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Energy industry rates blockchain

A study by the German Energy Agency (dena) has found that the use of blockchain in the energy system is already proving advantageous. For the technology to really take off, though, the general conditions first need to improve and investment needs to be encouraged.

16 Mar. 2019
Energy industry rates blockchain (Photo: Deutsche Energie-Agentur GmbH)

The study examined eleven specific use cases in various core sectors in the energy industry. One of the conclusions drawn was that blockchain can prove in particular advantageous when used to complement existing protocols for sharing digital information. In terms of economic advantages, the technology scores highly when used for certification of proofs of origin, registration of systems in the German core energy market data register (MaStR), and energy services for buildings and industrial processes, for example. There is, however, no ‘one-solution-fits-all’: Each application still requires a single-case analysis, says Andreas Kuhlmann from the dena. Stronger support for market-oriented testing in the energy sector is also helpful and necessary. Now is, though, a good time for energy companies to launch pilot projects.

The German government’s blockchain strategy is therefore eagerly anticipated. According to an article in German business newspaper ‘Handelsblatt’ , this strategy, which will aim to both regulate and promote the technology, is expected to be presented to the public by September.