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The "Distributed energy: impact of blockchain on energy trading"The report highlights the impact of prosumerism and distributed resources on the energy transaction landscape.
Recent trends in the energy sector, such as the increase in prosumerism and the increase in the distribution of smart meters, have led to better data analysis, archiving and communication solutions for the energy industry.
According to a new report by Frost & Sullivan, these factors have allowed conventional end users to take part in energy transactions in the form of supporting the network during peak hours and helping to maintain stability.
This highly distributed energy scenario has its challenges in the form of monitoring and control of every energy transaction performed. These challenges require better solutions to track the energy exported to the network and also to help participating organizations to reach consensus on the amount of energy exported.
Blockchain is a distributed digital data register that allows you to store digital transactions securely and transparently. Because each transaction is visible and each transaction or block is linked to the previous transaction or block, the chain provides clear information about the transactions, including the times in which they occurred. Each block is inserted only if a certain set of conditions defined by the user is met.
The adoption of the blockchain in the energy sector has the potential to allow the end user better visibility on the transaction and help them understand the revenue generation model. This should encourage the participation of more prosumers, allowing a highly distributed energy scenario in a more controlled and secure way.
Watch the video below for more details on the adoption of the blockchain in the energy sector.
