Energias de Portugal (EDP), the global energy company, is using blockchain in the Brazilian market to monitor electricity producers and consumers. The technology helps to track solar energy produced and provided to the grid as well as consumption.
It works using Austrian company
RIDDLE&CODE‘s crypto tags. These are sealed tags that verify that a domestic electricity meter hasn’t been tampered with. Using NFC and a phone, the owner can access the tag data and upload consumption and electricity production information. The result is a solar producer receives a discount on their electricity bill.
One of the significant advantages is cost. The Austrian startup sells its crypto tags for Euro 20 retail. In contrast, a smart meter costs in the region of $550, though it provides additional functionality. For example, a smart meter doesn’t require the user to regularly upload data and also enables ‘surge’ pricing by the power company. But the price differential is enormous.
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