How Digitally Modern Processes Make Great Experiences
At a time when experiences are everything, automating processes for speed, intelligence and fluidity will constitute a significant competitive advantage.
Can blockchain be an option for power utilities that want to streamline operations, decrease costs and deliver on the promise of the distributed smart grid? This white paper helps you evaluate blockchain-based technologies and provides guidance on a framework approach to move forward.
Blockchain is already proving its ability to provide secure transactions by applying smart contract technology. With its trustless network, blockchain can also be implemented when establishing trust is a key criteria for the success of the business model. Due to this, the banking industry is currently leading the way with blockchain experimentation.
How can the technology be used in utilities then? Blockchain-based technology (both permissioned and private ledgers) can be applied to numerous processes, such as energy credit management, the promotion of green energy, asset optimization, payments within microgrids, prepaid smart meters and payments to distributed generation asset owners. These are among the many use cases that industry players are exploring via pilot projects.
We also believe blockchain-based networks can help utilities disintermediate suppliers and even retailers throughout the electricity market. Over time, all import and export electricity meters could be fitted with blockchain nodes, and these meters will be able to plug into a single power exchange to directly transact electricity among themselves. This power exchange would run on top of a more scalable and permissioned blockchain platform, thus creating a more efficient market. Currently, blockchain scalability is a challenge for industry-wide applications.
Before embarking on a blockchain journey, however, it is critical to understand the strengths and weaknesses of the technology and how it can be best applied to solve business challenges and achieve strategic objectives. This white paper will evaluate blockchain as a technology option for streamlining operations, decreasing costs and delivering on the promise of the distributed smart grid.
At a time when experiences are everything, automating processes for speed, intelligence and fluidity will constitute a significant competitive advantage.
Whether it’s migrating the entire core infrastructure to one or more cloud service providers, aka hyperscalers, or just simplifying a handful of processes using Software as a Service (SaaS) tools, the cloud represents the digital future. The pandemic has accelerated the ongoing cloud adoption and during 2021, 51% of Nordic organizations are predicted to reach IDC’s highest level of cloud maturity.
Adopting a microservices architecture style? Learn how to avoid implementation challenges and even failures in this whitepaper.
How do you keep up with today’s consumers? Through well-thought-out digital transformation. However, investments too often focus on the front-end experience instead of having a cross-section approach.
Learn how 19 businesses have increased efficiency, realized cost savings and prepared for growth by applying digital technologies to their supply chains.
To deliver a mature digital customer experience, energy and utility companies need a strategic roadmap and strong platform that keeps customers loyal and engaged. Here’s how to get started.
