Blockchain use cases

Energy

Energy

The blockchain ledger is being used to reduce transaction costs, pinpoint origins of energy, and increase the efficiency of exchanges. Global Blockchain Technology in Energy main providers include IBM, Microsoft and Accenture, totally accounting for about 35% of the market. The energy industry, like any other sector, faces crucial challenges. Problems such as energy waste reduction, and accurate energy consumption recording are quite complex to handle and in some cases require a lot of intermediaries to carry on the job. This all translates into higher costs due to the different actors involved in the process and trust issues towards the providers that usually manage all the data internally, without easy and clear access for the consumer to the data.

UseCases

Trading Energy

Using the value-added service approach of the smart meter gateway, users can, for example, use blockchain technology to market virtual goods and services locally with so-called smart contracts.

  • A simple scenario is the sale of energy from solar cells to the immediate neighborhood.
  • Much more complex scenarios with energy storage, flexibility such as heat pumps, hot water storage and other market objects are also conceivable.

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Problem

Using the value-added service approach of the smart meter gateway, users can, for example, use block chain technology to market virtual goods and services locally with so-called smart contracts.

  • A simple scenario is the sale of energy from solar cells to the immediate neighborhood.
  • Much more complex scenarios with energy storage, flexibility such as heat pumps, hot water storage and other market objects are also conceivable.

Solution

For such application scenarios, new block chain solutions must be developed, because existing ones are not designed for the specifics of the German energy market.

The project focuses on a stringent hardware security concept in conjunction with the smart meter gateway. The use of cryptographic block chain technology in direct combination with hardware-secured IoT devices or smart meter gateways should prevent third parties from influencing the security concept.

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