent of all cryptocurrencies, the recent surge in these other coins has helped to push the total cap over the top.
$100,000,000,000
— Λce (@AceOfWallStreet)
Since the Bitfinex hack low on August 2, bitcoin has traded better than JP Morgan, Goldman Sachs, Tesla, Apple, Google and gold. One of the few stocks to match the frenetic pace of bitcoin has been Nvidia, which is up over 200 percent since July of last year.
bitcoin is also trading much better than all the major payment processors including Visa, American Express, Mastercard, Capital One, Discover and PayPal.
The strong upward trend of global OTC volume suggests this is not an isolated incident, limited to Asian countries alone, but indicates organic growth of price worldwide. The deflationary aspects of bitcoin are having an unquestionable role in shaping the supply/demand curve.
Although China, Japan and South Korea are trading at a ~$100-plus premium compared to the exchanges in the United States, most of the volume in the past 24 hours has been driven by USD.
There is no certainty of a top until bullish momentum and buying are exhausted, but you can use Fibonacci extensions, previous fractals and pivots to find resistance targets.
Price broke the critical resistance level of 50 percent of the pullback on June 1 and has not looked back. Each Fib has shown both support and resistance on the way up, so with a reasonable degree of probability, the Fib extensions should be seen as resistance targets as well. This would bring price in the zone of $2,950–3,300 on the index.
Looking at the bigger picture, the Fib extension of the previous down fractal yielded a price almost three times the low. Using those same Fibs, this would bring the price to around $6,500 when this next run-up is all said and done.
There is also a growing bearish divergence with higher highs in price and lower highs on RSI (white diagonal line). The bear divergence can be negated with new high on RSI. Last, monthly pivots also yield a resistance maximum (R5) at around $5,800.
Summary
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A new ATH is extremely likely, with continued demand for bitcoin and cryptocurrencies worldwide.
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Despite the heavy premiums in Asia, USD trading volume leads the rally.
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Based on technicals, targets above $3,000 are extremely likely in the near future.
Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on bitcoin Magazine and BTCMedia related sites do not necessarily reflect the opinion of BTCMedia and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
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