Exploring the benefits of blockchain technology to maximise data and transaction protection, and enable new potential business models: that’s how Paolo Rossi, director at Azienda Elettrica di Massagno (AEM), explains what is being implemented in Ticino Canton.
AEM is a small, but highly innovative utility located in the southern part of Switzerland. It supplies power to roughly 10’000 end users (mainly households) in Massagno, Capriasca and Isone, managing a low/medium voltage grid and a substation connected with the high tension grid. A 4 MW capacity hydro power plant allows AEM to generate additional power from renewable sources and better balance the grid.
Leveraging Paradox Engineering’s network platform, back in 2017 AEM developed a Smart Grid to connect smart meters and start collecting data from energy-consuming field devices, while enabling remote control. Data are transported via the Wireless IoT and Wireless Highspeed IoT network to a central management unit, where an AI-based algorithm performs advanced analysis over power consumption and load profiles, and provides forecasts about energy demand in the following 24 hours together with recommended actions for adequate grid balance.
“Our customers and stakeholders trust AEM as long as we grant continuity of service and stability of power supply. Smart technologies are supporting us in looking after the efficiency and quality of our business, and the introduction of blockchain is bringing us one step forward“, says Paolo Rossi.
AEM is now piloting blockchain to improve data validation over the network – this is a first step, paving the way for future extension and possible applications to monetise the value of device-generated data. “We might want to use blockchain to enhance smart contracts, trade power consumption data, design new services for end users, or even accelerate the transition towards electric mobility“, adds Rossi.
Blockchain can really change the game for Smart Utilities and Smart Cities: learn more about how it can minimise cybersecurity risks and enable promising data-driven business models by listening to our webinar (available on demand, free registration required). Contact us for any further information.