Blockchain and EV, a Dynamic Duo?
- Jun 17, 2020 11:43 am GMTJun 16, 2020 1:06 pm GMT
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Blockchain is an emerging application development platform that has tremendous potential for utilities. Since it now lacks infrastructure connections to legacy systems, the technology fits best with emerging applications. Electric Vehicles (EV) are one area that could mesh nicely with blockchain.
Unlike traditional development platforms, blockchain has a distributed architecture, one that can take advantage of the procssing power found with today’s distributed, high performance, hyperscale data centers. The EV software ecosystem is just starting to be put in place. Utitlies need tools to build applications in areas, like EV management and EV/grid integration. Blockchain has found a niche in financial transactions and could also be used for new EV solutions that create additional revenue streams for utilities.
But blockchain presents challenges to energy producers. The technology is new, so finding experienced staff to deploy it can be vexing. Also, its software ecosystem is immature and lacks important features, like connectivity to existing applications and robust management tools.
Blockchain has the potential to provide a firm foundation for greenfield utility applications. EV systems could benefit from its capabilities, but its software development infrastructure has to be fine-tuned.