Elia, SettleMint and Actility launch one of Europe's first blockchain pilot projects in the energy sector
Elia is launching a pilot project to analyse possible applications of blockchain technology in the energy sector.
The increase in renewable energy generation is making it increasingly difficult for transmission system operators (TSOs) to guarantee that generation and consumption are balanced at all times. Power generation from renewables fluctuates constantly, so flexible reserves that can be activated swiftly (like batteries, demand management via heat pumps, etc.) are needed to ensure a steady balance. Elia is exploring the opportunities offered by blockchain technology as a payment system to address the business side of such complex, rapid transactions. The pilot project, conducted together with SettleMint and Actility, will last three months.
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