A new Navigant report concludes that blockchain technology will play an important role in the management and improved security of distributed energy.
Characterized by decentralization, a growing number of diverse, interconnected resources, and the increasing use of digital technologies, distributed energy needs a framework for improved cyber security at both the network and device level, says Navigant Research.
When combined with IT security, artificial intelligence and machine learning, blockchain will be able to verify transactions and enable further developments in computing at the edges of the grid. Already, early adopters among utilities and tech companies are exploring new blockchain applications that will facilitate the growth of distributed energy.
Blockchain is a crucial part of the strategy to adapt to major changes in energy technology, the Navigant report says, including the drive for performance-based evaluation of utilities, the proliferation of distributed resources, and massive increases in multi-directional flows of energy-related data.
More information about the blockchain report is available from Navigant Research.
[ https://www.navigantresearch.com/reports/blockchain-establishes-a-secure-foundation-for-distributed-systems-management ]