University College of Technology Sarawak (UCTS), a Sarawak state government institution in Sibu, Malaysia, is collaborating on a joint pilot project with a consortium of firms to develop the country’s first blockchain-backed solar microgrid energy exchange and trading system.
As reported by The Borneo Post, the announcement was recently made by Vice-Chancellor Prof Datuk Dr Khairuddin Abdul Hamid after the on-campus opening ceremony of UCTS Research Center Symposium & Postgraduate Colloquium 2019.
The project will initially be implemented on a small scale at the UCTS campus as part of the institution’s Smart Campus initiative, with the aim of eventually expanding to all campus buildings and facilities.
The university signed a memorandum of understanding (MoU) with consortium partners Gabungan Binaan Jurutenaga Sdn Bhd, Samdo Smart Solar Sdn Bhd and EPC Blockchain Sdn Bhd.
According to Khairuddin, the project serves as an example of how blockchain and other emerging digital technologies can enable ground-breaking business models for implementing scalable and sustainable green energy solutions.
He also noted that these solutions have applications beyond smart cities, such as meeting the energy needs of Sarawak’s underserved communities.
The UCTS Microgrid Blockchain project currently underway is expected to extend from pilot use cases at the UCTS campus to thousands of microgrid transaction ledger recordings in the near future.
Challenges involving existing revenue models and accumulated knowledge and resources of incumbents will be given special focus, opening opportunities for new approaches of software protocols, data ownership, licensing, auctions and reputation systems.
Both Gabungan Binaan Jurutenaga and Samdo Smart Solar aim to eventually produce a working model for commercial deployment at scale.
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