Epixel Solutions has been selected as the technology partner of the National Institute of Technology in developing IoT-based blockchain-powered local energy trading platform.
[Cochin, India] Epixel Solutions Pvt. Ltd. has won an incredible opportunity to team up with the National Institute of Technology Calicut (NIT) to develop one of the mainstream projects for Central Power Research Institute (CPRI) – “Pilot Implementation of Energy Blockchain and P2P Transactive Market”. Epixel will be assisting the Principal Investigators, Dr. Vivek Mohan and Dr. Karthik Thirumala, and the project team of NIT in the development of an energy trading platform with IoT-based blockchain technology.
The project is intended to elevate the current potential of blockchain in transforming small/large-scale energy markets in which energy will replace cryptocurrency. The prime objective of the project is to design and demonstrate blockchain-based peer-to-peer transactive energy markets as a pilot project in the Auroville Community grid.
The project will play a key role in suggesting policies in India for the implementation of blockchain and P2P energy markets. It is highly anticipated that the project will benefit the Indian power sector on the grounds of power quality, optimization, asset and risk management, demand-side management, cybersecurity, IoT, data analytics, dynamic analysis, and investment studies. The application of blockchain technology in the energy sector would be the first of its kind in the country.
The newly developed transactional models will then be built into an android application with a custom-made GUI that would serve as a platform for making smart contracts and agreements. Auroville Consulting, a unit of the non-profit organization Auroville foundation, will also partner with NIT and Epixel Solutions on the project. They will provide IoT-based smart meters and access to the Auroville community grid. They will also be assisting in real-time metering and data logging.
Epixel Solutions Pvt. Ltd. has been making tremendous strides in providing value-based technology solutions to market leaders across diverse domains. The expertise of Epixel in blockchain development for finance and crypto applications will be leveraged to build blockchain-based energy trading applications for the CPRI project. This new project is expected to raise the competency of the brand to deliver advanced technology solutions for a better cause.
Dhanesh Haridas, Chief Technical Officer at Epixel Solutions, expressed great excitement and tremendous hope in receiving this project. “We are immensely proud and extremely grateful to each and every one who helped us achieve this opportunity for Epixel to enter into the emerging renewable energy domain. Blockchain has long been making prodigious contributions to the ways businesses and data are handled in the world today. And now, introducing blockchain into the energy sector will be as exciting and challenging for our team. We consider this our utmost priority and will work to the best of our abilities to develop a one-of-its-kind transactional model that will benefit the country and each one of its citizens at large. This project is sure to make a clear mark in Epixel’s history for years to come. We consider it a great privilege to become an invincible part of such a prestigious project.”