Go back Shivam Bajpai Expert in Block Chain in Power Sector
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Man learned from nature . Aeroplanes were inspired by birds , Bullet trains by the kingfisher , Sonar by doplphins . Man has always looked towrds nature for the complex problems he has faced and found simple solutions to that . Just like taking example of .
Microbes - an inspiration - distributed ledger technology (DLT) - popularly known as blockchain.
What it is ?
Block chain, which is a decentralized ledger, records transactions between two parties in a perpetual manner without the need for thirdparty authentication, thus creating an extremely efficient process for situations where stable data is involved.
The technology provides data management without the risk of manipulation or unauthorized access, allowing critical information to be exchanged between various authorized users.
A system in which a record of transactions made in Bit coin or another crypto currency are maintained across several computers that are linked in a peerto-peer network.
Bit coin is currently the largest block chain network,followed by
With transactional security and reliability as its core capability, it can help create -
strengthening systems like bill payment, solar renewable energy certificates
Block chains can make smart meters more potent by providing accurate data to the supplier without the need for a direct link to specific users, lending more control to the end user.
Over time, all electricity meters could be fitted with block chain nodes, making them capable of plugging into a single power exchange to directly exchange electricity between themselves.
It can be applied as a pilot, with reduced scope, to models such as –
independent power producer settlements
wholesale market trading.
It can help in the maintenance of permanent records by contractors, giving a clear view of a specific object or piece of infrastructure, as well as allowing the update of the ownership data at any given time.
This information can be accessed easily as the system is built on a shared platform, while maintaining the authenticity of the record.
In the case of renewable energy, it can also allow them to keep a close check on the complexity of production forecast as it varies for every generation facility, thereby allowing effective participation in the energy exchange for higher revenue.
This was a brief about blockchain and its uses in power sector . In the next article , we will dive into the endless ocen of BlockChain and then we will move towards Power Sector .
Posted by : Kratika Sharma
As revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. Thanks Shivam for your insightsâ€Šâ€”â€ŠI appreciate you taking the time to share these very useful resources.
Date Posted:2019-01-14 12:23:35
Posted by : Shaktiman
Very nice article
Date Posted:2019-01-14 12:09:05
Posted by : Manas
Very interesting and use full article. Waiting for next .....
Date Posted:2019-01-13 10:03:07
Posted by : Pawan Kumar Tiwari
Very Nice Sir...!
Date Posted:2019-01-13 00:59:31
Posted by : Prateek Tripathi
Very nice sir it was very useful, very excited for the next article...
Date Posted:2019-01-11 23:30:27
Posted by : Gunjan
Very useful .. Shivam , you should come up with next in series asap ... keep up the good work