Blockchain will play a key role in creating a secure foundation for edge computing and distributed intelligence, according to a new study report issued by market intelligence firm Navigant Research.
Johnathon de Villier, research analyst with Navigant Research, said: “Blockchain augments existing systems management technologies with an authentication layer that enables devices in a network to constantly verify each others’ identity, location, state, or status.
“System operators can further expand their capabilities by combining blockchain with parallel technologies such as machine learning, artificial intelligence, and cybersecurity suites.”
The report states that blockchain technology companies are partnering with utilities to explore the use of the solution in balancing the grid using distributed energy resources and in enhancing cybersecurity capabilities.
The need to secure DER operations at device or asset level is driving the application of blockchain in the energy industry.
As the Energy Cloud transformation progresses and the number of interconnected devices in distributed systems grows, the centralised command and control model must give way to a new model that increasingly relies on automated processes at the grid edge.
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