NFTs for renewable energy certification — A solid use case

NFTs: a brief introduction

NFT stands for Non-Fungible Token, a term used to define digital assets with unique characteristics. From digital art, fashion items, collectibles in the metaverse, and memorabilia, non-fungible is just the technical term to say “unique” and “irreplaceable” as opposed to fungible assets like dollars or Bitcoins (BTC). The main difference is pretty straightforward: if you exchange a one-dollar bill for another dollar bill with a friend, you will end up with the same exact thing. The same would apply to BTC. On the other hand, trade a real Picasso for a replica, and you will regret it for life.

NFTs for Renewable Energy Certification

Due to the nature of the electrical grid, it is physically impossible to claim that an electron coming out of a socket is produced by carbon-free sources. To solve this issue, Energy Attribute Certificates (EACs) were introduced around two decades ago to label the physical flow of electricity with unique characteristics (attributes) and enable consumers to choose their preferred energy source.

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FlexiDAO

FlexiDAO

FlexiDAO is a software provider in the energy sector aiming to accelerate the transition toward a decabornised world, leveraging on blockchain applications.