CMU about to Launch Peer-to-Peer Energy Trading Initiative

 | Fri 10 May 2019 13:55 ICT

CityNews – The International College of Digital Innovation, Chiang Mai University revealed a peer-to-peer energy trading initiative it is launching with Power Ledger.

On May 10th, a press conference was held at the International College of Digital Innovation (ICDI), Chiang Mai University to announce an upcoming conference under the topic “Reforming a Society with Blockchain”.

“We want people to know that blockchain is not something to be intimidated by,” said Kanya Hirunwattanapong, Assistant Dean for Academic Affairs at ICDI. The one day conference will consist of five topics involving blockchain and energy, smart contracts, smart city, medicine and health care, and payment roadmap and linkage to ASEAN. The aims are to strengthen Chiang Mai’s digital innovation and financial technology and promoting widespread understanding of the potential of blockchain technology In terms of contributing to not just the economy but also to society on many levels.

Thailand has been proactive in regulating cryptocurrency with several having been legalised under the Business of Digital Assests Decree Act 2561 BE (2018) while the Bank of Thailand is developing its own digital currency. “We need to step up in the game,” said Asst Prof Dr. Nopasit Chakpitak, Dean of ICDI referring to the smart city initiative in the northeastern region. As Dr. Nopasit was introducing speakers at the conference, one of the projects involving blockchain technology that Chiang Mai University is working on is called Power Ledger, a peer-to-peer energy trading platform planned to be invested in and located at the university. “The university will have 25 megawatts of power in hand. Imagine villages, some spend lesser power than others, some spend more. What this does is the village that use lesser power and has spare power left, the spare power can be sold to the other village that has demand,” explained Dr. Nopasit. This system is planned to be installed into every faculty in the university.

At the conference, the Co-founder of Power Ledger will also be giving a talk along with digital innovation experts from Singapore and Thailand.

Reforming a Society with Blockchain will be held on May 24th at Chiang Mai Grandview Conference Hall, Chiang Mai Grandview Hotel. Free admission.