This Wednesday, May 16th, Power2Peer is hosting a panel discussion on the state of blockchain technology, with a focus on its applications in the energy sector. Currently there is much excitement about the potential for blockchain to solve a number of problems facing not only energy consumers, but grid operators and energy producers as well. In preparation for Wednesday’s event, I had a chance to sit down with moderator and Power2Peer CEO Dr. Nishikant Sonwalkar, and panelists Alistair Pim, Amitesh Singh, and Chris Taylor.
Dr. Nishikant Sonwalkar, in addition to serving as our moderator for Wednesday’s discussion, is the inventor of a revolutionary solar panel technology that promises to redefine the landscape of the photovoltaic industry. Combining his Photonic Solar Conversion technology with the security, transparency, and efficiency of blockchain transactions, Dr. Sonwalkar is optimistic about his role as Power2Peer President and CEO in blazing a trail for energy blockchains in Boston.
“A game-changer for energy blockchains will be our technology which maximizes the efficiency of blockchain-enabled solar microgrids by improving solar panel power production by over 20%. Photonic Solar Conversion will play a key role in expanding the frontiers of distributed generation and peer-to-peer energy transaction via blockchain platforms,” Dr. Sonwalker said on Friday.
Alistair Pim, VP of Innovation and Partnerships for the Northeast Clean Energy Council (NECEC), sees blockchain as being uniquely suited to meet the challenges facing distributed generation, particularly through peer-to-peer transactions.
“With the growth of distributed generation of solar and other assets, there’s a crying need for people to be able to transact directly,” Pim said. “It’s incredible how the energy blockchain has taken off in the last two years. It’s opened up a whole new world of potential value for distributed generation.”
Amitesh Singh, with 18 years of experience working with automation and control in the energy industry, knows first-hand what a massive undertaking it is to ensure the security of billions of automated control devices.
“What is most inviting about blockchain is its ability to make automated tech more transparent and secure. The energy sector spends billions ensuring the security of these devices.” Speaking on the scale of what’s at stake, Singh noted that in total, some eight billion IoT devices are coming online each year. “In fact, companies like Microsoft are seeing tremendous value in using blockchain to make secure transactions with IoT devices. Going forward, blockchain will provide the backbone to making transactions securely.”
Chris Taylor, Co-Founder and Chief Visionary Officer of Consilience Systems, Inc., is known to take a broader view of blockchain’s impact on society. While Taylor has been responsible for drawing attention to its application in the energy sector, his interest in blockchain extends beyond energy to a myriad of groundbreaking uses.
“Blockchain represents a true leapfrog in cryptography, and it has succeeded in creating layers of trust.”
Taylor went on to express excitement about the progress that has come from cumulative efforts across a multitude of applications. “Solutions to simple problems have enabled solutions to much more complex issues. Blockchain is going to be crucial to the future and to the creation of new systems.”
Spots are filling up fast for what promises to be a constructive and informative look at the state of blockchain and the green energy industry. Food and refreshments will be provided along with an opportunity for networking following the discussion. Register now here. You can sign up for Power2Peer’s newsletter and read the white paper here.