UK launches first blockchain-based power asset registration project

According to Energy Live News, the UK blockchain power startup Electron, the UK national grid power system operator, SP Energy Network and the UK grid have jointly created the first shared database based on blockchain technology, which will record and lose to the UK. All power generation and storage infrastructure connected to the network. The project is called “RecorDER” and by using the blockchain as an enabling technology, the information will be hosted by all parties involved, eliminating the need for large infrastructure projects or central parties to host the system. By collating existing data sets, the project will improve the visibility and availability of asset information, driving the adoption of new systems, promoting decarbonization, improving forecasting and modeling, and reducing the overall operating costs of the grid.