Blockchain at Work in the Energy Sector
Blockchain technology is enabling innovation in multiple industries, including the energy sector.
Blockchain Technology Partners, BTP, joined LF Energy to accelerate collaboration on deploying and managing blockchain infrastructure in the enterprise energy space.
BTP’s focus is on providing a strong, stable platform on which companies can then innovate and develop multiparty middleware applications and services, says Duncan Johnston-Watt, BTP CEO and Co-Founder.
In energy, blockchain technologies can provide provenance, meaning the ability to track the life cycle of assets. That might be, for example, tracking solar panels used in a solar panel installation, where they came from, who transported them, installed them, etc. This could be useful to address performance issues or repairs. Another use case would be to track renewable energy sources to ensure that the energy supplied is truly 100% renewable.
Energy will benefit from blockchain technology, in particular, because it has a broad and diverse set of market participants, “and this creates a lot of friction on several fronts,” adds BTP Vice President of Strategy, Csilla Zsigri. Blockchain and associated technologies can help alleviate these fractions.
In addition to being members of LF Energy, BTP is also a member of the Hyperledger Foundation, the CNCF and the Open Source Security Foundation.
To see a video interview and learn more, click here.