:agile started in May 2013 and completes E.ON’s activities with regard to innovation while nurturing new business ideas. The aim is to generate innovation within E.ON, stimulate the ideas and expertise of colleagues, and support the launch of their business models.
The Challenge: How can Blockchain Revolutionize the Energy World?
In a world of distributed energy production, blockchain could be the technology to play a key role in increasing the efficiency of the transactions. Why? First, it could be used to manage the increasing amount of transactions to be dealt with. Second, it could be used to reduce the complexity and increase the security of the delivery and transaction process. Lastly, it could increase the efficiency of the grid and the grid integrity by matching local demand and supply. With an increasing number of devices communicating with each other and more devices being capable of producing and consuming energy (eg. electrical cars) blockchain could be the technology to support micro payments making it easier for these devices to optimize and monetize their use.
Key questions to be addressed:
- What would be the impact of blockchain on the way the current energy infrastructure is managed?
- Which roles have to be defined when operating energy infrastructure with blockchain?
- Which regulatory hurdles need to be addressed and how do incentives need to be set to get the optimum value out of the application of blockchain in an energy network.