Most of the Power Equipment Manufacturers and their customers have a lot to gain with Blockchain. At the very least, Blockchain, like the Internet is about to become ubiquitous. Like the internet your solutions will need to support Blockchain or at a minimum your solutions will need to operate on a Blockchain. Either way, Blockchain will be an enabler that will enable equipment manufacturers to deliver more capabilities and more functionality, at a reduced cost and optimized cost. Here are 18 use cases where Blockchain can be applied by Power equipment manufacturers:
Improve Internal Operations – Use Blockchain to improve supply chain, track parts and assets, and streamlining industrial processes.
Improve Quality Control and Independent Measurement & Verification – Provide a verifiable and auditable log of test data related to quality and to provide transparency to customers and regulators about quality of equipment and test results.
End to end Parts Traceability – For guaranteeing customers that you are using authentic parts by creating a digital ID that authenticates and document the origin of parts.
Reduce Liability issues – Issues related to moving parts and components from one place to another can be reduced. Any tampering, damage and lost parts can be avoided.
Deliver chain of Custody – Provide tamper proof chain of custody.
Ensure Compliance — Provide complete records for auditing and regulatory compliance purposes.
Manage 360 degrees Asset Life-cycle management – Enable your customers (Utilities etc), to manage, track and govern the overall lifecycle of assets.
Improved Customer Service with Condition based asset management.
Perform proactive asset management – with reduced downtime by ordering replacement parts prior to failure.
Smart Grid and Power Digitization – Leverage data produced by AMI/AMR Smart Metering to deliver next generation of customer services including improved Outage Management and reduce aggregated technical and commercial (AT&C) losses.
Transactive Energy – Integrate Wholesale market with Distribution Utilities to deliver customers with calibrated price signals so customers can optimize their energy consumption and get more choices.
Energy Conservation – Improve Energy conservation measures that improve energy efficiency in buildings and commercial customers including ensuring that there is traceability and verification of adherence to energy conservation building codes.
Harness the data – Unlock the data produced by millions and billions of IoT devices.
Solve Tech Challenges – With the emergence of IoT devices, Analytics, AI, Robotics, and upcoming 5G, there is an opportunity to leverage Blockchain in integrating these technologies across a single platform that becomes the basis for next generation of services and solutions.
Prosumers and DER Integration – Enable the next generation of prosumers who are both producers and consumers of electricity. Facilitate the integration of DERs on demand.
Provide behind the meter visibility to Utilities who are traditionally ‘blind’ to behind the meter equipment.
Connected Home – Blockchain can be used to integrate the connected home with the main grid. This integration will complete the loop with an otherwise disconnected consumer and their home.
Energy Management – Blockchain can be used to manage energy data, for benchmarking and for compliance reporting.