Around the globe blockchain is touted as a game changer for many sectors, particularly electricity.
Blockchain - a public ledger of records, linked and secured using cryptography - is one of many technologies which may disrupt the energy sector. There is much potential in blockchain technology, but also complexity in trying to understand what opportunities it really offers, and how these can be applied to the sector.
On Thursday 16 November 2017, ERANZ, Genesis Energy, Callaghan Innovation and Advisian held a seminar exploring blockchain's future in the energy sector.
Fraser Clark, Associate Advisian
In this video Fraser Clark from Advisian looks into the future of blockchain and energy to answer the following questions:
- How significant will blockchain be for the electricity sector?
- What are the challenges for blockchain adoption in the sector?
The challenge for blockchain is to demonstrate that it is something more than the systems that we have today
…Can we use blockchain to get more value, to get more efficiency, create new services and products?
Paul Ruediger - Genesis Energy
Paul Ruediger, Finance and Commercial Manager – Generation and Wholesale at Genesis Energy, spoke at the seminar about blockchain's emerging trends, potential applications and how energy companies might navigate a future that has many blockchain offerings.
Watch the video above to hear Paul's thoughts on the following topics:
- What are the principles that underpin blockchain?
- How might blockchain affect the electricity sector?
- What blockchain platforms are we seeing in Spain and the USA?
- How will blockchain in the financial sector affect energy?
What I believe you will start to see is more platforms starting in wholesale, retail and behind the meter. These platforms are already happening right now globally…
Presentations from the seminar
- The Truth About blockchain - Marco Lansiti and Karim R. Lakhani
- Some integration challenges to contemplate before we commit to a blockchain electricity trading future - Fraser Clark
- Microgrids blockchain and peer to peer (PDF) - Ron Beatty Principal Advisor, Electricity Authority
- Energy Web Foundation
Updated: 15 December 2017