Siemens joins blockchain alliance EWF

Siemens has joined blockchain alliance the Energy Web Foundation.

The German group’s Energy Management and Power Generation Services divisions have joined the non-profit EWF, which was set up to accelerate the commercial deployment of blockchain technology in the energy sector.

Siemens said that as part of the EWF, it “aims to proactively shape the future of blockchain-based, transactive energy applications, new prosumer-centric use cases as well as business models around operation of distributed energy systems, microgrids and financing”.

In a statement, Siemens said that “transactive energy applications will be a major force in the transformation of the energy sector towards decentralised, decarbonised and digitised energy systems, where distributed energy resources such as solar, wind, stationary storage systems, electric vehicles, heat pumps and others as well as flexible loads are playing an ever increasing role”.

“At the same time, new forms of plant and project financing are needed. Blockchain technology enables transactions in a decentralised network to be validated efficiently and securely. This enables new business models of energy and flexibility trading between consumers, prosumers, producers and network operators, taking into account user preferences and network restrictions. Ultimately, blockchain-based applications and business models could help increase the overall efficiency of future energy networks and enable new forms of asset and project financing.”

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Can blockchain save the energy sector?à‚ Interview with Hervé Touati, chief executive of Energy Web Foundation.

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