How Spain’s Iberdrola is using blockchain tech to push renewable energy

Tech 15-1-2019 The Next Web 34

Iberdrola, one of Spain’s main energy companies, has completed a blockchain pilot to track renewable energy more accurately than it ever could before – resulting in losses being slashed in half. The trial was carried out in cooperation with Kutxabank, a bank with an equity shareholding in Iberdrola. The energy giant used the Energy Web Foundation, an open-sourced and scalable blockchain solution to monitor the renewable energy delivered from two wind farms and one power station to the bank’s offices in the Basque Country and in Cordoba. Iberdrola noted that this new system helped it save millions in resources: This innovation…

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