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SAP and rosseti Ural tested a blockchain-based solution for electricity payments in Yekaterinburg

SAP and rosseti Ural tested a blockchain-based solution for electricity payments in Yekaterinburg

Rosseti Ural, an electric grid company, together with SAP, a manufacturer of ERP and other corporate systems, presented a prototype of a blockchain-based solution for payments between energy market participants at the Electric networks exhibition.

The solution was developed on the basis of SAP Cloud Platform and tested in residential premises in Yekaterinburg. 250 metering devices were connected to the system, and meter readings were taken every half hour and stored in the blockchain.

The system works as follows: the electricity consumer enters into a smart contract that specifies the terms of electricity supply and tariffs. Based on this information, the smart contract calculates the payment amount based on the electricity consumed, and when making a payment, this amount is distributed between the network and the power supply company.

Based on the results of testing the project, the companies concluded that the blockchain technology really speeds up payments from the end user to the electricity supplier, and previously the process of calculating the electricity used and receiving payment took several weeks. In addition, the blockchain-based system ensures transparency of calculations, since all information is publicly available in a distributed registry and remains unchanged.

Sergey Semerikov, head of the Blockchain project at rosseti PJSC, and Dmitry Pilipenko, Deputy General Director of SAP in the CIS countries, believe that the tested prototype will help solve current problems and disagreements between participants in the retail electricity market, because today the Russian energy industry does not have a single information space for exchanging such data.

Recall that this month, the Waves Enterprise platform also presented a solution for automatic electricity metering as part of the Rossetey pilot project.