Energy Blockchain Lab joins Hyperledger, becoming the first energy industry application agency

Today, the Hyperledger Project welcomed the joining of 17 blockchain organizations, among which Energy Blockchain Lab, Taiyi Cloud Technology, and Yunxiang Blockchain are all from China. Energy Blockchain Lab has also become the world's first energy industry application franchise organization of the project.

The Hyperledger project is initiated and managed by the Linux Foundation. The vision of the project is to develop an open, cross-industry, cross-border blockchain technology open source standard with the help of project members and the open source community, and to create cross-industry blockchain solutions. Before this, most blockchain projects in the world had to start from the bottom up. In the absence of implementation standards, there was a lack of collaboration between industries. The goal of the Hyperledger project is to develop a cross-industry open standard and open source code development library that allows companies to create customized distributed ledger solutions to promote the application of blockchain technology in all walks of life.

Hyperledger project members include technology giants such as IBM, Accenture, Intel, and Cisco, as well as financial giants such as JP Morgan, Wells Fargo, and CME; financial industry organizations such as DTCC and SWIFT, as well as star blockchain companies such as R3, DAH, and Blockstream. The list announced this time also includes Samsung's IT service subsidiary Samsung SDS, Quickbooks developer Intuit, and heavy machinery manufacturer Sany Heavy Industry Group Co., Ltd. So far, nearly 100 companies and startups have joined the Hyperledger project.

Regarding joining the Hyperledger project, Zhu Weiqing, COO of Energy Blockchain Lab, said:

"As the world's first and currently the only laboratory dedicated to blockchain technology energy applications, we are very pleased to be a contributor to the Hyperledger project. The laboratory has begun to deploy energy blockchain application demonstration projects overseas. The distributed, intelligent, market-oriented and integrated nature of blockchain technology coincides with the concept of energy Internet. The application of blockchain technology in energy Internet will further promote the implementation of China's energy Internet. Blockchain technology can be used as the underlying technical framework in the five links of the energy Internet value chain, including energy production, energy distribution, energy consumption, energy storage, and energy trading, effectively lowering the technical and commercial barriers to energy application innovation and promoting the establishment of a new ecology. The laboratory hopes to work with major partner companies to jointly realize the lofty ideal of Energy of the people, energy by the people, and energy for the people."

Cao Yin, another initiator of the Energy Blockchain Lab, is also a participant in the China Energy Internet Action Plan and the leader of one of the 13 supporting projects. He revealed,

“In fact, we have been paying attention to blockchain for a long time. We once tried to propose blockchain applications in China’s Energy Internet Action Plan, but the policy was immature at that time. In early 2015, we were called to formulate policies, but the blockchain trend had not yet taken off in China, so we did not get enough support. Since then, I have been thinking about whether we can combine blockchain with energy to deeply solve the many pain points in the energy industry. From this perspective, we can realize the energy revolution and use blockchain as a tool to replace traditional energy with clean energy.”

The Energy Blockchain Laboratory is actually a concept that is promoted from a policy perspective and designed from a professional perspective. Cao Yin said,

"First, we will cooperate with the major competent authorities of China's Energy Internet Action Plan to use blockchain as one of the tools to promote the energy revolution; second, from the application perspective, we will find relevant fields and links to develop blockchain applications from the energy perspective, and then work with many energy enterprise partners to carry out bottom-up blockchain applications. In fact, it is a concept of both top-down and bottom-up co-initiative, a dual-wheel drive, and finally realize the energy revolution with blockchain as a tool."

The Energy Blockchain Laboratory is currently the only R&D company in the world dedicated to realizing the application of blockchain technology in all aspects of the energy industry. It is also developing a number of energy Internet blockchain products. Cao Yin introduced:

"Blockchain technology is not mature yet, and energy applications require long-term thinking and exploration. The laboratory is still in the development stage, and it may produce several application demos around the energy industry, mainly energy IoT applications. We will continue to cooperate with other companies to develop landing applications, including distributed photovoltaics, park electricity sales, electric vehicles, demand response, etc., to carry out an energy revolution in the entire industry chain from five links: production, distribution, consumption, storage, and trading."

About Energy Blockchain Lab

The Energy Blockchain Laboratory is currently committed to the technical research and development and implementation exploration of various energy Internet applications and energy financial applications on the blockchain architecture, which has played a positive role in promoting the rapid implementation and expansion of blockchain technology in the global energy industry.

The lab was founded in May 2016 by three founders with a senior background in energy and finance. The founder, Dr. Lin Le, was the head of the industry team of the Shenzhen Stock Exchange and the director of the energy and environmental protection industry of the listing promotion department. He was seconded to the China Securities Regulatory Commission and CITIC Construction Investment, and has multi-link cross-field experience from research to business, from supervision to market; the founder, Cao Yin, is currently the chief blockchain expert of Cinda Securities and the leader of the "Energy Internet System Support Research" research team of the National Energy Administration. He is an active promoter of the energy Internet and has participated in the naming and definition, policy formulation, and industry promotion of China's energy Internet. The founder, Zhu Weiqing, is a well-known low-carbon business leader. He is also the chairman and CEO of Baotan New Energy and the chairman of the Hong Kong branch of Shanghai Environment and Energy Exchange. He is also a leader in China's carbon finance. He initiated China's first carbon rights pledge financing, China's first carbon rights trust product, and the country's first and currently largest carbon fund.