Major Spanish energy company Iberdrola has conducted a blockchain trial with two local banks to track the origins and use of renewable energy.
The first trial was conducted in cooperation with Kutxabank, a local bank based in the Basque Autonomous Community that owns a substantial part of Iberdrola’s equity, and its subsidiary Cajasur.
During the pilot, Iberdrola monitored the renewable energy delivered from two wind farms and one power station to banks’ offices located in Basque Country and the southern city of Cordoba.
The company used Energy Web Foundation — an open source blockchain platform designed to fit the regulatory, operational and market needs of the energy sector— in their pilot. They found that blockchain enabled the…
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