The China Energy Administration (CEA) has announced plans to adopt blockchain technology in promoting energy trading.
This innovation, according to the CEA will involve self-contained power generation units and state and national networks.
The use of blockchain-based power trading platforms, according to the CEA will engage small and medium-sized power generating and storage facilities serving local communities.
The CEA, which works under the National Development and Reform Commission (NDRC), is responsible for drafting energy policy.
In a policy paper published last week, the CEA said “The Plan for Deepening the Reform of “Decentralization, Management, and Services” and Optimizing the Division of Key Tasks in the Business Environment in 2022 has been deliberated and adopted by the Leading Group for Comprehensively Deepening Reform and Promoting Functional Transformation of the National Energy Administration.”
