bloXmove and 50Hertz announce partnership for green electricity thanks to DLT.
On September 15, the blockchain company bloXmove announced a partnership with the electricity network operator 50Hertz. Both want to apply blockchain technology to the energy industry. This should enable a decentralized and sustainable energy supply. Ultimately, electricity consumers should benefit from flexible access to the green electricity supply.
bloXmove was developed in an innovation factory of the German car manufacturer Daimler and is focused on the networking of the mobility industry and the energy sector. Meanwhile, 50Hertz operates power grids in the north and east of Germany. In total, the power grid operator handles the power supply for 18 million people. The energy supplier has set itself the goal of offering 100 percent renewable energy for its customers by 2032.
Concept of partnership
With the DLT, the cooperation between the two companies would like to create a network of transaction chains. In doing so, they intend to enable a decentralized and, above all, secure approach to the storage and distribution of green energy.
Because energy providers usually only store electricity in a single power grid. The concept of bloXmove and 50Hertz is now based on the fact that both companies store electricity in a decentralized manner. Instead of a single power grid, the electricity is stored in many systems. It is thus possible that sustainable energy, such as solar and wind energy, can be stored on car batteries and charging stations. This concept is called vehicle-to-grid. The concept creates completely new supply and demand mechanisms. Exporting green energy abroad at a cost should no longer be necessary.
Both sides optimistic about the benefits of the blockchain
Meanwhile, both parties are optimistic about the future. This is how Sophia Rödiger, CEO of bloXmove, comments on the partnership:
We see enormous potential in linking the energy and mobility sectors with the help of blockchain technology and digital identities (DID). The sector coupling enables a further step in the direction of flexible green energy supply. We are all the more pleased about the partnership with 50Hertz.
Sophia Rödiger, CEO bloXmove
On the part of the partner, too, the cooperation is viewed positively. This is how Kai Schmied, innovation manager at 50Hertz, says:
Sector coupling is an indispensable measure for achieving climate protection goals and at the same time for supporting a stable power grid. In order for the energy transition to succeed across all areas, we need an integrated approach that looks at the overall system and overcomes the boundaries between different sectors – especially with regard to the mobility sector, which will be an important part of the electricity system. We are therefore very pleased to be able to jointly exploit the potential for a more sustainable future through the partnership with bloXmove.
Kai Schmied, 50Hertz Innovation Manager