March 26, 2021 | With its first meeting on March 23, 2021, the advisory board in the project “BEST – Blockchain-based Decentralized Energy Market Design and Management Structures” takes up its work. Twelve advisory board members working in the fields of blockchain, energy management, grid operations, energy supply, and associations, are supporting the project and sharing their perspective on the integration of blockchain technology into the energy industry with the research team.
The BEST project aims to develop an electricity market bidding system based on blockchain as an open-source software. Funded by the German Federal Ministry for Economic Affairs and Energy, research is being conducted into how blockchain technology can best be used for electricity trading in the context of the energy transition. By involving the advisory board, the research team receives valuable input from the field and can have milestones of the project evaluated in advance by the advisory board members.
The advisory board will meet every three months to discuss the various questions posed within the project as well as current developments, solutions approaches, and the potential identified.