EnergyUp – A Blockchain Based Application for the Exchange of Renewable Electricity to Help Early Stage Startups, the project, aims to solve a problem related to electricity in entities. Many entities in regional areas are creating more electricity than they require. We want to create an application which can be used to trade electricity from renewable sources and provide this as a commodity to startups. Therefore instead of donating/contributing money, funders can contribute other commodities (in this case electricity) which often is more important. This is a novel approach that can prove very effective. We will create a web based application based on blockchain to create a decentralized system to achieve this.

 

Our deliverable will be a prototype of the application which can interface with the Deakin University Power Grid. The application will use a blockchain for the decentralized trading of the electricity. It will also act as a “marketplace” where providers can look at startup projects and decide how much electricity to donate.