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Most pilots are still in early stages across the energy value chain, primarily in the area of peer-to-peer energy trading. EY is working with companies in the power and utilities sector to develop use cases and prototypes." In addition to the aforementioned April 2016 development, where residents in Brooklyn, New York, successfully traded renewable energy using a smart contract on the public Ethereum blockchain platform, he says that in Australia, several pilots are under way, allowing residents in Perth and South Western Australia to buy, sell or swap excess solar energy with anyone connected to the Western Power network. Furthermore, he says that Germany, with Berlin as the global hub of the technology, has a strong presence, as does the U.K., building on the early investment of the financial services sector in the technology. "Blockchain maturity seems to be driven by company ambition rather than any national advantage at this stage," says Mortier. He is especially excited about the emergence of pre-programmed "smart contracts" that can trigger transactions automatically. "These smart contracts, for example, can be set to allow prosumers to feed surplus energy into the grid through a blockchain-enabled meter. The flow of electricity is automatically coded into the blockchain, and algorithms match doctor home loans Oak Laurel 0430129662 buyers and sellers in real time based on preferences. Smart review Heart Surgeon mortgage contracts then execute when electricity is delivered, triggering payment from buyer to seller. Removing financial transactions and the execution of contractual commitments from central control brings a whole new level of decentralization and transparency that the industry has never had before." Mortier also touts the rapidly growing prominence of energy trading, an area he says appears to be moving toward a commercial solution more quickly than many of the others. In conclusion, Mortier says that there has been significant interest in tracking and tracing resource types (green gas, for example) and in the peer-to-peer, prosumer-led trading.

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