Initiative will tackle standardisation gaps around energy trading using distributed ledger technologies
BRUSSELS, October 22, 2020 — The International Association for Trusted Blockchain Applications (INATBA) and the Global Observatory on Peer-to-Peer, Community Self-Consumption and Transactive Energy Models (GO-P2P), an Annex of the User-Centred Energy Systems Technology Collaboration Programme by the International Energy Agency, are launching a joint Task Force focusing on the use of distributed ledger technologies (DLTs) in energy trading business models.
Peer-2-peer (P2P) energy trading models have the potential to transform the energy grid. P2P energy trading can enable anyone to produce and sell energy to their peers, thus disrupting the traditionally centralised and heavily regulated energy sector. Facilitated by technologies such as blockchain, they are challenging policymakers across the world to regulate these models in a fair and technology-neutral manner through initiatives like regulatory sandboxes and updated standards.
This Task Force will study and compare international pilots of DLT-enabled P2P energy trading, as well as provide a forum for discussion and development of new standardisation recommendations. It will also represent an international platform for collaboration and information exchange between stakeholders from any sector (i.e. industry, academia, non-profits) working on these new energy trading models.
“Our goal at INATBA is to convene critical conversations that drive real progress and adoption of distributed ledger technologies, including through task forces like this one,” said Marc Taverner, Executive Director of INATBA. “We are looking forward to our work with GO-P2P and we are excited to see new standards recommended by this group improve blockchain adoption across this global sector.”
“The Energy Sector was identified early on as one of the most sensible use cases for distributed ledger technologies. Now that a variety of pilot projects are in operation around the globe, it is crucial for all involved stakeholders to receive reliable data and peer review on the feasibility of P2P trading in real-world markets and the resulting implications for regulation, infrastructure investments and business models,” said Irene Adamski and Bara Greplova, co-chairs of the INATBA Energy Working Group. “We are delighted to have gained such a strong partner as the GO-P2P for driving these efforts forward and are looking forward to offering high-quality comparative case-studies to regulators, our respective members and the wider ecosystem.”
“As DLTs gain in popularity in the energy sector, international collaboration initiatives such as this Task Force are crucial to bridge existing knowledge gaps in the field and provide evidence to regulators. We are excited to be partnering up with INATBA, a leading organisation in the DLT space, to tackle these questions,” said Alexandra Schneiders, operating agent for GO-P2P.
INATBA is the leading convener in the global blockchain ecosystem, offering developers, companies, and users of blockchain/distributed ledger technology a forum to interact with regulators and policymakers and bring blockchain technology to its next stage. INATBA currently has 167+ active nonprofit and enterprise members and is advised by more than 40 academic institutions and 23 governmental organisations and agencies from 15 countries across Europe, North America, Africa, and Asia. INATBA often issues research and commentary on blockchain regulation and policy from its 14 workgroups spanning finance, governance, education, healthcare, identity, climate action, and more. The mission of INATBA is to develop transparent and inclusive governance and cooperation models for blockchain applications, to inform policy and regulatory measures that may contribute to harnessing the many opportunities of blockchain through a close dialogue with policy-makers and regulators, and promote regulatory convergence that drives potential impacts for society and the economy from these technologies. To learn more, visit www.inatba.org.
Launched in September 2019, the Global Observatory is a three-year collaborative research project led by University College London (UCL) under the User-Centred Energy Systems Technical Collaboration Programme by the International Energy Agency (IEA). It represents a forum for international collaboration to understand the policy, regulatory, social and technological conditions necessary to support the wider deployment of peer-to-peer, community self-consumption and transactive energy models. It includes 150 participants from 10 countries, representing a range of sectors (academia, industry, non-profits) and currently working on the researching and implementation of these new business models. To learn more, visit: https://userstcp.org/annex/peer-to-peer-energy-trading/.
INATBA Press Contact
Rachel Pipan, firstname.lastname@example.org
GO-P2P Press Contact
Alexandra Schneiders, email@example.com