30.05.2023 | Managing energy flexibility using blockchain solutions.
Together with other FEVER partners, FlexShape has successfully developed
an innovative, advanced multi-APP blockchain-based solution for trading energy
and energy flexibility. It uses peer-to-peer technology and primarily targets
energy communities and local DSOs. This solution has high potential, offering
many great opportunities such as traceability, immutability, trust, and
robustness (e.g., when locally running sensitive offer matching/auctioning
algorithms in untrusted environments).
By interacting with the demo partners,
we have learned about the specific challenges of realizing this potential.
Firstly, fostering a high level of trust between users/community members and
solution providers is crucial. Secondly, local country-specific regulations
still present hurdles for local peer-to-peer energy trading. Lastly, the
applicability of the blockchain technology is significantly (negatively)
impacted by the cryptocurrency crisis happening since late 2020.
Having recognized these challenges, it is clear that our solution is at the
cutting edge of technology and will take its time to reach widespread use by
local energy communities.
Consequently, we have shifted our short term focus to this sector while working to overcome the aforementioned challenges in the long term.
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