ICO & Crypto News #38 - 04 February 2018 [EDF Energy and Shell Joined Electron Energy Blockchain Consortium]
EDF Energy and Shell joined the Electron consortium, which is developing a blockchain based platform for energy trading. The project also includes Baringa, Flexitricity, Kiwi Power, Northern Powergrid, Open Energi, Statkraft and UK Power Networks with the support of National Grid and Siemens.
The group will jointly develop a commercialization model and an initial set of products for the commercial blockchain platform.
The global goal of the Electron project is to make the energy market more flexible. For this, energy trade should become more transparent, and infrastructure costs more efficient. These tasks will be jointly decided by the consortium of companies.
I think this is pretty fascinating and certainly one to watch. The consortium brings all the right kinds of players under one roof - aggregators, traders, OEMs, System/Network operators - which has to be the right approach.
It's also promising that Electron are working under Ofgem's Regulatory Sandbox because regulation is going to be one of the big barriers here.
Thanks for sharing this news.
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