Blockchain the Answer for Power Provider as China Energy Demand Soars

Blockchain the Answer for Power Provider as China Energy Demand Soars with summer temperatures climbing. And production rising in the wake of the coronavirus pandemic, power suppliers in Dongguan, an industrial town in Guangdong province of China, said they experienced a massive surge in demand – and are responding with a blockchain-powered solution.

The initiative is the brainchild of the State-owned power supplier China Southern Power Grid’s Guangdong branch. And per JRJ, the energy provider has also teamed up with a local power-related tech firm. As well as provincial-based academics to create a pilot solution for smart energy use.

The solution, the media outlet reported, makes use of blockchain technology to identify changes in demand in real-time. Allowing power providers to ensure they can meet rapidly changing demand.

Demand figures feed into a blockchain network and the parties said this will help win the confidence of power providers, regulators, and end-users alike.

Last month, China Daily (via News Guangdong) reported that power consumption in Dongguan is rising rapidly, stating that the city’s “highest power load was 16.93 million kilowatt-hours, up 1.8 percent from the highest point of last year.”

China Southern Power Grid said demand was rising throughout the province of Guangdong this year. Reporting that peak power load “attained 123.81 million kilowatt-hours” on July 14″. Up 1.51% over the highest load recorded last year.”

As reported previously by cryptonews, China’s other state-owned power supplier. China’s State Grid Corporation has launched its own blockchain network. With two provincial power companies now running nodes.