A research lab within the U.S. Department of Energy has revealed it is exploring the application of blockchain in managing next-generation power grids.
Making the announcement last week before the U.S. Senate Committee on Energy and Natural Resources, Carl Imhoff, a manager at the Pacific Northwest National Laboratory (PNNL), said that the technology has the potential to facilitate new ways of exchanging energy in a peer-to-peer fashion.
Disclosing that the research lab is actively investigating this application of the technology, he told committee members:
"PNNL is currently working with DOE and industry partners to determine the optimal use of such resilient data concepts as blockchain in emerging market constructs such as transactive energy.
A Canada-based blockchain research effort has added over a dozen members including major companies Tencent and FedEx, and the Ontario Ministry of Health.
The Blockchain Research Institute was originally founded in March by Don and Alex Tapscott, and backed by a group companies like IBM and PepsiCo, as well as a number of blockchain startups.