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Blockchain for Electric Utilities: A special report presented by Global Smart Energy Federation (GSEF) and Powerledger
The Global Smart Energy Federation (GSEF) and Powerledger have released a special report exploring the blockchain applications for electric utilities.
The introduction of renewables onto the grid has led to problems such as intermittency, inertia deficits, and grid congestion. A distributed architecture of the grid is seen as a solution, and blockchain technology can help to create this. Blockchain can help to create a more sustainable and efficient energy ecosystem by providing trust and transparency.
This report discusses blockchain applications for electric utilities.
"The potential of blockchain technology in the energy sector is immense," said Professor Sinclair Davidson, from RMIT University, report contributor and blockchain expert. "By combining the power of distributed technology with a blockchain accounting system, we can unlock a more sustainable and efficient energy ecosystem. This report aims to provide a comprehensive understanding of blockchain's role in creating trust within the energy and grid landscape."
As the energy sector transitions towards a greener future, blockchain emerges as a transformative force, empowering individuals and organisations to collaborate effectively, share information seamlessly, and support one another. By fostering trust, blockchain technology lays the foundation for a resilient and sustainable energy infrastructure.
Global Smart Energy Federation (GSEF) is a global stakeholder organisation of national smart grid associations, forward-looking utilities, and think tanks from around the globe working in the domains of energy transition and clean transportation. By linking the major public-private stakeholder initiatives of participating countries, think tanks and progressive utilities, the federation shares practices, identifies barriers and solutions, fosters innovation, and addresses key technology standards and policy issues. The activities of GSEF help member organisations and their member utilities in their energy transition and grid modernisation initiatives that enhance access to affordable clean energy and increase the security, flexibility and resiliency of the power systems while reducing emissions.
Watch the insightful webinar on "Blockchain Applications for Electric Utilities" below.