FREE WHITE PAPER: BLOCKCHAIN FOR UTILITIES
DATA INTEGRITY MATTERS
The use cases for blockchain range from microgrids and solar systems to e-mobility and EV-charging. In fact, according to EY, over 100 blockchain use cases have been identified in the energy industry.
“The impact of digital on traditional utilities has parallels with the impact of the internet on high street retailers in the early 2000’s. There will be those organizations who view it through the lens of their existing business processes and transactions, and there will be those who see the potential of a different way of doing business.”
— Richard Postance, UK&I Customer Strategy Partner, Ernst & Young
- Peer-to-Peer Energy Trading: Blockchain can enable prosumers to buy and sell energy directly—manually or via automation—with a high degree of autonomy.
- Secure Authentication of Billing and Payment for Energy Purchases: Blockchain can allow users to save money through the use of micro-transactions and simultaneously allow utilities to deploy electricity more efficiently.
- Securely Storing and Verifying Customer Usage Data: As electricity grids become more sophisticated, grid administrators can collect instantaneous data on consumer and supplier behavior. Blockchain offers a way for utilities and others to securely obtain and share consumer data without compromising the personal information that consumers don’t want others to improperly access.
- Storing and Validating Data for Green Certification: Today independent auditors assess renewable-energy producers and certify their electricity as “green.” Blockchain could be used to keep track of renewable energy certificates.