Blockchain Powered Energy Marketplace Backed By Siemens Showcased in Germany
Siemens demonstrated a blockchain technology powered energy trading platform in Bavarian municipality as part of ventures called “Pebbles”, which stands for “peer-to-peer energy trading based on blockchains.” A virtual demo of the blockchain powered marketplace developed for optimal power trading was demonstrated.
The public proof of energy platform, developed under Pebbles project, carried out in Wildpoldsried town in Bavarian signals an important landmark after the venture was rolled out in March 2018.
Pebbles project, financed by German Federal Ministry for Economic Affairs and Energy, is a joint program by the provincial utility company Allgäuer Überlandwerk, Siemens and grid operator AllgäuNetz.
The initiative intends to offer a platform to pave way for private energy producers to commercialize their power by dealing straightaway with domestic clients without a requirement for intermediates or conventional grid operators.
The platform also aims to offer amenable power from batteries used in electric vehicles. Blockchain adoption has been done to guarantee that all data pertaining to market dealings is unalterable and open.
Pebbles is not the first blockchain powered energy venture established in Germany. In February 2020, BMW released an analysis report on top blockchain adoptions in energy trading, underlining four associated ventures namely BloGPV, SMECS, ETIBLOGG, and also Pebbles.
Earlier this month, Germany’s top governmental group tasked for energy innovation in Germany, Deutsche Energie-Agentur, or DENA, asserted that the authority is studying the possibility of shifting its energy ecosystem to a decentralized ledger.