EDP is the first company in the Brazilian electricity sector to implement a Blockchain solution for distributed generation by using RIDDLE&CODE's technology (FOTO)

Vienna/São Paulo (ots) -

Crypto tags enable smart functionalities for conventional meters
and automation of the net metering process on the Blockchain

Energias de Portugal (EDP), the leading company in innovation in
the Brazilian electric sector, becomes the first in the market to use
blockchain technology for the measurement and recording of energy
consumption and distributed generation coming from its consumers. The
pioneer solution facilitates the process of managing the energy
produced by the solar plants and consumed by the customers, the
so-called 'prosumers', who consume and produce energy at the same
time.

The project was created in partnership with the Austrian
Innovation Leader RIDDLE&CODE, who has developed a non-removable
cryptographic tag. By attaching these tags to domestic energy meters,
measuring the co-consumption of each user and facilitating
calculations for charging and taxing become possible without the need
to install an intelligent meter. Thus, it is possible to safely
assign if there was an excess of energy or if there will be a
discount on the invoice.

Among the benefits of this solution is the improved management of
energy flow decentralization with the connection of the three agents
involved: distributor, consumer and distributed generation plant. It
guarantees the veracity, transparency and traceability of data, the
possibility of registering the customer and the remote meter reading
of conventional meters. The design of the solution using Blockchain
technology aims to ensure the scalability and sustainability of the
entire system.

For EDP's executive innovation manager, Lívia Brando, "the
implementation of this innovative solution made it possible to
transform a complex process into something simple, effective and safe
for the parties involved, encouraging the use of distributed energy
in Brazil".

"We have developed a secure, cost-effective and scalable solution
combining EDP's IT system with state-of-the-art blockchain
technology. At the same time, we enable a completely new approach to
business.", says Alexander Koppel, CEO of RIDDLE&CODE.

About RIDDLE&CODE

RIDDLE&CODE is the European leader in blockchain interface
solutions. Their hardware and software allow companies to master the
challenges of our digital society, such as machine identity, product
provenance, and supply chain management. Since its foundation,
RIDDLE&CODE has been working successfully in international companies
and institutions. The company has been recognized with several awards
for its technology.

More information: www.riddleandcode.com

Contact:
Deborah Grumberg
+43 699 1 923 60 30
deborah@riddleandcode.com

Original-Content von: RIDDLE&CODE - The Blockchain Interface Company, übermittelt durch news aktuell