EfiChain: Blockchain for more efficient energy use

Although blockchain technologies were already expanding in the banking sector, their use in other fields, such as energy, was at an early stage. EfiChain, framed within the Andalusia Innovation Strategy 2020, investigated the implementation of blockchain in real market applications within the smart city field, with a social component aimed at alleviating energy poverty.

The project's objectives were to:

• Create a new business model aimed at positively influencing citizens' behavior in promoting energy efficiency.
• Develop a collaborative system based on blockchain technologies that would connect energy consumers, distribution companies, public institutions, and multisector companies.
• Help alleviate energy poverty among disadvantaged groups through the donation of tokens convertible into free energy.

EfiChain was structured around the following areas:

• Gamification of energy saving: comparative analysis of actual consumption, linked to a system of challenges and a distribution of points based on the monthly savings achieved.
• Tokenization through blockchain: valuation, management, and conversion of points into rewards through smart contracts, tokens, and a distributed application (DApp), aimed at individual consumers, local businesses, social aid organizations, and public administrations.

Magtel had the collaboration of CTIC, which focused on developing the distributed application (DApp) that allowed the different user profiles to manage and carry out transactions with the tokens earned through their good energy-saving practices.