Back to New at Nirolution Blockchain Use Cases Blog
- Electromobility Database
- Crypto Chip
- Energy Certificate of Origin
- Decentralized OTC Wholesale
- P2P Marketplace
- “Blockchain Energy Use Cases” – Conclusion
Electric mobility is one of the trend topics of the present time. The expansion of the charging infrastructure is progressing rapidly. So one of the major problems is roaming charges. There are many players in this market and yet every customer should be able to charge at any provider. Therefore, different companies have to work together closely. As a result, we have inefficient and slow processes.
Blockchain can enable the market players to use a shared database. So if a customer uses a charging station, transparency is mapped to a common database. This can simplify billing a lot. As a result, we can eliminate roaming charges and costs.
If a generation plant is used, you have to register it. Registration is an inefficient and long process. Thus, this will be a major problem, especially with the expansion of the energy industry.
We can automate the registration process with blockchain in combination with smart meter gateways. So this involves a
built-in crypto chip, which promises secure and electronically verifiable authentication of energy plants. And since everything is on the blockchain, nobody can cheat. So this means that the registration of decentralized energy plants can be completely automated.
Energy Certificate of Origin
For electricity and gas consumers today, it is almost impossible to trace the origin of the energy. We can only prove it with inaccurate certificates. However, this is becoming increasingly important in a decentralized market. Also, consumers nowadays demand more and more transparency.
For the first time, we can trace electricity from generation to consumption on the blockchain. Thus, companies and customers get a precise certificate of origin. So, this will significantly improve the quality of information and transparency on electricity and gas.
Decentralized OTC Wholesale
In over-the-counter wholesale trading, the business partners must know each other, or they need brokers. Both parties negotiate the electricity trading contracts individually each time. However, in an increasingly bilateral market, this leads to immense inefficiency and higher risk.
With Blockchain, we can trade anonymously and automatically. Thus, in over-the-counter wholesale electricity trading, a trader makes an anonymous bid on the blockchain. Therefore, the bid of the dealer can not be traced. Only after both have submitted the bid anonymously they sign the contract. Thus, this allows traders to negotiate directly with each other without third parties.
More and more households generate energy themselves. They have to sign a contract with an energy company to take the excess storm. Therefore, we have to bow to big companies and their prices.
With Blockchain, we can create a P2P marketplace. Not only private energy producers, but also smaller companies can sell energy that way. Thus, this creates a whole new market dynamic. As a result, we can finally start trading energy directly with each other.
“Blockchain Energy Use Cases” – Conclusion
The energy sector is one of the most promising industries for blockchain technology. We have many players here who need to work together. They also need to guarantee a high level of security. So blockchain enables us to do just that. Companies can share a database without having to trust each other. At the same time, nobody can cheat, and we can create a safe environment. As a result, blockchain will reshape the energy industry and create new business models.
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