The German Ministry of Economic Affairs and Energy is funding a three-year research project conducted by the Reiner Lemoine Institute focused on implementing blockchain technology in electricity trading. The project is entitled BEST, a German acronym for Blockchain-based decentralized energy market design and management structures. It started in January.
Other consortium participants include OLI Systems GmbH, fortiss GmbH, the Fraunhofer Institute FOKUS, and utility e-regio.
Germany is committed to pursuing the energy transition to shift consumption from fossil-based systems such as oil, natural gas and coal, to renewable sources.
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