Nowadays, technology is the central axis of almost all the activities that the human being performs, whether for good or for bad. One of the most recent innovations introduced was blockchain, also known as distributed ledger technology.

This innovative tool created by Satoshi Nakamoto in 2009 has been leaving behind the traditional ways of executing certain activities and has captured the attention of developers, investors, researchers, entrepreneurs and professionals from all walks of life. So much so that in the UN Convention on Climate Change last June, they saw the blockchain as a potential element for the energy sector.

In this sense, numerous initiatives have been developed around the generation, distribution and commercialization of electricity using distributed accounting, and, at the same time, considering alternative sources of energy.

ENERGY PROJECTS WITH BLOCKCHAIN

Since its inception, electricity has been the responsibility of energy companies and government authorities. Conventionally, the energy consumed is measured through light meters, and based on that, the monthly quota that a house, a college, a company or other establishment must pay to the company that offers such service is determined.

Generally, energy is obtained from non-renewable sources such as fossils, the latter by the combustion of elements such as coal and oil, which brings serious consequences to the environment due to the emission of greenhouse gases. Hydroelectric plants are also very common, and although they use the potential energy of water, many environmentalists affirm on a verifiable basis that the construction of dams significantly alter the equilibrium in the river ecosystems that burst. Due to the damage they can cause to the environment, alternative sources such as wind energy and solar energy have been adopted.

Well, through a blockchain platform it is possible to create a decentralized energy system, where producers and consumers of electric power can organize themselves to participate actively in the generation, distribution and commercialization of the same, thus changing the pattern that until now has been established By energy companies.

Such is the case of the project carried out by the company LO3 Energy, with support of Siemens, for a small community of Brooklyn, called Brooklyn Microgrid. Basically, it is a community microred parallel to the main network of the electricity service, which feeds on solar energy captured with photovoltaic panels, where the participants of the network that goes from person to person will be able to market the surplus energy with those neighbors who Do not count on such panels. To that end, they will introduce the use of batteries for the storage of energy, while the blockchain will be the one that allows that commercialization without the help of intermediaries.

SUPPORT OF ENERGY GIANTS

At the global level, a foundation called Energy Web Foundation has been created, which until now is made up of important international companies such as SP Group, Centrica, Elia, Engie, Sempra Energy, TWL (Technical Works Ludwigshafen AG), Royal Dutch, Shell, Statoil ASA , Stedin and Tokyo Electric Power Co (TEPCO). They form a conglomerate that intends to implement the technology blockchain in the energy field, since they have contemplated the importance of the same in the provision of basic services like gas and electricity, so that they expressed that through blockchain the transaction of Energy between batteries, photovoltaic panels, suppliers and consumers, is possible.

Specifically, in Europe, the energy sector has been quite interested in blockchain technology. No more than 24 companies in this sector, some of them present in several or even most countries, will implement a tool called EnerChain, created with a decentralized energy exchange market in mind.

Similarly, companies such as Siemens AG in Spain, which are committed to sustainable development, have paid special attention to the potential of distributed accounting technology for this purpose. For this reason, this company has been organizing an annual competition to fund and support innovative proposals, such as Megavatio Control, which was the winner of the contest; Called Next 47. For this year they announced that from July 17 to October 15 they will be receiving the proposals.

Without leaving Spain, we have another energy giant that bets on the implementation of distributed accounting in this sector: Endesa. The most important Spanish energy company created its own blockchain laboratory to receive innovative, sustainable and truly transformative proposals; Endesa Blockchain Labs.

Another important energy company that wants to apply blockchain in its activities is AGL Energy Limited, the largest of its kind in Australia, and privately held. It has implemented a pilot plan of energy exchange between houses, using innovative tools such as photovoltaic panels and storage batteries. It is also a project supported by IBM Australia.

A FUTURE WITH BLOCKCHAIN

For all of the above, we can affirm that blockchain technology allows to introduce important changes in any stage linked to the electric power, either in its generation, distribution and / or commercialization, changes that translate into greater efficiency and sustainability; This last one because the energy sources that are being considered in this type of initiatives are friendly with the environment. So this technology could completely transform global electricity service as we know it to be the perfect way to implement transparent and reliable decentralized energy systems.

In addition, it can be pointed out that this technology can not only transform the energy sector, but also any other area that adopts it, as it has happened in the financial world, for which it was originally created. Its importance is such that today important international companies like IBM are in search of qualified personnel to develop applications making use of the invention of Nakamoto.