Decentralized energy will power the future of DeFi

Decentralized Energy DeEn should become a part of the decentralized finance industry as it uses DAPPs and Ethereum smart contracts.

Independent electricity suppliers

On July 31, Berlin-based blockchain startup Lition released a paper that highlighted the impact of DeEn applications on the future development of the decentralized finance industry (DeFi). DeEn Services operate on the same principle as DeFi Apps, allowing the consumer to choose their own electricity providers.

DeEn will develop green power plants

Similar to DeFi, decentralized energy services are a peer-to-peer P2P network where the consumer contacts the service provider directly, bypassing unnecessary intermediaries, as in the traditional energy industry. Thus, the consumer can control the type of electricity production and change the supplier at any time.

As an example, Lition cited their own service: a peer-to-peer network without intermediaries, in which smart contracts and blockchain allow consumers to obtain affordable energy from renewable sources, caring for the environment.

DeEn must provide a decentralized finance market

The DeFi ecosystem continues to evolve, constantly expanding, and scaling the market. Accordingly, a large number of applications, blockchain networks, and services require a large amount of electricity, the sources of which cannot be tracked at the moment. For the further development of the industry, it is necessary to take DeEn out of state control, making them truly decentralized, according to Lition.

Note that the European Union by 2050 is going to completely switch to renewable energy sources, primarily using solar and wind power plants.