Blockchain adoption in energy sector
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) has become an Affiliate of the Energy Web Foundation (EWF), a global non-profit organization focused on accelerating the adoption of blockchain technology in the energy sector.
In collaboration with more than 50 Affiliates from around the globe, EWF is building and scaling the Energy Web Chain, the first public, open-space blockchain platform tailor-made for the energy sector.
EWF’s charter is to identify, document and assess the most promising use cases of blockchain technology in the energy sector and provide functionalities needed to implement these use cases at scale.
The Energy Web Chain is positioned to become the market standard that ensures interoperability, reduces costs and complexity, aligns currently dispersed blockchain initiatives, and facilitates technology deployment through easy-to-implement solutions.
“We are excited to welcome Wipro into the EWF community and look forward to working closely with Wipro’s blockchain technology experts and energy domain consultants to identify high-impact blockchain use cases and develop enterprise-grade blockchain solutions for customers,” said Jesse Morris, Chief Commercial Officer of EWF.
“Digitalization is one of the mega-trends driving the electricity grid’s transformation and re-making how utilities, grid operators, and others interact with this enormously complex system. Wipro’s core information technology and consulting expertise will be an asset to the EWF ecosystem,” said Morris.
Subbi Lakshmanan, Senior Vice President and Head of Digital for Energy, Resources & Utilities business, Wipro said, “Joining the EWF consortia reflects our commitment to the energy sector and our belief that blockchain and allied technologies such as IoT, Analytics and AI will play a central role in helping the industry embrace the path-breaking move towards a new energy economy, enabled by distributed energy resources. Wipro is excited to be the only technology company in this consortium of some of the most visionary energy organizations in the world.”
Wipro can now leverage EWF’s R&D investments in blockchain technology and thereby gain early access to the overall energy blockchain system, deepen use case research and development, get access to a managed ecosystem of application developers, and utilize EWF’s educational material (regulators and standards) to accelerate blockchain adoption in the energy sector.
Krishnakumar N Menon, Vice President – Service Transformation and Blockchain Theme Leader, Wipro Limited said, “At Wipro, blockchain is a strategic theme with focus on driving transformation at enterprise / industry level by creating new markets, redistributing existing markets and streamlining business processes.
“We are working with global customers to drive blockchain adoption across the globe and help clients build production-grade blockchain networks, creating business value.
“Wipro was positioned in the ‘Winner’s Circle’ of the ‘HfS Blueprint report on Enterprise Blockchain Services 2017’. To help our global clients, we continue to invest in building a comprehensive ecosystem with clients, partners, academia, industry bodies and start-ups. We look forward to actively contributing to the EWF community to accelerate the blockchain adoption in the energy sector,” Menon said. fiinews.com