IBM and 3 European energy distribution network managers have jointly created a consortium in order to take advantage of the blockchain to better balance the networks and ensure security of supply for the energy transition.
The American multinational IBM, the operator of the public electricity transmission network in the Netherlands TenneT, the national company responsible for the electricity transmission network in Switzerland Swissgrid and the Italian electricity transmission company Terna are currently working on setting up a platform using the blockchain technology and aimed at decentralize the way energy is consumed, reports Coindesk.
The energy system is changing. The modern electricity supply now runs on renewable energy for long periods, making the system increasingly volatile. We need new sources of flexibility to balance the network. As supply becomes more difficult to control, transmission system operators turn to demand to gain flexibility. But small-scale flexibility resources are more difficult to manage in the electrical system. That's where Equigy comes in, ”said the consortium on its website.
Baptized Equigy, the platform thus exploits the blockchain Hyperledger Fabric as a "trusted backbone" for sharing data between consumers, aggregators and transmission system operators.
Read also : EDF to launch cloud and BaaS blockchain offer
The flexible energy market is generally one where big companies play, whether it be with power plants or large industrial facilities, people like you and I cannot participate with our own assets. But we saw blockchain as a way to make the system reliable and democratized, so that household appliances can participate and trust the TSO, "commented Leo Dijkstra of the energy, environment and utilities subsidiary of IBM.
Big Blue is without doubt one of the most active established companies in the field of blockchain.
The American firm already brings together many players with several projects based on this technology, in particular with its consortium IBM Food Trust dedicated to food traceability or its blockchain Tradelens for maritime transport.
Read also : IBM wants to pacify subcontracting work thanks to blockchain
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
