China to test green energy trade on blockchain – Bits Media

National Development and Reform Commission of China approved the blockchain testing for the trade in green energy throughout the country by the two largest operators of the Chinese energy networks.

In a statement on its website, the National Commission for the Development and Reforms of China (NRDC) gave an official response regarding the use of blockchain to trade in green energy to two national operators of Chinese energy networks - State Grid Corporation of China and China South Power Grid Corporation.

According to the unnamed official NRDC, Blockchain - one of the technology, which can be implemented in trade in "green" energy, since it allows you to safely “record information about each production link, Transactions and consumption of green energy ".

According to the State Media People’s Daily, Two energy networks will launch sites for trading in green energy - one in Beijing and in Guangzhou. According to NRDC, State Grid has applied for a patent for certificates of “green” energy on the blockchain.

NDRC hopes, that the trading system on the blockchain will not only help China achieve the goals to reduce carbon emissions, Stimulating the use of "green" energy, but it will also become a solution to global energy problems.

State Grid also tests the data management technology on the blockchain. Recall, that in July the Chinese city of Tianjin, famous for its heavy industry and refineries, issued China's first blockchain carbon offset certificate.