The blockchain is coming to Australia's electricity grid. On Aug. 25, 2016, a group of neighbours will test a system to trade excess energy from solar panels between themselves using a blockchain to record the transactions. Run by local start-up PowerLedger, the trial at a retirement village in the city of Busselton, Western Australia, is another sign of the energy industry's growing curiosity about the technology. A blockchain is a cryptographically secure ledger of every transaction made in a system, stored across every computer in its network. As every computer has a continually updating copy of the ledger, no central authority is in control. Instead, the computers essentially monitor each other to prevent fraud.
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