China releases standard for blockchain based electricity trading and consumption accounting

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  • China’s Blockchain-Based Green Electricity Logo Application Standard has been approved for release by the country’s Institute of Electrical and Electronics Engineers (IEEE) paving the way for the country’s green electricity trading and consumption accounting.
  • The standard provides internationally accepted and socially acceptable green power label certification services based on the blockchain for multinational enterprises and foreign trade enterprises.

The IEEE said that will gradually expand the influence of blockchain technology standards in the international energy green and low-carbon business field based on the implementation of the “double carbon” goal and the construction of new power systems, and accelerate the seizure of energy zones. Blockchain is the highland of international standards, contributing “China’s solution” to the green development and digital transformation of the global energy industry.

Author: Bryan Groenendaal


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