“Blockchain is not a feared enemy (yet)”

The digital transaction technology blockchain is regarded by some as the death knell for energy providers, while others believe it is far from being mature and applicable, Susanne Ehlerding writes in Der Tagesspiegel. “We don’t panic,” Maximilian Rinck, from Germany’s energy exchange EEX, told the newspaper. He added that transmission grids were not going to be dominated by blockchain any time soon. But Phillip Richard, of the German energy agency dena, said blockchain will allow for savings on grid expansion and fees as power can be sold and billed directly via local distribution grids. “Before blockchain can succeed, it has to solve its own energy problem,” Ehlerding adds. “Transactions are very costly as they have to be booked on all participants’ accounts,” she explains. 

Read the article in German here.

For more information, see the CLEW factsheet How much German households pay for power.