Blockchain technology is designed by nature to be “unhackable.” The technology consists of a continuously growing list of ‘blocks’ – each containing a data record, timestamp, or data from a transaction – on a network chain that is distributed, public and encrypted. This design enables a system that allows for information to be digitally distributed without being copied or vulnerable to modification by a hacker. Blockchain is the foundational technology that enables the now famous bitcoin to function. But, the technology has much greater applications than just finance, with many experts believing it will be revolutionary for the energy sector.
This webcast will give an overview of blockchain technology and its core components, discussing the opportunities and applications for blockchain technology within the energy industry. It will discuss how blockchain could improve and/or replace existing systems and processes relevant to electric utilities, enable peer to peer “transactive” energy markets, and help lead the way in enabling a resilient, distributed energy grid of the future.
- Define the fundamental components and operational processes of blockchain technology
- Define “smart contracts” and “smart legal contracts,” and how they work in conjunction with blockchain technology
- Review the state of the blockchain market, current industry uses, and future opportunities
- Identify how blockchain is being applied in the energy industry
- Blockchain Technology Overview
- Blockchain vs. Bitcoin
- Core components
- Smart contracts
- Applications of core features
- Eliminating the need for the middle man?
- Potential and Current Industry Applications of Blockchain Technology
- Opportunities for Blockchain Technology in the Energy Industry
- Cryptocurrencies as a means for paying electricity bills
- Trading energy via smart contracts
- Tracking renewable attributes & emissions
- Transactive energy systems/peer to peer energy markets
- Distributed energy resource applications
- Improving existing systems
- Utility billing
- Demand response programs
- Wholesale energy trading
- Electric Vehicle charging applications
- Smart energy infrastructure
- Policy and Regulatory Regimes that would Enable Blockchain in the Energy Sector
- Use Cases of Blockchain Technology in the Energy Industry
BUCK ENDEMANN/ PARTNER/ K&L GATES
Buck Endemann is a partner in the San Francisco office of K&L Gates, a global full-service law firm. Buck is a member of the power practice group and provides comprehensive counseling on energy and infrastructure projects, including advice on land use, permitting, and regulatory compliance issues, and represents clients in related litigation and administrative proceedings. Mr. Endemann has particular expertise before the California Public Utilities Commission, California Energy Commission, and advises clients on California Independent System Operator (CAISO) issues. He is also well-versed in the primary federal and state environmental, water, and species protection laws and represents clients before California’s air districts and water boards. He is the co-author of the firm’s bi-weekly Blockchain Energizer. Before entering private practice, Buck Endemann clerked for U.S. District Court Judge Thomas J. Whelan in the Southern District of California.
BENJAMIN TEJBLUM/ ASSOCIATE/ K&L GATES
Benjamin Tejblum is an associate in the K&L Gate’s Washington, D.C. office and focuses his practice on energy and infrastructure projects and transactions. Mr. Tejblum’s clients include electric utilities, electric transmission owners, independent power producers, power marketers, and public utility holding companies that are active in the electricity markets in the United States. Mr. Tejblum regularly represents clients before the Federal Energy Regulatory Commission and has counseled clients on matters involving mergers and acquisitions, interconnection procedures and agreements, transmission rates and cost allocation, and market-based sales of energy. Mr. Tejblum also counsels energy start-up companies on a variety of regulatory matters.