BDEW publishes Blockchain study

The Federal Association of Energy and Water Industries (BDEW) has published a study on Blockchain and its applications in the energy world. In addition to the great opportunities offered by the new technology, it also highlights the role of Germany as a location for the further development of blockchain applications.

The Federal Association of Energy and Water Industries is an association of German companies and associations, which takes care of the interests of the German energy sector and the water supply and represents their interest on the political level. Already at the end of last month, the BDEW published a study describing the many opportunities that arise from the blockchain for the energy world. This study aims to provide an in-depth assessment of the potentials of blockchain for utilities and to highlight examples of successful blockchain implementations.

Key findings of the study are that blockchain can make data exchange in a decentralized energy system significantly easier. This becomes relevant as the decentralization of the energy network is an important aspect of the energy transition. In addition, Blockchain opens up new opportunities for companies to optimize their energy trading, charging infrastructure or payment processes by ensuring the secure and transparent exchange of information.

"The energy system is becoming increasingly decentralized, complex and networked. It is therefore right to explore all options that can facilitate data exchange between generating plants, grids and storage. Blockchain technology opens up a wide field for innovation and new business models. And right on our doorstep: Germany is one of the hotspots for blockchain applications in the energy industry. This is where the music plays - that is especially true for Berlin as a location. Anyone who engages in the development of technology at this early stage can secure new roles and segments, "

Stefan Kapferer, Chairman of the BDEW Management Board.

However, the study also suggests that there is still a long way to go before we can speak of a full implementation of blockchain in the German energy industry. Until then, a clarification of various technical and legal framework conditions is needed. A more detailed analysis of the application of blockchain in the energy sector can be found here.

The news was taken by BTC-ECHO