Philippines and its enterprises are embracing blockchain technology to improve their services and have an improved efficiency. The Energo Lab Foundation, a company based in Shangai, has decided to move its renewable energy trading token known as Energo (TSL), from the ERC20 standard powered by Ethereum, to Qtum’s blockchain.
Qtum Expands in Philippines
Qtum enthusiasts may be very happy with this least development. The Energo Lab Foundation has an impotent arrangement with First Gen, the largest clean energy producer in Philippines.
In this way, First Gen’s blockchain microgrid project will run on Qtum. That means that Qtum is being selected by other enterprises and businesses in order to run their projects and platforms. Qtum will allow to handle registration procedures, measurement, transactions, and settlement of the electricity run on the local microgrids.
Kakai Yang, founder and CEO of the Energo Lab Foundation, commented about it:
“Through combining the decentralization of blockchain with solar cells, energy storage and other hardware, we hope to accelerate the power reform in off-grid areas and devote itself towards making clean electricity more accessible to residents I remote areas in the near future. We are delighted to partner with De La Salle University on this case and wish to forge more partnerships with leading players in the clean tech industry.”
At the same time, Energo has decided to donate a hardware system to De La Salle University that is able to load 10 kilowatts. The intention is to promote the use of cleaner energy for powering the campus’ activities. In the next 20 years, the system could save up to 1.2 million Philippine pesos ($23,000 USD).
Qtum keeps expanding around the world. Back in February, Qtum announced that it’s collaborating with the Space Chain Foundation. The company wants to launch a standardized CubeSat that would provide unique advantages for Qtum users.
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