How blockchain can open up energy markets: EU DLT expert explains
Blockchain Energy Markets
Modified Date:- Published Date:-Categories: Cryptocurrency
In addition to the buzzing neoclassicism of Web3, there is a slightly less attractive but hardly less important concept of Industry 4.0, which includes new and revolutionary drivers of the next generation of industrial landscape. And, especially when it comes to the energy sector, blockchain is at the heart of these technologies.The authors of the recently published EUBlockchain Observatory report Blockchain Applications in the Energy Sector are convinced that distributed ledger technology (DLT) could become a major enabler technology and has a lot of potential to affect or even disrupt the energy sector. Capacity. This is no surprise given the five Ds of the digital green shift: deregulation, decarbonisation, decentralisation, digitization and democratisation. Considering a more direct market design, where flexible assets, regardless of their potential, can directly bid on the energy market, reduce their marginal cost and the participation of small-scale distributed energy resources (DERs) in energy markets will promote. The EDGE and Symphony projects are supported by state government agencies, the Australia Energy Market Operato and the Australian Renewable Energy Agency, and integrate consumer-owned DERs to enable their participation in the energy market of the future on a decentralized basis. To apply an innovative approach. the vision.In both projects, EnergyWeb's decentralized blockchain-based digital infrastructure is used by providing participants with digital identities thus facilitating secure and efficient exchange and verification of market participant data.
Decentralized Blockchain, Industrial landscape, Distributed ledger technology, Digital Green Shift, Energy Web's , Energy Sector, Australian Energy Market, Australian Renewable Energy, Symphony Proj