Energy Eco Chain Re-energizes The World Of Energy With Blockchain

With an aim to swiftly integrate the headlonging evolution of blockchain to advance the energy sector, Energy Eco Chain (EEC) held its inaugural seminar in Singapore on Sunday, 28 January 2018, to introduce its cutting-edge platform for energy supply chain finance and payment services for decentralized energy products trading.

At the event, EEC also shared their 2018 action plan, and announced their upcoming co-operation projects with Papua New Guinea, APEC 2018 and Batam, Indonesia.

Energy Eco Chain (EEC) revolutionizes the energy sector in the following three ways:
(1) creating an energy supply chain finance platform,
(2) allowing for fast and convenient trading of digitalized energy products, and
(3) lowering the cost of energy for buyers, through efficient payment and settlement solutions via the smart grid.

Tony Huang, COO, Energy Eco Chain Foundation, said, "We want to enhance the usefulness of blockchain technology as an enterprise-level solution to create a digital energy economic ecosystem, with a humble goal of optimizing the energy supply chain to be dynamic and secure."

The energy trading platform is powered through the digitalization of energy product, and uses fundamental energy blockchain built from public, consortium chains to expeditiously drive energy consumption, as well as a digital energy economy system capable of sustained development and compatibility.

Developed based on distributive databases, EEC's core potential lies in its high efficiency, transparency and safety. This makes it especially suitable for contemporary energy networks, which have a multitude of nodes, large data volumes, and a vast variety of data. This also allows for the creation of a more stable and swift payment solution to all the participants, including energy producers and consumers.

The EEC hybrid blockchain exists in a fully permissioned environment that connects the public blockchain with a private blockchain implementation, circumventing the fallibilities of the public blockchain by protecting sensitive financial data and allowing safer access for data auditability. The smart-grid technology also allows for two-way communication between energy buyers and suppliers, allowing for an efficient production-consumption match and eventually, access to lower costs and sustainable use of electricity.