Epixel Solutions partners with NIT Calicut to develop a blockchain-based energy trading platform

COCHIN, India - Jan. 25, 2023 - PRLog -- Epixel Solutions was chosen as the main technology partner for a CPRI project – "Pilot Implementation of Energy Blockchain and P2P Transactive Market". Epixel will work together with NIT Calicut and Auroville Consulting to develop blockchain-based energy trading platform. The company will work with the Principal Investigators of NIT, Dr. Vivek Mohan and Dr. Karthik Thirumala, and the project team to develop the platform. The project is going to be first-of-its-kind and is sure to transform the energy market in India.

The CPRI project "Pilot Implementation of Energy Blockchain and P2P Transactive Market" is expected to revolutionize the Indian energy market with its potential to change the scope of small and large scale energy markets. It is intended to design and demonstrate blockchain-based peer-to-peer transactive energy markets as a pilot project in the Auroville Community grid. The project will undoubtedly benefit the Indian power sector in the domains of power quality, optimization, asset and risk management, demand-side management, cybersecurity, IoT, data analytics, dynamic analysis, and investment studies.

The technical expertise of Epixel in developing blockchain-based applications in finance and crypto-based applications will be used to develop this innovative platform. The newly developed trading platform will be similar to other trading platforms with the trading element being energy as opposed to currency, stocks, or other entities. An android application will be built based on this transactional model with a custom-made GUI which would help generate smart contracts and agreements. Auroville Consulting, a division of the famous NGO – Auroville Foundation, will provide Epixel with IoT-based smart meters and special access to the Auroville Community grid. They will assist Epixel in real-time metering and data logging.

Dhanesh Haridas, Chief Technical Officer at Epixel Solutions(https://www.epixelsolutions.com ), is highly hopeful about the project being a great opportunity in their brand's history. "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.