U Power Limited has launched its Battery-Bank initiative and developed a Battery-Token solution. The company will power both efforts using Web 3.0 blockchain and token-based economics. This battery-swap blockchain strategy marks a major step in decentralizing energy storage and distribution for electric vehicles, U Power said.
Chatchaval Jiaravanon, U Power’s strategic investor and a member of Asia’s influential CP Group family, announced the initiative during the “Web 3.0 Battery Swap Ecosystem Strategy Launch” event in Hong Kong on June 20.
“U Power’s strategy of building intelligent ecosystems that integrate solutions able to transform EVs into dynamic energy assets. It has propelled the company at the forefront of a global technological revolution for a more sustainable future. We are building a green, sustainable carbon-zero energy storage ecosystem in several markets including Hong Kong SAR, Singapore, Macau SAR, Peru, Mexico, Portugal,” said Jiaravanon.
U Power plans to establish its battery-swap blockchain ecosystem across several global markets. These include Hong Kong SAR, Singapore, Macau SAR, Peru, Mexico, and Portugal.
Source: thebuzzevnews.com/
