Blockchain – an opportunity for energy prosumers
Blockchain technology strengthens the market role of individual consumers and producers. It enables prosumers, i.e. households that not only consume but also produce energy, to buy and sell energy directly, with a high degree of autonomy. The current legal and regulatory framework for consumers and prosumers in the energy sector is clearly defined and provides protection on many levels to consumers in particular. However, in the medium to long-term, this framework will probably have to be adjusted to reflect the requirements of decentralised transaction models.
Blockchain technology shows a lot of promise. Other than being used to execute energy supply transactions, it could also provide the basis for metering, billing and clearing processes. Other possible areas of application are in the documentation of ownership, the state of assets (asset management), guarantees of origin, emission allowances and renewable energy certificates.
Visit this section again to learn how Blockchain technologies can be leveraged to radically change the energy market.