Block Chain in Power Sector

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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
    • Ethereum
    • Bitcoin Cash
    • Ripple
    • Dash
    • Litecoin.

  • With transactional security and reliability as its core capability, it can help create -
    • immutable records
    • strengthening systems like bill payment, solar renewable energy certificates
    • e-charging infrastructure
  • 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 –
    • micro grids
    • independent power producer settlements
    • grid 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 : Anil Kumar
Block chain is a very useful technology. Thanks for the information.
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 insights — I appreciate you taking the time to share these very useful resources.
Posted by : Shaktiman
Very nice article
Posted by : Manas
Very interesting and use full article. Waiting for next .....
Posted by : Pawan Kumar Tiwari
Very Nice Sir...!
Posted by : Prateek Tripathi
Very nice sir it was very useful, very excited for the next article...
Posted by : Gunjan
Very useful .. Shivam , you should come up with next in series asap ... keep up the good work

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