Mr. Strüker, as a consultant for the German Energy Agency and a specialist in energy management, I understand you are currently evaluating about a dozen proposals for blockchain applications in the energy industry. Is blockchain technology ready for practical use?
JENS STRÜKER: In the energy sector, this time is fast approaching. In particular, the ability to automate and handle real-time contracts, processes, and transactions using blockchain technology is literally electrifying companies in the industry.
Why are companies so interested in it?
STRÜKER: For several years, the German energy industry has been undergoing a radical change from a centralized energy supply to a decentralized system. Blockchain technology could be the answer to many of the challenges companies are facing along the way. There are many use cases and many exciting pilot projects. The German energy industry is an ideal test field.
Can you give an example?
STRÜKER: The Energy Web Foundation, founded in 2017 in Berlin, is one exciting project. German energy companies have got together with a large number of international partner companies and institutions from Europe, Asia, and the U.S. and are developing an energy blockchain that is compatible with as many national regulatory systems as possible worldwide. The beta version of this energy blockchain has been in testing since the summer of 2018.