Toronto Pilots Blockchain Based EV Charging

ev car

The government of Canada has granted $1 million to demonstrate “an innovative blockchain-based EV charging platform that will significantly reduce the cost of EV charging transactions and enhance grid efficiency.” The pilot is to last until 2020 at the PwC and the IBI towers in downtown Toronto and is led by Switch Energy together with Opus One. Switch appears to specialize in Electric Vehicle (EV) charging technology while Opus One provides the software side of the project. What makes this pilot stand out is its bi-directional charging mechanism through “transactive energy networks.” The idea is somewhat simple. Electric cars are batteries on wheels. Instead of just taking energy, therefore, they can also store energy and sell it, in this case to buildings. “You are going to have an abundance of battery reserve storage that’s just sitting there — most people only drive their vehicles 10 per cent of the time.…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE