Looking at blockchain applications from the perspective of energy development

Blockchain is expected to serve as an important breakthrough for independent innovation in core technologies, accelerating technological and industrial innovation and development.

Digital finance, digital asset trading, electric power, supply chain management and other fields are naturally compatible with blockchain technology in terms of business model upgrades. Enterprises in the industry that have already begun to deploy blockchain technology are expected to enjoy the benefits of blockchain technology promotion in the future.

Blockchain is expected to become the next independent innovation outlet

On the afternoon of October 24, the Political Bureau of the CPC Central Committee held its 18th collective study on the current status and trends of blockchain technology development. The General Secretary emphasized that blockchain should be used as an important breakthrough for independent innovation of core technologies, and that the innovative development of blockchain technology and industry should be accelerated. Technology reserves and breakthroughs, industrial implementation and integration will become the main focus of the further development of blockchain technology.

On October 28, the first case of online infringement dispute in China was implemented with blockchain smart contract technology to implement "one-click filing". After being reviewed by the case filing court, the case was successfully filed and entered the execution system. The establishment of the Beijing Internet Court's Tianping Chain means that blockchain technology has taken a big step forward in serving judicial trials, deeply integrating with judicial business, and improving the quality and efficiency of trials.

In-depth deployment of blockchain technology in the power and energy sector

On the power grid side, in August 2019, State Grid E-Commerce Co., Ltd. (State Grid Financial Technology Group) established "State Grid Blockchain Technology (Beijing) Co., Ltd." State Grid E-Commerce has built the first judicial-grade trusted blockchain public service platform in the State Grid system.

In the field of new energy, in 2018, Xinneng Boan began to explore the application of blockchain technology in the new energy industry;

In May 2019, the new energy chain, positioned as a green asset digital ecological network, was successfully launched.

In July 2019, the 6.1MW industrial and commercial distributed photovoltaic power station in Weifang City, Shandong Province, as the first batch of "New Energy Chain" power station assets, has completed the transaction.

Relying on the founding team's rich experience in photovoltaics, technology, and finance, after two years and an investment of tens of millions of yuan in R&D costs, Xinnengchain has developed into the first new energy + blockchain innovative enterprise.

Blockchain promotes the expansion of business models in the energy sector

The decentralized approach of blockchain, from distributed storage, cryptography, smart contracts and other technologies, has a natural fit with the energy sector. By converting energy into digital assets, records of photovoltaic and wind power generation, electricity sales, electricity consumption, etc. can be saved as data blocks, which is conducive to enterprises to explore a wider range of service needs and business models.

The new energy chain uses blockchain technology to solve the problems of green new energy asset digitization and value circulation. The three core products of the new energy chain - new energy asset management platform, new energy asset trading platform and third-party service platform, solve the problems of new energy asset digitization, judicial confirmation and value circulation.

For power plant owners, the standardized on-chain process of the new energy asset management platform will help asset owners complete asset digitization and judicial confirmation of ownership. For investors, the new energy asset trading platform will effectively improve the security of assets and guarantee asset returns. The third-party service platform includes 12 cooperative institutions including Jianheng Certification, TUV Rheinland, China Enterprises Asset Appraisal, and Xinghua Accounting Firm. Through the consensus mechanism of blockchain and the professionalism and credibility of cross-domain cooperative node institutions, the data is ultimately guaranteed to be effective and reliable.

Massive data on-chain helps the value circulation of new energy assets

Blockchain can not only provide a distributed storage center for massive data in the construction, operation, and trading of new energy assets, but also solve problems such as data integration and value transfer faced in the process.

Using blockchain technology, Xinnengchain maps offline physical assets to the Internet, and conducts digital identity authentication, judicial title confirmation, and on-chain evidence storage to form digital assets and title-confirmed assets, split up rights such as operating rights, use rights, and carbon emission rights, and assetizes data through the circulation of rights, asset data, and transaction data, thereby forming a true value circulation.

We are optimistic about blockchain technology, which will help transform the future development model of electric energy and other fields. At the current stage, enterprises represented by Xinnengchain are in the stage of accumulating technology investment, focusing on building blockchain information services that meet their business development needs. In the process of continuous integration of the industry and blockchain technology, they enjoy the leading position in the industry with the help of technology and first-mover advantage.

The combination of blockchain technology and the industry is expected to usher in an explosion from 1 to N. Its explosion will drive blockchain from a "trust machine" to an important "engine" leading the industrial wave.