[ad_1]
Iberdola, one of the leading Spanish energy companies, has started to monitor renewable energy using blockchain technology.
In collaboration with a local bank called Kutxabank in the autonomous Basque community – which holds a considerable share of Iberdrola's share capital – the first trial was conducted and it was concluded that it was very successful.
An important part of the process was the monitoring and monitoring of renewable energy supply from three points including two wind farms and a power plant for the banking offices in the Basque Country and the city of Cordoba in the south.
In this experimentation an open source and scalable blockchain platform was used, specifically designed to help the regulatory, operational and market needs of the energy sector. This platform, called the Energy Web Foundation, has helped Iberdola create an order for energy producers and has also simplified the process of distributing energy through automation.
How it helps
Because of the success of this test, Iberdola is certain that the use of blockchain will certainly improve and simplify the process of issuing a certificate of guarantee of origin. A certificate of guarantee of origin is evidence of a consumer or an interested party that the energy was produced or generated from a specific source. It is mandatory in all countries within the European Union (EU).
Effects in the industry
Widespread use of blockchain technology it will also reorganize the processes and the framework in such a way that transparency has increased significantly and operations are more cost-efficient because the intermediaries will be eliminated.
ACCIONA Energia, another important company in the Spanish renewable energy sector, has already announced that it will also use blockchain technology to monitor the production of electricity. ACCIONA Energia generates energy without emissions for at least 6 million homes.
In other countries, blockchain is already actively used in the various energy sectors. Siemens, for example, which is a German conglomerate with interests in the health, infrastructure and even energy sectors, has also established a partnership with the Energy Web Foundation in an attempt to encourage the general use of decentralized solutions, including blockchain technology, in the sector.
In the United States, about $ 5 million has been allocated and funded to fund university research in many different technology solutions, including blockchain.
[ad_2]Source link
