Energy suppliers and the blockchain
From plant control to electricity trading: Blockchain technology plays a central role in the digitization of the energy sector. It enables new business models and simplifies the exchange, validation and documentation of data among market participants.
Smart Meter, Micro Grids & Electricity trading
Renewable energies and decentralized energy storage allow you to not only consume electricity but also to generate and trade it yourself.
The electricity landscape is becoming decentralized
The tasks of grid operators and power exchanges will change fundamentally, because the Elrond blockchain can be used to automatically reconcile energy generation and consumption. In the long term, this will lead to a self-organizing electricity landscape consisting of decentralized plants.
The Elrond blockchain can be used to reduce temporary fluctuations in the power grid. For example, decentralized battery storage and small private plants can absorb or release surplus electricity within seconds and reduce transport bottlenecks.
Charging infrastructure in e-mobility
The uneven distribution of charging infrastructure, immature standards, and the large number of operators means that current charging and billing methods are reaching their limits.
Loading at the neighbor’s?
With the help of the Elrond blockchain, charging processes in public spaces can be automatically billed and congestion management optimized. The result: greater convenience for customers, lower costs for providers.
In addition, drivers can make their private charging stations available to other users. Payment and billing are fully automated via blockchain-based smart contracts.
The Elrond blockchain in the energy sector
The potential applications of the Elrond blockchain for energy providers are as diverse as they are visionary. Rely on the technology of tomorrow and shape the future of the energy market.
Blockchain & P2P power trading
To increase energy efficiency, the aim is to use locally generated electricity. Thus, property owners with photovoltaic systems can also supply neighbors and surrounding consumers with electricity.
The choice of the desired electricity mix is made via smart contracts and billing is automated via the Elrond blockchain.
Smart contracts enable decentralized investment opportunities: With the tokenization of share certificates of an EEG plant, for example, investors receive entitlement to the electricity generated. Payment for the electricity supply can be automated.
Charging & Change of supplier
With the help of blockchain technology and smart contracts, supplier switching and data validation are significantly simplified.
Consumption data is written to the blockchain via a smart metering system, and billing is automated.
Blockchain & Infrastructure
Networking in smart cities is on the rise. The blockchain is the technical basis for a fast and secure exchange of huge amounts of data.
In combination with Big Data and AI, forecasts are becoming more accurate, for example, about urban energy consumption, the efficiency of PV systems, or the costs of grid expansion and infrastructure.
Blockchain & Asset Management
The Elrond blockchain provides operators, regulators, investors, and insurers with accurate information about the condition and ownership of their assets.
This allows maintenance measures to be derived and maintenance processes to be automated. The work of auditors is significantly reduced as the required information is communicated using sensors.
Certificates for electricity production can be documented and traded in the Elrond blockchain.
This makes it possible to develop electricity products that can be assigned to a source without any doubt. For example, a rooftop PV system could write its own generation output to the Elrond blockchain in a tamper-proof manner.
Blockchain & Market Master Data Register
In Germany, power-generating plants as well as consumers must be registered in the market master data register.
Blockchain technology simplifies the registration process and ensures transparent provision of data.
The verification tasks of the network operator are eliminated, as the integration of intelligent metering systems (smart meter gateway) makes the authentication of plants electronically verifiable.
More about the Elrond blockchain
The Elrond blockchain will revolutionize the energy sector. We show you why!
Elrond is a high-performance blockchain technology based on the proof-of-stake consensus mechanism. It was developed to eliminate vulnerabilities of other blockchains. Actually, we claim that Elrond is the best blockchain technology in the world.
Would you like to learn more about the potential of the Elrond blockchain for your company? Our experts will be happy to advise you. Free of charge and without obligation.
Advantages of the Elrond blockchain
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