Engineering Innovation in
Smart Energy & Utilities
A Blockchain-based platform for reliable and peer-to-peer exchange of energy between citizens via Smart Contracts.
Approach & Solution
Approach
We live in a high-speed world, constantly looking for increasingly efficient, less bureaucratic and intermediary-free services and processes.
The need for immediacy has prompted the creation of completely disintermediated peer-to-peer services between citizens, as it happens in the direct exchange of renewable energy between prosumers within a Smart Grid or in the exchange of tokens between private individuals. However, currently these processes require the presence of a central authority that regulates the exchanges or the adoption of specific and expensive hardware, causing an economic and time-consuming expenditure.
The DLS OCS project, coordinated by Engineering, was created precisely to innovate and improve the ways in which transactions between citizens take place today, in particular energy ones.
Solution
The DLS OCS project has created a Blockchain-based solution which enables the automatic and peer-to-peer definition of Smart Contracts for the exchange of services within a specific district: it is characterized by the absence of central authorities that regulate exchanges and produces reliable and binding B2B and B2C contracts in a matter of minutes instead of days, as it usually happens with current methods.
Considering for example the energy field, DLS-OCS will reduce the costs and time necessary for the exchange of energy between citizens and businesses. To the latter, the project wants to offer a set of flexible solutions without intermediaries, but still counting on a highly reliable service.
DLS-OCS thus enables new business models and innovative and efficient services. It also provides financial services to those who invest in renewable energies, providing a risk assessment report through the analysis of energy performance within the networks.
The project was co-funded by EIT Digital.
Results
More efficient and cheaper exchanges
Easy peer-to-peer exchange
Elimination of intermediaries and lower bureaucracy
Project value
Innovation Cost cutting
Enabling Technologies
Blockchain
Project Team
Research & Innovation