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:
Blockchain, he explained in a prepared statement, "could be a part of grid modernization efforts, encourage distributed power generation and storage systems, and help secure emerging market constructs."
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