Service: Decentralized Energy Trading Marketplace

Swedish state-owned energy company Vattenfall is to collaborate with 22 other European energy trading firms to launch a blockchain-based pilot. Should the project prove successful it would become the world’s first blockchain-based trading system for wholesale energy. Vattenfall’s Business Area Markets division will conduct the pilot in order to deepen its understanding of the technology and conclude whether or not such a decentralised solution could match its existing trading platforms while simultaneously reducing cost. The trial will be managed by Hamburg-based B2B solutions provider Ponton, which will provide software that facilitates encrypted sending and receipt of orders through a decentralised order book. The trading is all managed on a peer-to-peer basis, removing the need for a central marketplace that is operated by a third party exchange or broker.