The German state-funded energy project uses DLT to enable transparent market transactions.
A blockchain-based energy trading platform backed by German technology giant Siemens is being publicly demonstrated today in a Bavarian municipality.
The project called „Pebbles“, short for „blockchain-based peer-to-peer energy trading“, is carrying out a virtual demonstration of its blockchain-based marketplace for optimised electricity trading. The demonstration was officially announced by the project on 22 October.
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The public demonstration of the Pebbles energy platform in the city of Wildpoldsried in Bavaria marks an important milestone after the launch of the project in March 2018.
Pebbles, financed by the German Federal Ministry of Economics and Energy, is a joint initiative of the regional utility Allgäuer Überlandwerk, the network operator AllgäuNetz and Siemens. The project is also supported by the Kempten University of Applied Sciences and the Fraunhofer Institute for Applied Information Technology.
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The initiative aims to provide a platform for private energy producers to market their electricity directly to local consumers without The News Spy the need for intermediaries or traditional network operators. The platform also intends to provide flexible energy from battery storage for electric vehicles. The implementation of blockchain is designed to ensure that all information related to market transactions is immutable and transparent.
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Pebbles is not the only blockchain-based energy project being developed in Germany. In February 2020, BMWi published an analysis of the main blockchain implementations in the energy trade, highlighting four related projects including BloGPV, SMECS, ETIBLOGG and Pebbles.
In October 2020, Germany’s leading government group responsible for energy innovation in Germany, the Deutsche Energie-Agentur, or DENA, stated that the authority is seeking to move its energy ecosystem into a decentralised database.