- Internationally recognized electrical engineering firm ABB has created a blockchain platform that will help in the seamless distribution of energy using a P2P model.
- To fulfill its vision, ABB has partnered up with an Italian energy aggregator called ‘Evolvere’.
ABB — a well-known engineering firm — has reportedly released an all-new pilot blockchain system that looks to promote the use of solar energy via a P2P distribution model.
In regards to the matter, it is being said that ABB will be partnering with Italian energy aggregator ‘Evolvere’ so as to deploy its latest offering — which is reportedly called ‘Prosume’.
As per a spokesperson for the firm, the pilot program will help in the facilitation of p2p energy transactions in a completely transparent and secure fashion.
More On The Matter
According to the folks over at ABB, their latest blockchain venture seeks to help in the widespread adoption of “blockchain-ready inverters” so that the masses can help decrease their capital and operational expenditure costs.
Not only that, in regards to the matter, ABB’s Giampiero Frisio, was recently quoted as saying:
“The Evolvere project has allowed us to develop viable and proven solutions for the market in anticipation of new dynamics and regulatory frameworks coming in to place for blockchain technology.”
It should also be pointed out that the ABB Group has previously been involved with a number of renewable energy projects (over the past couple of years). Additionally, we can see that the firm currently has its operations in places like Europe, North and South America, Asia etc.
Lastly, from a financial standpoint, we can see that last year ABB was able to rope an operating revenue of around $29 billion.
Other Details Worth Pointing Out
- Blockchain technology has been gaining a lot of mainstream traction over the past 3-4 years — with big-name players such as Data Gumbo Corp being able to raise a lot of money for their blockchain-based projects with relative ease.
- It is being rumored that Data Gumbo’s blockchain-as-a-service platform will help increase the efficiency of “oil and gas supply chains” by allowing for automated payments to take place in a hassle-free manner.
In closing out this piece, it should be pointed out that over the past 12-24 months, a number of established companies have been trying to create novel blockchain-driven offerings so as to increase consumer interest in the sustainable consumption of energy (all over the planet).