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24 October 2020

Germany’s blockchain solution hopes to remedy energy sector limitations

Germany’s blockchain solution hopes to remedy energy sector limitations


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Germany’s blockchain solution hopes to remedy energy sector limitations.

Jesse Morris, the chief customer officer for Energy Web, told Cointelegraph that BMIL will construct a digital registry for DERs in Germany.

If successfully executed, Morris explained that BMIL could serve as the basis for a wide range of DERs supporting both Germany’s wholesale and retail electricity markets: “This will make it easy, efficient and low cost for any DER in Germany to participate in the energy market.

Mamel from DENA noted that BMIL is a project built around the premise of interoperability — one of blockchain’s greatest challenges to date. While DENA is technology agnostic, Mamel explained that DENA aims to test a solution that will be applicable to the German energy sector, which already consists of a decentralized framework with many industry players using different standards.

Mamel explained that the German energy sector is among the most complicated and regulated ones in the world.

As such, BMIL claims to be fully compliant with all regulations in the German energy sector

However, Mamel noted that important questions remain, such as how to ensure that the BMIL blockchain solution is compatible with the General Data Protection Regulation, along with understanding the regulatory challenges that might come up when DENA attempts a “full roll out” of the Blockchain Machine Identity Ledger in the German energy system

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