Tuesday, October 27, 2020

Germany looks to blockchain to help decentralize their energy economy

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The Deutsche Energie-Agentur, also known as DENA — the main governmental group responsible for energy innovation in Germany — looks to put its energy ecosystem on a decentralized database.

DENA “has selected Energy Web to design and construct a digital registry for distributed energy resources (DERs) across the country in partnership with more than 20 industry players,” an Oct. 13 blog post from Energy Web detailed, adding:

“The project will enable energy assets in Germany, such as thermostats, solar PV systems, batteries, and electric vehicle charging stations to undertake automatic registration with a decentralized ledger of identities, allowing their utilisation by the German grid for a range of services such as virtual power plants and frequency regulation.”

Germany’s energy innovation wing, combined with Energy Web and numerous blockchain and crypto companies, essentially want to digitize the country’s energy system by storing necessary components on a decentralized database.

One of DENA’s brass, Philipp Richard, explained in the post that the endeavor faces remaining hurdles in terms of setting the project fully into motion, although blockchain-based digital identities (which are currently undergoing testing) look favorable.

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