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- VeChain’s immutable data tracking ensures real-time monitoring and secure records, boosting stakeholder confidence and operational reliability.
- SolarWise has implemented VeChain technology at its first solar farm in Paraná, with plans for a DApp offering real-time energy data and predictive analytics.
VeChain is now revolutionizing the solar energy industry in Brazil through blockchain integration. SolarWise, a renewable energy firm, has adopted VeChain’s blockchain capabilities to track data in a precise and immutable manner for its energy production operations. This innovative approach will redefine transparency and efficiency in the industry.
How VeChain’s Technology Aids Brazil’s Solar Energy Sector
The VeChain technology can trace the energy produced in real-time, and its record of performance and usage for solar panels will be unalterable. It not only adds efficiency to operations but also helps investors and other stakeholders feel more confident about receiving reliable, sustainable energy solutions.
The blockchain-based system has already been implemented at SolarWise’s first solar farm in Paraná, which has recently started producing energy. A DApp for real-time monitoring is also under advanced development. This DApp will enable users to view all the energy data, thus promoting transparency and trust, as previously mentioned in our report.
Moreover, SolarWise plans to roll out a mobile application that integrates seamlessly with the VeChain blockchain. This app will provide users with detailed insights into their energy production, offering daily, weekly, and monthly data reports. Additionally, the application will include predictive analytics, enabling users to forecast future energy yields.
The user-friendly platform aims to simplify energy management for individuals and businesses. It further enhances the appeal of renewable energy solutions backed by blockchain technology.
The firm aims to stretch out the influence of solar energy and is reaching an agreement with regional suppliers of energy for partnership deals in order to attain easier accessibility into wider markets to increase the circulation as well as advertising of energy made from sunlight. This would promote the demand for renewable energies. It brings blockchain into current options in terms of energy provision.
Energy Payouts Offered Through VET Tokens
SolarWise is also integrating cryptocurrency into its business model by allowing the option of paying in VeChain’s native coin, VET. This program will be initiated by the end of January and marks a crucial milestone in blockchain integration with renewable energy generation. The company is currently finalizing all regulatory clearances in Switzerland to enable this feature.
Amid the ongoing partnerships, the price of VET tokens has been pretty volatile lately. As of writing, the VET price surged 5.33% in 24 hours, trading at $0.04614. Still, a decline of 17.68% in the last 30 days indicates how volatile the token has been against the market trends.