“Electricity consumption is projected to rise by 130% to 2030.” – 03:22
Jemma Green, Co-Founder & Executive Chairman at Powerledger, joins Remy Blaire to discuss how blockchain platform revolutionizing the energy market. The episode focuses on the integration of PowerLedger with the Solana blockchain, which enhances the speed and scalability of energy trading.
Remy opens the conversation by asking Jemma about the concept of taking the energy market on-chain. Jemma explains that PowerLedger was established nine years ago with the goal of enabling households, businesses, and energy utilities to track and trace every kilowatt hour of energy. She highlights the issue of “greenwashing” in the energy sector, where misleading claims about renewable energy are prevalent. By utilizing the Solana blockchain, PowerLedger can provide greater traceability, improve consumer confidence, and reduce instances of fraud.
As the discussion progresses, Remy prompts Jemma to elaborate on how Solana supports PowerLedger’s operations. Jemma shares that the platform initially operated on a different blockchain but migrated to Solana due to its superior speed and efficiency. While their previous blockchain could only handle 15 transactions per second, Solana can process an impressive 50,000 transactions per second. This capability is crucial for managing the large amounts of data generated by smart meters. Jemma also emphasizes the importance of low costs and energy efficiency, aligning with PowerLedger’s mission in the energy sector.