According to the latest announcement, Siemens, a German tech giant, has introduced a Blockchain-based energy trading platform. The project named ‘Pebbles’ that stands for peer-to-peer energy trading based on Blockchains has experienced a virtual demo of its blockchain-based platform for optimized electricity trading.
The Blockchain-based energy trading platform was initially launched in 2018, and soon after that, its demonstration was carried in the town of Wildpoldsried.
Headquartered in Munich, Siemens is a German-based multinational conglomerate that is also known to be the largest industrial manufacturing company in Europe.
Pebble, a Blockchain-based energy trading platform, is a joint initiative by the regional utility Allgäuer Überlandwerk, grid operator AllgäuNetz, and German tech giant Siemens. Moreover, the project is also supported by the University of Applied Sciences at Kempten and the Fraunhofer Institute for Applied Information Technology.
Pebbles Looks to Blockchain to Optimize Electricity Trading
Pebbles can be utilized for numerous purposes in the domain of energy supply, such as generation, consumption, flexibility, and certification. Pebbles aims to develop a digital platform for regional energy trading and demonstrate local electricity markets business potential.
The report suggests that Pebbles aspires to use Blockchain infrastructure to enable private energy producers to sell their electricity to local consumers without involving any traditional operators.
Moreover, it is also seeking to provide flexible power from battery storage for electric vehicles.
By making use of Blockchain technology, Pebbles ensures that all information related to the market transaction is immutable and transparent. Blockchain also ensures a high grade of process automation and data security.
The project expects to develop an integrative model in order to enable collaboration between various providers and operators.
Other Blockchain-Based Energy Projects
When it comes to Blockchain-based energy projects, Germany has several research projects in this direction. Along with Pebbles, there are other Blockchain-based related projects, including BloGPV, SMECS, and ETIBLOGG.
In February 2020, the German Federal Ministry of Economics and Technology (BMWi) published an analysis of major Blockchain implementations and highlighted the technical advantages of Blockchain over other approaches. It was stated that,
“Technology represents a central, technical component to secure trading on local energy markets or the exchange of electricity within local communities.”
Recently, in October 2020, it was announced that Deutsche Energie-Agentur, known as DENA, is looking to shift its energy ecosystem to a decentralized database.