Applying blockchain in the power industry could help modernize the cyber side of the business

POWERGRID INTERNATIONAL | Since becoming Investor Owned, utilities are incentivized to “build more stuff” due to cost-of-service regulation (COSR). For the most part, these policies are in-line with public interest, but not always. I have been in meetings where large amounts of equipment were scheduled to be replaced before the end of their life cycle just so the utility could capitalize the expense. This is wasteful and does not align with society’s interests.

I believe that allowing the utility to capitalize software upgrades will help them provide more value to the ratepayer, investor, and even the utility workers. With the DOE’s Smart Grid initiative, utilities have been pushed to improve their reliability numbers through the implementation of automated technologies. For these automated technologies to work together they must be able to communicate efficiently. Blockchain is a new technology that can be used to achieve a truly ‘smart’ electrical grid.

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