Usecase: Lition Energie

The first use case on the Lition Blockchain is expected to be the Lition Energy. Lition Energie is a German digital marketplace that connects consumers directly with renewable energy producers from all over Germany. Without detours and unnecessary additional costs. The customer chooses the green energy producer himself, this way they know exactly where the energy comes from and where their money goes. [1]

Read more here: https://lition.de/

The current problem with the energy sector

Nowadays, the consumer has to buy his electricity from a retailer, who gets his electricity from the European Energy Exchange (EEX), which gets the electricity from the different producers. This outdated process generates unnecessary additional costs for the customer.
Lition Energie wants to circumvent this with the help of blockchain and a P2P trading system![2]

Visualization of the energy [2]

How does it utilizes the blockchain?

The P2P energy trading dApp connecting renewable energy producers directly to consumers via its blockchain-based Energy Exchange platform. By implementing a novel end-to-end energy exchange system, this Lition use case bypasses unnecessary middlemen within the energy supply chain. The combination of a blockchain solution with highly efficient corporate processes and service operations that are built on cloud-based solutions (SaaS) allows lower costs for energy customers while providing energy producers with higher profit margins.[2]

Every transaction on the Lition Exchange generates an event on the Lition Sidechain, which will be mined by the network nodes. This process will be paid in $LIT to the nodes. This generates a constant flow of revenue for Node owners who support the Blockchain.

Example: illustration of the trade of energy via the Lition Blockchain [2]

The Benefits?

As an enabler, Lition takes out middlemen that, in the energy industry, are conglomerates and have generated excessive profits for decades. As a result of the blockchain-based peer-to-peer energy trading, highly efficient corporate processes, and dedicated focus on digitization, customers benefit from record-low prices; their most relevant decision criterion. Currently, customers are saving approximately 20% on their monthly energy bill, which makes Lition Energie one of the cheapest energy suppliers in the market. Additionally, customers get to choose and support the power plant directly, so the choice isn’t made by a big utility, but rather by the customers themselves. It is their contribution to a greener future.[2]

This is only the soon-to-be first use case of the Lition Blockchain! Tomochain Lab would like to establish Lition additionally in enterprise environments, like central banks!

Learn more here:

Disclaimer - This article and pictures are based on the following sources:

[1] Lition Energie

[2] Lition Blockchain Whitepaper

$Lition Promoter — the ecosystem optimized for financial applications