The U.S. Department of energy sees potential in the electric system on the basis of the blockchain

The U.S. Department of energy sees potential in the electric system on the basis of the blockchain

PoE P2P can provide the distribution of unused energy among consumers, to create its reserves in case of active use or reserve for use in case of natural disasters.

Dylan Cutler, senior engineer and principal investigator of the National laboratory of renewable energy of the U.S. Department of energy, explained how this can be done using the blockchain.

Governments see blockchain technology as a means to ensure more efficient, transparent and technically robust infrastructure. The latest enterprise of the National laboratory of renewable energy (NREL) of the US Department of energy announced on 23 January 2018, was cooperation with the blockchain BlockCypher provider to create a peer network to trade electricity with the possibility of cross-blockchain transactions.

During the first tests of the system will be assessed, as the blockchain Dash conducts transactions with distributed energy resources. Dylan Cutler — senior engineer and principal investigator on blockchain project NREL. He believes that the desire NREL to create a “more economical, environmentally friendly and efficient electricity grid” has led to cooperation between governmental bodies, regulators and providers of public services:

“Blockchain technology is a transformative and highly scalable platform for distributed electricity markets that will facilitate more dynamic interaction of distributed energy resources with a large network. Among these interactions, the more effective satisfaction of demand, reserve capacity, power quality and support.”

Karen Hsu, Director of development BlockCypher, described how this initiative can provide a solution to the problems in the event of a crisis, to help scale energy infrastructure to meet growing demand and reduce power fluctuation:

“The technology developed in this project will provide people with renewable energy on an equal footing. This will be of significant value in the event of natural disaster or prolonged network interruptions, as happened last year in the United States. This technology is also important because the volume of energy increasing, and more and more people use electric cars or devices on batteries. An equal exchange of power will improve compliance with the energy production and demand, thereby reducing the voltage drop or the voltage drop in the network during times of maximum electricity use”.

More extensive NREL desire is interoperability, so despite the original use of the Dash, preference is given to the approach with independent bloccano. A helping hand from BlockCypher in the form of use of their API contributes to the implementation of the objectives of NREL, providing the infrastructure to use different crypto-currencies on the platform.

Cutler said in the message ETHNews that the fast mechanisms with low transaction cost to transmit price signals in terms of energy assets are underutilized resources.

He also said that the pilot project will show the “reaction of the hardware and conduct transactions on the blockchain … on the basis of a consistent time contract between the buyer and seller of electricity.”

“This project aims to prove technical feasibility, which will provide the basis for subsequent research and development in the energy sector and the blockchain, including a scale to assess the impact on the supply line distribution network, evaluation of the structure of the market … and the impact of these structures on the management/power quality/reliability/fault tolerance, etc.”

This is not the first involvement of the U.S. Department of energy, integration of platforms on the block chain for the energy industry. In January 2017 the US Department of energy launched the initiative on the use of blockchain technology in the energy sector. Then in September, the Ministry entered into a financial partnership with various organizations, implementing the blockchain, in an attempt to strengthen the protection of power grids.

The development of an equitable system is similar to companies from industry giants Royal Dutch Shell, Tokyo Electric Power Company and British Petroleum.

NREL initiative represents the latest step in the efforts of the Ministry of energy test applications of block chain technologies and their evaluation. In the case of achieving tangible results of the program this will represent another big step towards the future of electricity in the United States.

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