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Did you know? Blockchain, a technology that is also promising in the energy sector

If the blockchain technology initially applied to the banking disintermediation, the deletion of intermediaries between two actors also fits the energy sector. The Brooklyn microgrid is on the most famous examples: it enables households to interact together without going through a third party. Some households generate energy with their solar panels and others buy this electricity to consume it. There are no more intermediaries: all transactions are occurring through the blockchain. This technology is likely to expand to the electricity value chain. In particular, the blockchain might be useful not only to transfer energy, capacity or guarantees of origins assets, but also to keep transparent and unchanging records or automatically conclude contracts between households. However, notwithstanding the difficulty for the blockchain to deal with data at a very high frequency, its implementation will have to take into account the evolution of structural rules of the electricity system, in particular with regard to balancing responsibility. Moreover, data are not erasable in the blockchain, which can be in contradiction with the right to be forgotten.

Source: OIE Fiche about Blockchain and energy – June 2017.

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