$type=grid$count=5$m=0$sn=0$rm=0$show=home

ABB Launches Blockchain Pilot for Solar Energy Sector

Energy tech company ABB has launched a pilot project to investigate how blockchain can advance the solar energy market.

International electrical engineering company ABB has rolled out a blockchain pilot to explore how the technology could promote the role of solar energy in peer-to-peer (p2p) energy trading, technology-focused media outlet PV Tech reported on May 16.

To implement the project, ABB collaborated with Italian energy aggregator Evolvere to deploy a blockchain it jointly developed with blockchain-based platform Prosume. The pilot will purportedly enable transparent and secure p2p energy transactions, as well research blockchain’s role in the smart grids market.

ABB told PV Tech that the project’s objective is to make blockchain-ready inverters so energy market participants can reduce both capital and operational expenditure costs. Giampiero Frisio, head of ABB’s smart power business, said, “the Evolvere project has allowed us to develop viable and proven solutions for the market in anticipation of new dynamics and regulatory frameworks coming in to place for blockchain technology.”

ABB Group is involved in several “smart” and renewable energy projects, including smart gas and electric cars. ABB has operations in Europe, North and South America, Asia, Africa and Australia. In 2018, the firm had an operating revenue of over $28.5 billion.

Blockchain has been gaining traction in the energy sector around the world. Earlier this month, American blockchain startup Data Gumbo Corp. raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi Aramco. The investors purportedly expect Data Gumbo’s blockchain-as-a-service platform to improve oil and gas supply chains by eliminating disputes and enabling automated payments.

In April, Austria’s largest energy provider, Wien Energie, developed a blockchain-driven fridge in partnership with tech giant Bosch. The main goal behind the project is to increase consumer interest in the sustainable consumption of energy. A blockchain solution in this case allows one to choose the source of the energy, be that a solar panel or a wind power plant.

Original Article

COMMENTS

By Readers$type=blogging$cate=2$count=6

Name

Analysis,498,News,2987,Press Releases,338,Sponsored,137,
ltr
item
CryptoNomus: ABB Launches Blockchain Pilot for Solar Energy Sector
ABB Launches Blockchain Pilot for Solar Energy Sector
https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy80ODM0MmIzMzllNzYyZDFmOTEzNzE2NjNjZmViNzUzNC5qcGc=.jpg
CryptoNomus
https://www.cryptonom.us/2019/05/abb-launches-blockchain-pilot-for-solar.html
https://www.cryptonom.us/
https://www.cryptonom.us/
https://www.cryptonom.us/2019/05/abb-launches-blockchain-pilot-for-solar.html
true
4884201149675661183
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy