TOBLOCKCHAIN develops blockchain solution for peer-to-peer energy trading in Groningen

TOBLOCKCHAIN, the Netherlands-based blockchain innovator is – together with project partners DNV GL and Gasunie selected for the development of a blockchain application for peer-to-peer energy trading in Groningen, the Netherlands. A peer-to-peer energy community will be established, in which participants trade energy directly between each other. The blockchain based application provides the direct communication and a solid transaction administration. The solution allows users to share energy and make deliberate choices about the source and type of their energy.

blockchain peer-to-peer energy trading ceremony groningen
foto Alex Wiersma.

The project has been selected during a blockchain-competition organised by the province of Groningen and the Dutch Ministry of Economic Affairs as part of a Small Business Innovation Research (SBIR) program. In this successful competition out of 40 applications five projects were selected in areas like public services, energy and healthcare. De winning proposals receive funding for the development of a prototype. In the next round (May 2018 onwards) one of the projects will receive funding for further product development.

In the new market for renewable energy, companies and consumers are no longer just purchasing energy. They also produce their own energy. TOBLOCKCHAIN developed the PowerToShare solution to support this new market environment. Via PowerToShare all market players have access to the new energy market via a variety of innovative applications. These applications can provide peer-to-peer services like energy sharing, energy trading and energy donation. Blockchain technology will facilitate all upcoming market models in a very secure, extremely cost-efficient and highly sustainable way.

Kaushik Khakhar, CEO of TOBLOCKCHAIN: “As one of the most innovative companies in the world when it comes to Energy Transition and Blockchain, we are proud that we can work together with DNV GL and Gasunie to stimulate the energy transition in Groningen. Creating a working prototype is a major step to make the energy transition in Groningen fashionable, achievable and profitable.”

About TOBLOCKCHAIN

TOBLOCKCHAIN is an innovation firm focused on developing breakthrough innovations using blockchain for consumers, enterprises and governments. TOBLOCKCHAIN team is proud winner of the Energy Track at Dutch Blockchain Hackathon Groningen in February 2017 and won a special prize at Hyperledger Hackathon, Amsterdam in October 2016. TOBLOCKCHAIN was also invited to present its PowerToShare solution at the prestigious Dubai Smart City Event in 2017.

PowerToShare is a beautiful application built on top of Blockchain network with an amazing marketplace. With this application we will make energy transition fashionable, achievable and profitable. PowerToShare empowers every individual to own energy, to share it and to profit from it. With PowerToShare you can share your own energy with friends, family and the community.

For more information about TOBLOCKCHAIN and PowerToShare, please visit http://www.toblockchain.nl

About the project partners

TOBLOCKCHAIN provides the PowerToShare solution and cooperates in the project with DNV GL and Gasunie. DNV GL is worldwide one of the biggest quality assurance and risk management companies providing certification services and independent expert advisory services. DNV GL wants to contribute to a safe and sustainable future. DNV GL developed the certification service Entrace for blockchain and solutions and develops and tests this solution further as part of the project. Gasunie is a European gas infrastructure company and is highly committed to the development of a renewable energy future, including a transparent trading platform. Gasunie is pleased to contribute to this platform for green energy (Sun, Wind, Biogas etc.) where blockchain technology may trigger a breakthrough.