Hedera 2021 Virtual Hackathon

Code repository

(Hackathon Code) *

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Project overview video

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In the past, our iMaaS (integrated Microgrid as a Service) platform managed energy trading using a risky, homegrown fiat/Hbar exchange utility. We have been seeking ways to mitigate price volatility risk exposures while taking our product and services to different countries and currencies.

What it does

Power Transition is using HTS to issue the first fungible, decentralized energy trading currency, Smart Energy Token (SET). SETs are minted to match dynamic energy pricing in any nation or region.

How we built it

We incorporated HTS into our energy trading Dapp in conjunction with HCS and our own MirrorNode to enable automated as well as manual buying and selling among peers. Using the Java Hedera SDK we built our HTS Dapp backend in Java and frontend using Angular js.

Challenges we ran into

Our principal challenge was creating a way to easily and flexibly mint various Smart Energy Tokens in a single Dapp which can be tethered to any fiat currency. We have worked on TestNet and MainNet and have not come across and significant technical challenges but were able to get HTS up and running in record time, working harmoniously with HCS and our MirrorNode.

Accomplishments that we're proud of

HTS has enabled our team to create the first truly stable, extremely high performing and easy to implement, energy trading platform run on DLT.

What we learned

The possibilities of HTS use cases are only limited by our imaginations! We can add value and attach further information to our tokens during each buy/sell operation along the energy supply chain. These include green energy certifications, and energy aggregation and brokerage services for large commercial energy consumers. Also, during operations, it is much easier for us to segregate pure energy trading values with DLT network and microgrid/grid charges and account for them separately.

What's next for Smart Energy Tokens

We are now investigating ways to quantify and trade energy sector related carbon emissions. By Q4 2021 we plan to be running a working prototype of an open-market energy and carbon auction platform based on HTS.

Application Built With :

Angular JS HCS Hederasdk HTML Hts Java MirrorNode MySQL