Wednesday, 20. June 2018
Blockchain technology combines critical properties that promise tremendous opportunities when deployed and secured for a wide range of applications: faster and more cost-efficient transaction processing; high transparency and protection against tempering of completed transactions; decentralized and consistent data management in business networks.
The joint project BloGPV researches the use of blockchain technology in the context of the energy industry. An increase in the profitability of PV systems as an energy-economic goal is at the center of consideration. New approaches to achieve this goal are urgently needed, as a steadily growing number of PV systems will no longer be covered by EEG funding and, at the same time, direct trading of energy for owners of PV systems is often not cost-effective due to low prices on the power exchange. How can PV system operators increase consumption or trade excess electricity at more attractive prices?
BloGPV develops and tests a Blockchain-based large-scale virtual storage for PV unit operators. The operation of such a large store is characterized by business processes with a large number of autonomous and decentralized actors who must share and process the same database; controlling energy storage, balancing power, and settling accounts, therefore, require secure IT solutions for business networks. Accordingly, blockchain technology proposes "trustless" interactions to create a trustworthy approach.
The Department of Information Systems Engineering (ISE) at TU Berlin, under Prof. Tai, is dedicated to this challenge. In the BloGPV sub-project Blossom (Blockchain Systems and Off-Chaining Methods) ISE plans to develop a decentralized and trustless data processing system, with smart contracts and distributed transactions for billing and energy storage management. New solutions are developed to explicitly address and improve scalability, to depict and implement complex business logic in smart contracts, as well as to achieve system integration between blockchain and non-blockchain systems.
The project started April 2018 and will be funded under the Smart Service Welt II Initiative for three years.