{"id":14896,"date":"2018-01-25T00:00:00","date_gmt":"2018-01-24T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2018\/01\/25\/us-government-lab-looks-to-blockchain-for-p2p-energy-dash-blockcypher\/"},"modified":"2021-09-18T11:38:25","modified_gmt":"2021-09-18T11:38:25","slug":"blockcypher-2","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/blockcypher-2\/","title":{"rendered":"US Government Lab Looks to Blockchain for P2P Energy (Dash – Blockcypher)"},"content":{"rendered":"

Blockchain startup BlockCypher has partnered with a U.S. Department of Energy lab to develop solutions allowing energy transactions to be settled across multiple blockchains.<\/p>\n

The energy agency\u2019s National Renewable Energy Laboratory (NREL) and BlockCypher first plan to demonstrate peer-to-peer energy transactions\u00a0involving distributed energy resources (DER) over the dash cryptocurrency network between two test homes in the\u00a0NREL\u2019s energy facility, said Dylan Cutler, senior engineer for the initiative at NREL.<\/p>\n

He said in a release:<\/p>\n

\u201cBlockchain technology presents a transformative and highly scalable platform for enabling distributed energy markets, which could enable DER to interact more effectively with the larger grid. These interactions include more efficient demand response, capacity reserves, power quality support.\u201d<\/p><\/blockquote>\n

According to Karen Hsu, head of growth at\u00a0BlockCypher, people can exchange renewable energy peer to peer with the project\u2019s technology. \u201cThis would be important in a natural disaster or when the grid goes down for extended periods, just like weve seen last year across the U.S.,\u201d she said.<\/p>\n

The solution \u2013 which is planned to be blockchain agnostic \u2013 would also help streamline energy consumption by matching power generation with demand, and\u00a0reducing power deficits during times of high energy usage, Hsu added.<\/p>\n

Smart meters with the ability to exchange cryptocurrency for electricity could also make the grid \u201cmore efficient and stable by enabling the monetization of stored energy and energy production at the endpoints of the grid,\u201d said Dash Core\u2019s CEO, Ryan Taylor.<\/p>\n

Globally,\u00a0Australian<\/a>,\u00a0Japanese<\/a>, and\u00a0European<\/a>\u00a0energy providers have been starting to develop blockchain-based energy projects in recent months.<\/p>\n

Further, a research lab within the U.S. Department of Energy\u00a0revealed<\/a>\u00a0last October that\u00a0it is exploring the application of blockchain in managing next-generation power grids. In January 2017,\u00a0the agency began publicly\u00a0soliciting<\/a>\u00a0blockchain research proposals for \u201cnovel concepts for energy systems that rely on blockchain.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Blockchain startup BlockCypher has partnered with a U.S. Department of Energy lab to develop solutions allowing energy transactions to be settled across multiple blockchains.<\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nUS Government Lab Looks to Blockchain for P2P Energy (Dash - Blockcypher) - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/blockcypher-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Government Lab Looks to Blockchain for P2P Energy (Dash - Blockcypher) - 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