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Russian scientists will develop a «smart» blockchain-based platform for the electric power industry

The project to create an innovative blockchain-based platform that captures data on electricity production and consumption and issues invoices automatically has become a participant of the Power & Energy track at the GenerationS startup accelerator of the Russian Venture Company (RVC). The technology will eliminate the need for intermediaries and help to forgo the use of paper receipts, the press service of the Ural Federal University (UrFU), a partner of the accelerator, said on Wednesday.
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«The Russian scientists are developing a «smart» blockchain-based platform for management of electric power supply and distribution. The platform reduces electricity consumption, records data on the volumes of its production and consumption, automatically issues invoices for electricity consumption, etc. The project has already passed several stages of expert selection and became one of the participants in the accelerating programme Power & Energy track at the startup accelerator GenerationS of RVC, «— said the statement.

The technology will help consumers to pay electricity automatically, without filling in receipts and online forms, the press service of the UrFU explained.

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