The main idea behind YYE Energy’s blockchain based energy trading platform is to allow everyone to trade in the new energy future. It wants to revolutionize energy distribution which is currently monopolized by a few companies. It plans to change this old and inefficient energy market. The goal is to allow all investors to trade in the energy market. They will do this with decentralized blockchain account book. This solution will reduce the carbon footprint of user’s property and allow everyone to participate in the energy market.
YYE Energy plans to combine different systems of energy distribution. Its proprietary blockchain technology will allow establishment of green energy microgrids. A trading platform will offer superior charging solutions for two-wheeler electric vehicles. There are more than 400 million EV commuters in China alone where the company is making its first move.
The company will work strategically with YiYuan Energy Company of China which has bases in Taipei, Yantai and Dongguan for R&D. YiYuan came up with Smart Charging Station in 2015. That solution has been working in 10 major provinces including Hunan, Fujian, Guangdong and Anhui. Thousands of these stations have been deployed successfully. It carries national standard certification from the Chinese government.
Simultaneously DLT (Distributed Ledger Technology) was launched by Taiwan’s BiiLabs. This blockchain technology company used innovative DLT solution to make it easy to trade in the energy market of charging stations. This solution offers many advantages including real-time settlement, transparent transaction, blockchain anonymity, transaction information that cannot be tampered, and others. Information about users and the charging stations are available in real-time. It takes advantage of the latest technological solutions like AI cloud, energy cloud and IOT. Those solutions have been combined with the big data and blockchain technology to offer investors a dynamic trading platform.