How Blok-Z and PegaSys are Accelerating the Digital Transformation of the Energy Industry
In the last post of this series, we highlighted DNAtix, an Official PegaSys Partner and Israeli-based startup doing exciting work with digital genetics and enterprise Ethereum. This time we’re excited to talk about one of our newest partners, Blok-Z.
Who They Are
Founded by Selim Satici (CEO), Erhan Yildirm (COO), and Mohamed Abdulaziz (CTO), Blok-Z is an energy software provider based in Germany and Turkey. The company was founded in 2018 to help accelerate the digital transformation of the energy industry using blockchain technology. Blok-Z specializes in delivering enterprise-grade blockchain solutions that will foster the growth of a distributed, decentralized and carbon-free energy sector, and is a proud member (and the only energy software company) of the ConsenSys Tachyon Accelerator program.
What They Do
Blok-Z’s vision is to become one of the leading middleware software providers for the energy industry. The company is building a suite of energy data management tools leveraging blockchain technology that can help distribution system operators and energy providers track renewable energy, source flexibilities through demand-side response, provide ancillary services, and services for collective self-consumption. Blok-Z also allows electricity providers to create new digital energy services, generate new revenue streams, acquire new customers and track the origin of renewable energy.
The current lack of transparency in energy trading results in consumers not being satisfied due to insufficient information on the energy source or price. However, most energy companies lack the required IT expertise to solve these problems. Energy companies need to rapidly innovate in order to adapt to the changing landscape and remain competitive. Here’s where Blok-Z comes in.
GreenLink, Blok-Z’s white-label solution, is a next-generation sustainability monitoring, reporting and verification blockchain-powered platform that can transparently verify the origin of energy in real-time. Their middleware, GreenLink, adds an additional transparency layer to existing renewable energy tracking systems and works by retrieving meter data from distribution system operators and/or national registry data. Using the blockchain, GreenLink guarantees that energy generation and consumption are matched in real-time with no risk of double-counting.
With GreenLink, energy retailers will be able to offer their customers truly sustainable and individualized green products. Customers of energy retailers using GreenLink will be able to select renewable sources based on location and type, trace the origin of their energy in real-time, and have access to automated sustainability tools. The software provides lower operational costs, automated back-office processes, greater choice for energy customers, increased transparency, and higher trust in green services offered by energy providers.
Case Study - Borusan EnBW
In the first quarter of 2019, Blok-Z successfully completed a proof-of-concept with Borusan EnBW, a German-Turkish joint venture with a 100% renewable energy portfolio of 1200 MW, using blockchain technology. Borusan EnBW had been looking to explore alternative revenue streams through the real-time origination of local renewable energy, and found a perfect match with Blok-Z. Borusan EnBW is continuing to work with Blok-Z to build the foundations for a nationwide renewable energy tracking blockchain platform. Using this platform, Borusan EnBW, other producers, utilities and retailers can create a new layer of value for the energy they produce, and offer fast and automated sustainability services to their customers.
“The energy industry is undergoing a monumental shift to more digitized, deregulated, decarbonized, democratized and decentralized energy production and distribution. To remain competitive, energy companies are increasingly aware of the need to go beyond selling commodities and are looking to disrupt existing business models and to unlock completely new digital energy services for their customers. To do so, energy companies need to share their business data and processes privately and securely. That is why we are thrilled to partner with PegaSys and work with Hyperledger Besu which was designed to be scalable, and have features such as permissioning, private transaction management, and advanced monitoring right out of the gate. Blok-Z could not have chosen a better partner to ensure that our white-label offerings comply with the strictest privacy and security requirements while accelerating innovation for our customers.”- Co-founder and CTO of Blok-Z, Mohamed Abdulaziz
As a member of the PegaSys Partner Program, Blok-Z gains access to special technical content, close collaboration with the PegaSys team, and the latest news on PegaSys' work in Enterprise Ethereum.
At PegaSys, our team of 70 heavily prioritizes users and customers that are aiming for production. We bring a major commitment to work with those teams that are doing more than just a POC, and offer production support for teams ready to go live.
Interested in becoming a PegaSys Partner? Please get in touch.