- Aug 13, 2019 4:01 pm GMT
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Executive Director at APPrO, Association of Power Producers of Ontario
The Energy Web, a comprehensive online energy services platform described as “The Grid’s New Digital DNA” went live on June 19. To listen to its advocates, 2019 will be remembered as the year when the energy market changed forever, when transactions finally became virtually free and frictionless for everyone. The Energy Web Chain (EWC) is not merely a trading platform. It’s described as “a foundational blockchain specific to the energy sector on which any number of applications can run for various use cases.” Examples include energy trading, renewable energy certificates, electric vehicle charging, settlement for grid flexibility services, transactive Peer-to-Peer exchanges with distributed energy resources, and more.
Some observers believe this could be a major step towards a new era of advanced digitized global energy business operations. One of the co-founders describes it as “an energy exchange engine to enable a transactive grid.” It may be comparable to establishing a universal base language for the operation of grid connected technology. The platform is already attracting wide interest from the energy sector and beyond.