In any transition or transformation, the old and new must co-exist to generate value. Blockchain 2.0 is no exception. Its promise of peer-to-peer energy contracts is a catalyst to optimise certain business processes.
But while blockchain technology does not replace the need for back-office support systems or demand an IT architecture overhaul, it does require a level of flexibility within existing business processes in order to generate value. It may also change the economic incentive structure of certain markets, enabling new players or use cases.
In this webinar, data integration company DigitalRoute will explain how utilities can correctly meld public blockchain platforms such as Ethereum to existing processes such as energy metering and charging.
Watch the presentation to realise how DigitalRoute’s technology empowers you to take charge of your transition and easily build new services into existing environments.
Blockchain use case - EV charging
Using the application of electric vehicle charging posts, DigitalRoute’s blockchain expert will illustrate in this webinar how old and new technologies can connect.
Electric Vehicle (EV) charging posts are already a reality and growing fast, and more are needed to accelerate a common good - to help the world transition from fossil fuels to zero-emission, clean, silent transportation powered by renewable electricity. Today, charging posts are typically installed and operated in a centralised fashion.
By introducing blockchain technology, the economic model can be decentralised, allowing individual home owners to install, own and earn revenue by letting other EV owners charge using their charging post in a peer-to-peer fashion.
The role of the utility company becomes a facilitator, a provider of charging posts, a creator of an EV charging app, of smart blockchain contracts, of a smooth user experience, of energy metering and charging/billing for energy usage. It is likely that we will see other players enter this market, e.g. Tesla is an EV manufacturer that is also installing charging posts.
By going through this use case, we will demonstrate how energy companies can participate in valid peer-to-peer energy transactions by using a data platform to bridge the gap between normal payment systems and blockchain transactions.
We will see that this use case cannot be solved only using blockchain technology, nor can it be solved elegantly without blockchain technology.
Your speakers will explain how to define logical rules for the invoking of smart contracts that guarantee ‘no loss’, ‘no duplication’ and are ‘always traceable’ across multiple subsystems.
And the potential results? A win-win scenario where economic incentives are aligned:
- Home owners get a faster RoI on a charging post + EV investment by selling charging to other EV owners
- EV owners get more charging locations to choose from, reducing EV “range anxiety”
- Utility companies get a new, digital market in which to offer products and/or services. The shortening of settlement periods from 20 days to hours and the changing of settlement cycles from monthly to daily.
Key takeaways from this webinar:
- Understand how to play in the peer-to-peer, decentralised economy enabled by public blockchain technology
- Learn how Digital Route can wire old and new processes together
- Visualise how the system works through a live platform demo
This webinar is suited to utility professionals with a basic understanding of blockchain technology.
Book your spot now to learn how to bolt on blockchain to your utility to release the value of this emerging technology!