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The blockchain consortium of oil and gas operators has been renamed as the Blockchain for Energy consortium.
The former Blockchain Consortium of the Offshore Operators Committee (OOC) made up of international players from the oil and gas industry has confusingly launched for our industry, “a new name and brand to be better positioned to meet the needs of its members” .
This updated branding represents the association’s core values both in the present and how its leaders have envisioned these values in the future, according to a statement.
“Our ambitions and those of our members have not changed. If anything, they have increased and are further amplified with this effort, ”says Consortium President Rebecca Hofmann, who works for Equinor’s Operations Technology Excellence group and was the founder of the OCC Blockchain Consortium.
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While the utilities and oil and gas sectors are completely different, blockchain use cases such as asset management and resource monitoring are similar. Furthermore, synergies are growing as companies like Shell and others make their way into the power generation industry.
Therefore awareness of each other’s activities and sharing of information could benefit both sectors.
Blockchain for Energy is currently developing three main use cases for blockchains on freight billing, joint venture management processes, and life cycle monitoring of seismic data.
Consortia of the energy sector
There are two main consortia in our energy sector along with smaller project consortia formed by individual companies as they advance their bids.
The oldest and largest is Energy Web, which was formed in 2017 by the Austrian blockchain startup Grid Singularity and the Rocky Mountain Institute with an initial holding of 10 utilities. The organization has since grown to more than one hundred affiliates made up of both developers and users as it develops a range of industry-specific solutions built on the open source Energy Web Chain.
The three main areas of interest are the renewable energy markets, the flexibility of demand and the management of electric vehicles.
The second is the mainly US-oriented Energy Blockchain Consortium founded by Tony Giroti, former CEO of Accenture Bridge Energy Group’s acquired advisor, in 2018.
The consortium has many of the “biggest names” in smart energy in the United States and to date has focused primarily on information. A grant of $ 250,000 was recently obtained for the implementation of a project for which participants are sought.
