Grid+ has officially received(https://texascryptoalliance.wordpress.com/2018/06/21/breaking-grid-receives-state-of-texas-approval/) the State of Texas’ blessing to sell retail electricity in Texas, making it one of the first crypto projects (not including exchanges) to have received approval by the government! This is huge news for Grid+, Texas and the crpyto industry as a whole.
The Public Utility Commission of Texas is the state agency that regulates the state’s electric utilities and it just approved Grid+ application for a Retail Electric Provider Certificate. A Retail Electric Provider (REP) has regulatory approval to sell electric energy to retail customers in the areas of Texas where the sale of electricity is open to retail competition (most of Texas). A REP buys wholesale electricity, delivery service, and related services, prices electricity for customers, and seeks customers to buy electricity at retail.
Grid+ is also one of the first utility tokens to actually have a utility in the real world, let alone one with regulatory approval in the United States. A utility token provides the user with current or future access to a product or service. Most utility tokens in crypto have a fancy website, a white paper, and twitter influencers pumping them, but no real world utility in sight. Grid+ took the opposite approach and kept a low profile while they worked on providing an actual product and getting regulatory approval.
Grid+ develops hardware and software solutions to bring next-generation efficiencies to energy markets, and welcome savings to consumers and is based in Austin, Texas. Grid+ helps you leverage devices in your home to lower your usage and save on energy. By utilizing smart predictions about the current price of energy, you can allow your smart agent to turn off your air conditioning, pool pump, or other devices at just the right times to lower your spend. Basically, you can use your Grid+ tokens to purchase discounted electricity, to use your electricity in a more efficient manner, and potentially to sell stored or excess electricity back to the grid.
Next step for Grid+ is Beta testing in Q3 2018 and opening to the public in Q1 2019, sign up here to get in line.
Content provided by the Texas Crypto Alliance(https://texascryptoalliance.wordpress.com/), Covering the intersection of the Texas public policy process, blockchain and cryptocurrencies like Bitcoin.