UPERC approves pilot project on blockchain-based pilot project

The Uttar Pradesh Electricity Regulatory Commission has approved a pilot project for peer-to-peer (P2P) transactions of power from rooftop solar systems using blockchain-based technology. Under this pilot project, the fees for the blockchain technology will be recovered in the aggregate revenue requirement of the concerned distribution licensee. By using blockchain technology, participants will be able to transfer funds, settle trades or vote without seeking the approval of the certifying authority.