Reducing your Risk with Blockchain through Collaboration

April 6, 2020 by Tony Giroti0

Blockchain Technology is akin to the “swiss army knife” that can be applied in many ways to many Energy problems and transactions. The Consortium will apply Blockchain technology responsibly, economically and effectively in a fair and equitable manner to protect the interest of Energy Companies, Consumers and Regulators while developing innovative business models for the future. The Consortium will identify and prioritize the right opportunities for members and provide a pragmatic path to piloting and commercialization. The key value propositions and benefits are as follows:

  1. Reduce Business Risk and Accelerate Time to Market through Collaboration: A collaborative and pooled approach to Research and Development, combined with iterative learnings from pilots will provide the pathway to commercialization at lower risk, lower cost and faster time to market.
  • Pooled approach accelerates execution, lowers cost and delivers faster services;
  • Participate and learn from Pilots without risking too much capital and resources.
  1. Reduce Technology Risk by driving Open Architecture and Standards: Drive an open and standard architecture to reduce technical risk, more competition & reduce prices.
  • Develop standards with a peer community and de-risk your investments for years;
  • Develop Cybersecurity standards: on-grid, off-grid, upstream & downstream.
  1. Create the Vision for the future Architecture for the Industry to follow: Participate in developing Framework, for delivering the next generation of services.
  • Develop future business models based upon an iterative approach.
  1. Accelerate Self-Learning: Ramp up your learning in a peer community.
  • Get educated on the Blockchain technology through hands-on workshops;
  • Participate in research studies and findings.
  1. Trusted Party — Consortium is a safe place to learn and deploy Blockchain solutions:
  • Working with Energy Blockchain Consortium and your peers within the community will provide a safe and secure place to embark on the Blockchain journey and launch Blockchain projects with confidence.

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