Utility Week

UTILITY WEEK | 29TH JUNE - 5TH JULY 2018 | 23 Operations &Assets Views from the room 1. Blockchain has huge potential to transform the way utility companies work, but decision- makers are often put off by the negative perception of the technology, fuelled by the media. 2. Blockchain is different from cryp- tocurrencies such as Bitcoin, but is often tarred with the same brush. 3. Blockchain will not hit the main- stream for five years or more, but new markets such as water retail could benefit much sooner. 4. Blockchain can be used to dramati- cally improve sys- tems and processes and, therefore, transform customer service. 5. In an age of decentralised sys- tems and the shift from consumers to "prosumers", block- chain will be a vital tool. Key takeaways Neil Pennington, advisory board member, ID2020 Summit "The biggest risk to full-scale adoption will be interoperabil- ity; companies work- ing in silos, building chains that do not work together to allow full participation from all customers in the energy market." James McDonagh, technical architect, Electralink "A number of our senior management team see blockchain as an existential threat. I don't see it as an existential threat, I see it as the next level of technology." Muneeb Iqbal Shah, lead consultant, Wipro "Most of our custom- ers are looking at blockchain because somebody else is looking at it. There is this competitive pres- sure in terms of being abreast with what's new in the market." Nick Rutherford, digital strategy committee chair, MOSL "We think there's an opportunity with blockchain to bring other actors into the marketplace. Maybe we could bring in some debt manage- ment organisations to procure debt as part of the switching process." Ana Trbovich, foundation council member, Energy Web Foundation and chief operating officer, Grid Singularity "Regulators, when they learn about blockchain, love it. They realise they will be able to observe the market automatically, and may even become a validating node in the future." The Utility Week-Wipro Technology and Innovation Council is a forum for networking and ideas-sharing. It meets for face-to-face debates and workshops and approves the focus for bespoke research. For 2018, the council's research project will explore innovation and technology adoption strategies in UK utilities, with questions focusing on three themes: leadership and investment; culture and process; and technology strategy. DOWNLOAD Read more about how Energy Web Foundation, Electron and Verv are developing blockchain for businesses in the in-depth report Blockchain – Applications and Priorities for the UK Energy System. Available free to Utility Week members at: https://bit.ly/2MMrrLo

• Cover