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Elering AS, WePower launch blockchain energy pilot in Estonia

Elering AS, an Estonian independent electricity and gas system operator, and blockchain-based green energy startup WePower have announced a pilot project to test the large scale tokenization of energy data on the blockchain in Estonia.

The first-of-its-kind project will use anonymized data to simulate and demonstrate what the future of blockchain-based energy trading might look in Europe. It will further make way for a future practical test that will connect European green energy producers to the Estonian Smart Grid, the release stated.


“We are thrilled to announce our partnership with Elering AS,” said Nick Martyniuk, Co-Founder and CEO of WePower, “as it is the first step in our goals of making the smart grid greener. Estonia is the perfect country to start with, as it already has an existing advanced smart grid infrastructure that we can integrate out technology into. This partnership is an excellent use-case to show the viability of blockchain technology in the green energy space, and marks a huge achievement towards creating a global blockchain powered energy trading network.”

For the project, WePower will integrate its blockchain and smart contract powered green energy trading platform into Elering’s Estfeed data exchange platform. This will form a proof-of-concept system for Estonia, demonstrating nation-state scale tokenization of energy consumption and production data on the blockchain.

According to the official release, WePower will be leveraging Estonia’s existing advanced smart grid infrastructure, particularly the 100% smart meter coverage with hourly reading and a central data hub. It said that these are the ideal technical conditions to test the true scalability of tokenized asset trading technology and provide a stronger bridge between green energy producers and traditional grid operators.

“Elering’s motivation in this project as a transmission system operator is to enable energy innovation by removing market barriers. For that purpose we have built the Estfeed data exchange platform, which enables people to share their energy meter data with new service providers. WePower is a great example of the potential of innovation in the energy sector that can be unleashed by transparent data access,” said Taavi Veskimägi, CEO of Elering.

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