US Department of energy develops the concept of P2P energy on the basis of the blockchain

Startup BlockCypher has started cooperation with the laboratory of the U.S. Department of energy to develop solutions to perform a transaction for the sale and purchase of electricity to multiple blockchains.

National renewable energy laboratory (NREL) and BlockCypher first is planning to demonstrate the Commission of a P2P transaction using distributed energy resources (DER) in the cryptocurrency Dash between the two test centers NREL, said Dylan Cutler (Dylan Cutler), senior project engineer at the lab. He said

«The technology of the blockchain is a transformative and scalable platform for distributed energy markets. It will allow DER to effectively interact with the larger grid. This would facilitate the more effective satisfaction of demand for electricity, reserves of productive capacity and maintaining a high quality of electricity.»

According to Karen Hsu (Karen Hsu) of BlockCypher, thanks to the project people will be able to exchange renewable energy through P2P transaction.

«It would be extremely useful in the event of a disaster or when the grid is not operated for a long period of time, as it was in the US last year,» she said.

This solution will also help to optimize energy consumption by aligning its production with demand and reduce power shortages at the time of peak electricity consumption, said Hsu.

Smart meters with the possibility of exchange of cryptocurrency for electricity can also make the network «more efficient and stable, allowing you to monetize the stored energy and the energy production end points of the network,» said Dash Core Ryan Taylor (Ryan Taylor).

Worldwide electricity providers are beginning to implement projects on the basis of the blockchain, for example, in Australia, Japan
and Europe. In addition, the research laboratory of the U.S. Department of energy in October last year announced that it is exploring use of block chain to manage new generation networks. In January 2017 the Agency has begun to openly solicit for the study of the blockchain to identify «new concepts for energy systems technology».

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