British company Centrica is testing the blockchain platform. The use of this technology will allow to improve the local energy market.
It is reported that the British energy company Centrica conducted testing of blockchain -technology, which will allow the company to modernize the business. Centrica is engaged in the storage and supply of gas, the supply of electricity to consumers, as well as the provision of services. The new technology allows to improve the local energy market Centrica (LEM), which plans to conduct mutual trade between energy consumers. In order to achieve these goals, Centrica agreed to work together with the American start-up LO3 Energy, which is engaged in the creation of a "smart network" based on blockchain technologies, in order to sell energy directly to consumers. The British company will be able to use the LO3 Energy blockchain platform in order to keep payments information there. The sales participants can use this platform for buying and selling electricity. And they will be able to do this in just a few clicks. The company also agreed on a partnership with EPEX SPOT. The enterprises will jointly develop a blockchain site that will allow such countries as France, Germany, the United Kingdom, the Netherlands, Belgium, Austria, Switzerland and Luxembourg to trade excess energy capacities among themselves. The representatives of Centrica note that the blockchain technology is perfectly suited to their business plans. It makes possible to create the entire decentralized complex process of buying and supplying electricity abroad.