uk energy supplier centrica to trial blockchain technology - power storage devices
LONDON (Reuters)-
Centrica, UK energy supplier (CNA. L)
The company said on Monday it will launch a local energy market trial using blockchain technology later this year.
Blockchain provides consumers with a secure platform to buy and sell directly from each other, and some European utilities are exploring the platform, saying it could revolutionize the energy industry.
Centrica said the test could be one of the six largest energy suppliers to implement the largest blockchain project in the UK.
The project will test a range of energy deals including multi-energy dealsparty peer-to-
The company said peer transactions between 200 businesses and residential participants.
The trial will be part of Centrica's local energy market Project in Cornwall, southwest England, which is testing storage equipment and technologies such as domestic renewable energy power generation, including solar roof panels.
Mark hanafen, chief executive of Centrica Business, said in a statement: "This is an exciting opportunity for us to test blockchain technology, go beyond theory and put it into practice
Centrica will work with the United StatesS. -
Technology-based start
The project received an undisclosed sum of funds from Centrica's £ 100 million last year ($137. 3 million)
Innovative arm.
Centrica also conducted a trial in Texas using LO3 Energy, which is said to be the world's first micro-battery
Hedge markets for business customers. ($1 = 0. 7283 pounds)