A year ago, Ledger Insights reported on the Dutch Port of Rotterdam’s blockchain initiative with its subsidiary BlockLab and S&P Global Platts, using the technology for a decentralized energy grid project. Their microgrid electricity trading platform, Distro, leverages AI and blockchain technology to coordinate renewable energy supply and demand. The pilot is now at a mature beta stage, and yesterday the companies reported how Distro could significantly reduce costs.
The solution offers prices that instantly respond to supply and demand changes, incentivizing users to consume less when generation is low. Shortfalls can be made up from battery stored energy. Blockchain smart contracts are used for transaction validation, identification and enforcing market rules.
And AI is used for renewable energy trading, learning a user’s behaviors, preferences and needs. It automatically buys and sells energy at the best price, analyzing data in real-time.
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