Clarifying the path to tokenization
The persistent progress of technology brings many opportunities to improve traditional industries as current approaches need to be rethought. This can also be applied to the energy sector. New innovations, such as blockchain and the internet of things, make energy systems smarter and enable consumers to better benefit from energy services. This increasing digitalization has the potential to transform how people engage with these utilities, by bringing control and transparency back to the end-user.
At the moment, the energy sector is heavily regulated and enjoys a certain lack of transparency. Furthermore, new EU regulation states that the support of prosumers (a consumer who also produces energy) as a new way of producing and consuming energy is very important. With new technologies, such as distributed ledger technologies, the opportunities are endless.
In the current metering & allocation setup, every commercial grid connection is equipped with a meter and associated allocation point. Balance responsible parties (BRPs) are responsible for maintaining supply and demand on the energy market within their own portfolio. Together, all BRPs represent all connections within a scheduling area (for example, the Netherlands).
As the BRPs work on basis of expected production, consumption, and external trade, differences between supply and demand may occur. Reconciliation is done to correct for the difference. New technology, such as smart meters and DLTs, allow for real-time energy allocation based on real energy consumption.
This use-case aims to develop the infrastructure that supports an energy token and embed this in the currently available infrastructure.
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