Today the European Commission published a document about digitalising the energy sector. As part of its action plan, it will develop an experimental platform for blockchain-based energy trading. It also mentions actions to restrict energy use for crypto mining during the current crisis.
Regarding energy trading, it typically involves renewable energy projects in which households can provide solar-generated power to the grid or a local microgrid. These power sellers are compensated using blockchain for trading and tracking transactions.
Europe’s experiment will focus on how people respond to price signals and identify potential barriers to adoption, whether legal, regulatory, fiscal or technical.
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