ETIBLOGG: Energy Trading vIa BLockchain-Technology in the lOcal Green Grid
Energy trading of the future
Modern life is inconceivable without power or gas, and progress is inconceivable without innovative ideas. It is against this background that, in times of Web 4.0, energy trading is facing sweeping digitalization and automation. In order to actively contribute to this process, the ETIBLOGG project is developing a solution that will enable the trading of tiny amounts of energy in real time.
The aim is to enable the simple, fast and decentral trading of energy between neighbouring houses or flats or between shops in a mall. Further aspects in times of grid expansion and increased environmental awareness are energy efficiency and reducing the demands on the German power grid by better balancing times and areas of excess power and power shortages.
Besides creating the core application, the project also deals with supplementary issues, including data security, legal questions concerning energy trading, and the development of business models.
The project is supported by the funding programme ‘Smart Service Welt II’ of the Federal Ministry for Economic Affairs and Energy. The funding period is three years, from 1 April 2018 to 31 March 2021.
The ETIBLOGG project comprises five companies and three research institutions. The industries represented by the companies include Blockchain technology, embedded technology and energy supply and trading. The three research institutions provide scientific advice on the technological development, which they furthermore analyse from an economic and business perspective.
The Role of the University of Hamburg
The University of Hamburg (UHH) will conduct a scientific investigation of the economic requirements, implications and effects that result from the efficiency gains of applying the prototypes and decentralized infrastructures that are explored within ETIBLOGG. The UHH is primarily involved in the analytical and conceptual stage of the project, as well as in the integration, demonstration and evaluation of the project and its results from an economic perspective.
The UHH aims to provide a substantiated analysis of the state of the art regarding the suitability of existing Blockchain technologies and systems and to determine the necessary parameters and Blockchain structures and requirements. Furthermore, the efficiency and other economic implications that result from the prototypes and markets developed in the project will be evaluated. Theoretical considerations and effects on the one hand and the results of the demonstrator in a real-life environment on the other hand will be combined in an iterative procedure. Finally, the resulting insights will be publicised in scientific journals and in the form of presentations, serving the dual purpose of knowledge transfer and of identifying questions and fields for further research.