BlockCypher, leading provider of Blockchain Web Services and infrastructure, announced on Tuesday it partnered with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to demonstrate how energy transactions can be settled across multiple blockchains and integrated technologies.
It is said that energy transactions involving distributed energy resources (DER) will be settled across multiple blockchains, starting with the Dash blockchain.
Blockchain technology presents a transformative and highly scalable platform for enabling distributed energy markets, which could enable DER to interact more effectively with the larger grid. NREL and BlockCypher will show how peer to peer payments can be facilitated and settled on the Dash network between two test homes in NREL’s Energy Systems Integration Facility (ESIF). The project will ideally then be scaled to include utility interaction and multiple homes on a feeder.
Senior Engineer and Principal Investigator for the project at NREL.
According to the announcement, it is the first time the U.S. Department of Energy is exploring such progressive technology to facilitate peer to peer energy transactions.