WHY BLOCKCHAIN?

Blockchain technology is one of the most promising technologies for setting up secure, decentralized IT systems and infrastructures. The change in energy supply towards renewable energies, calls for the setup of decentralized structures. The application possibilities of distributed ledger technologies (DLT) are manifold and enable completely new exchange relationships between unknown actors.

GPC sees DLT as an opportunity to further democratize the energy market and to allow more and more people to benefit from the participation in the energy business. The platform structure of GPC is thus essential for systematically lowering the market entry barriers especially for private households. 

The advantages of the blockchain technology include, above all, the creation of transparency, security against manipulation, disintermediation, enhanced IT security and decentralization.

Decentralization

A typical cloud server is hosted locally, while managed from a central point. On the blockchain, this task is distributed to all nodes in the ecosystem, resulting in a significantly higher level of data security. In the event of an external attack, the attacker would have to hack not just one central point, but more than half of all nodes in the entire network. This security is guaranteed even in the event of an internal attack by a participant.

Transparency

Blockchain offers a level of transparency that has never been attained before. Each participant has the same insight and can fully trace every transaction. Comprehensive market transparency strengthens the position of the consumers, prevents greenwashing and gives an opportunity to make sound purchasing decisions.

Tamper-proof

Cryptographic linking of blocks into a chain prevents information from being tampered with after it has been transmitted to the blockchain. The distributed nature of data storage also allows mutual monitoring by participating actors.

Disintermediation

Blockchain technology allows 6 decentralized transactions to be processed directly between users without an intermediary. An underlying consensus mechanism defines how to check transactions on the network and how to always generate a consensus on the validity of transactions between all network participants.

Enhanced security

The basic architecture of DLT is built upon a modern form of asymmetric cryptography, ensuring a high level of security. Public and private keys are used as a basis to allow users to own an address and its associated assets. An address is often associated with other meta-information and builds up the digital identity of individuals. The same principle applies to assets such as a renewable energy asset represented on the blockchain.

Have Questions? We are Here to Help You!

Solar Empowerment

Energy is fundamental to us all, and finding ways to secure green clean electricity is now a priority for many organizations. At GPC we use agile markets underpinned by blockchain technology to help fulfil these needs.

Our platform creates a community of electrical prosumers, i.e. producers and consumers who comprise the growing distributed grid. In this new world there are benefits for everyone.

Whether you are a property developer, an electricity retailer, community member or a network operator, we have a solution for you: