In the crypto world, blockchain is used to secure, verify and scale information at hand, whether that be DeFi, Dapps and transaction peer-to-peer with full transparency and no middle man involved, making it one of the most groundbreaking technological advancements for a long time.
In the energy sector, we utilize blockchain as an audit and validation tool to record and facilitate micro transactions between generators and consumers of energy, which includes various use cases, such as: Peer-to-peer electricity trading which allows the sale of excess renewable energy to other network participants through bespoke automated smart contracts on an immutable ledger.
What is NICL doing?
NICL specialise in a partnering approach to Blockchain technology application can provide prosumers and consumers greater efficiency and control over their energy sources and generation. Utilising bespoke immutable ledger technologies which provides secure and real-time updates of energy usage data to include dynamic containment and aggregation, market prices, marginal costs, energy law compliance and fuel prices.