This interview is part of our new Blockchain In Energy series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and energy.
In this interview we speak with Richard Lohwasser, CEO of Lition, to understand how his company is using blockchain to transform the energy business, and what the future of the industry holds.
1. What’s the story behind Lition? Why and how did you begin?
RL: My co-founder and I have worked in the energy industry for a couple of big players in the German utilities market. We had the idea of utilising blockchain technology in the energy sector but we were not taken seriously by the traditional utility companies. So, we both left our jobs and started developing the tech behind Lition Energie.
2. Please describe your use case and how Lition uses blockchain:
RL: Lition is a p2p energy trading platform that connects clean energy producers and suppliers directly with end users on the blockchain. We launched our energy exchange dApp in April 2018, and we now serve a customer base spanning over 100 cities in Germany. Once a user finds the energy they want to buy, they make a payment in Euros to Lition. Our blockchain technology takes over, simplifying the process of buying energy directly from green producers of any scale by employing transparent smart contracts that allow consumers to circumvent all of the complexity of energy distribution brokers. The customer then automatically gets their energy.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
RL: As we connect customers directly to producers, we are able to cut out the middlemen. We are saving customers an average of 20 percent on their utility bills, and power plants are seeing increased revenues of up to 30 percent. Our customers get to choose their green energy from wind, solar or biomass, and their preferred provider. The energy is delivered automatically once processed. Another benefit for customers that they do not need to buy any crypto to take part.
4. What other blockchain energy use cases are you excited about?
RL: Alongside P2P trading for households, we believe electric vehicle charging solutions are really interesting. Picture charging your car at any charging station, and through your wallet you get the energy from your favourite power plant not just to your house, but also your car.
5. Where will Lition be in five years?
RL: Lition's vision is to be the standard blockchain for business. Whenever a commercial company looks for a blockchain infrastructure for real customers, that requires volume and private data that needs to be legally compliant, Lition should be the solution of choice.