LF Energy Summit Recap: Energy Traceability with Open Source Blockchain: A Game-Changer for a Sustainable Future With Choh Yun Bin of GoNetZero
In his LF Energy Summit 2023 session, Choh Yun Bin from GoNetZero presented a comprehensive solution that could revolutionize the energy industry. By harnessing the power of open source blockchain technology, the GoNetZero team aims to achieve energy traceability, 24/7 matching, optimize battery energy storage systems, and track green hydrogen usage. Let’s dive into the key points of this presentation.
GoNetZero’s Vision for a Sustainable Energy Future
GoNetZero, a venture launched by global energy player Sembcorp Industries, has set forth a visionary goal of becoming a one-stop carbon management platform. Their ambition is to provide innovative solutions to clients while promoting sustainable practices and reducing carbon footprints.
Leveraging Open Source Blockchain Technology
To accomplish their mission, GoNetZero is utilizing an open source blockchain by the Linux Foundation, specifically Hyperledger Besu. By backing this with Ethereum, they can tokenize vast amounts of energy data from their renewable energy assets, totaling 18.5 gigawatts globally.
Proof of Renewable Energy Generation
One key aspect of their technological stack is proof of renewable energy generation. GoNetZero has successfully implemented a 30-minute tokenization process for solar energy generation. Through blockchain technology, customers can see their energy being credited to them in real-time, assuring them of the renewable nature of the energy they receive.
Battery Energy Storage Systems for 24/7 Carbon-Free Energy
To achieve the ambitious goal of 24/7 carbon-free energy, GoNetZero is developing battery energy storage systems. With over 700 megawatt-hours of capacity in the UK and Southeast Asia, they plan to optimize battery usage through their blockchain-based algorithm. This allows customers to match their energy consumption with renewable energy sources, significantly reducing their carbon footprint.
Green Hydrogen Tracking and Supply Chain Monitoring
In addition to their renewable energy initiatives, GoNetZero is venturing into the green hydrogen business. They aim to prove the usage of green energy for electrolyzers and track the greenhouse gas emissions during the hydrogen supply chain. Blockchain technology enables transparent and real-time monitoring of these crucial processes.
By leveraging open-source blockchain technology, it is possible to pave the way for energy traceability, battery energy storage optimization, and green hydrogen tracking. These innovations hold the potential to transform the energy industry and drive us closer to a carbon-neutral world.