CONTEXT: Current grid/energy/utilities infrastructure is limited by its design for one-way flows of energy and value. Developments in the field of energy storage, such as new generations of battery packs and built in storage of electric cars, address the ever-growing energy demand, challenging this traditional design. The combination of blockchain technology and cryptography can help overcome some of the limitations of the conventional systems and creates the opportunity for new business models.
1 Integrate our R3C Energy Extension into any energy storage solution, providing tamper-proof digital identity and settlement capabilities
2 Install enhanced trusted energy storage solution within residential or commercial locations
3 Enable decentralized settlement between energy prosumers on the ledger of choice
Incorruptible digital identities secured by crypto chips.
Scalability, and interoperability between smart grid systems.
Machine integrity to establish trusted data sources.
A settlement layer to execute automated transactions between distributed ledgers, the grid and the prosumer.
The current energy infrastructure follows a centralized design approach. A few large producers provide energy to millions of consumers, one-way. Most current systems and regulatory provisions do not allow for small producers to participate in both production and settlement.
Centralization of grid infrastructure
Lack of interoperability and transparency prevents automated settlement
Lack of incentives for local energy production
Regulatory provisions prevent agile prosumption models
RIDDLE & CODE SOLUTION
Our hardware establishes a secure digital identity for any kind of battery pack, transforming it into a trusted data source. The additional transactional capabilities, including (automated) settlement, turn the battery pack into a self-sovereign participant of an emerging energy marketplace.
Increase efficiency and reliability of (automated) future, ledger-agnostic mobility solutions
Provide heightened trust in, and between systems
Allow for secure and automated settlements, as well as individual payments triggered by the driver (per app)
DECENTRALIZED ENERGY SHARING
Trusted energy storage solution enables decentralized energy trading and settlement between local communities
BLOCKCHAIN-ENABLED ELECTRIC CAR CHARGING
Trusted energy storage solution provides new business models by building upon the settlement capabilities. Clients are able to offer charging features to third parties
1. What is this solution comprised of?
The Trusted energy storage solution powered by RIDDLE&CODE consists of: One or more energy storage solution(s) e.g. battery packs.
• The RIDDLE&CODE Energy extension
• A digital Energy Meter
• Connection to our R3C Ledger
• Settlement capabilities
2. What are the benefits using the RIDDLE&CODE enhanced energy storage solution?
Secure digital identity and ledger connectivity enable new prosumer interaction. Settlement capabilities enable new business models. Users can trade locally generated energy with the grid as well as third parties, including electric vehicles.
3. How does the settlement occur?
Based on trusted data sources and their signing capabilities, smart contracts orchestrate data and value exchange between multiple parties.
4. How does it actually work?
The RIDDLE&CODE Energy Extension is connected to the Trusted energy Solution enabling automated operations on a variety of ledger systems. This creates a unique Identity for the device and the Trusted energy storage solution. By providing a secure Public-Key-Infrastructure functionality the device brings all the necessary features to turn the Trusted energy storage solution into a wallet, enabling the sending and receiving of funds.
5. How can this solution transform your business?
By combining smart contracts and business logic, the Trusted energy solution powered by RIDDLE&CODE will be able to adapt to the ever-changing needs of local energy communities. Depending on regulatory frameworks, energy storage providers can transition from one-off revenues of battery sales to reoccurring revenues from automated settlements.