Energy Web Foundation

The Energy Web Foundation has increased its members in an effort to expand its portfolio of ideas and resources, which the organisation can use to reach its goal of accelerating blockchain adoption in the energy industry.

The Energy Web Foundation has registered global IT firm WIPRO as its newest member.

The new member will collaborate with more than 50 members of the foundation around the globe to build and scale up the Energy Web Chain, the first public, open-space blockchain platform tailor-made for the energy sector.

Members of the organisation include TEPCO, Centrica and Engie. Read more on this...

WIPRO will provide its expertise in IT and in energy consulting to help the non-profit organisation to identify, document and assess the most promising use cases of blockchain technology.

The IT firm will use the organisation’s research and development investments, gain access to the blockchain system and collaborate with application developers to provide functionalities needed to implement blockchain use cases at scale.

The aim is to come up with a resilient and interoperable blockchain standard that would reduce costs and complexity, align currently dispersed blockchain initiatives and facilitate technology deployment.

Jesse Morris, chief commercial officer of EWF, said: “Digitalisation is one of the mega-trends driving the electricity grid’s transformation and re-making how utilities, grid operators and others interact with this enormously complex system.”

Subbi Lakshmanan, senior vice president and head of digital for energy, resources & utilities business, Wipro Limited added, “… allied technologies such as IoT, Analytics and AI will play a central role in helping the industry embrace the path-breaking move towards a new energy economy, enabled by distributed energy resources. ”