Multiledgers has already participated in a renewable certificate project.
Multiledgers won the competition that Furnas launched last year for contracting blockchain services. Thus, the startup will support electric to create a multi-framework blockchain sandbox, that is, for a testing hub for solutions in this technology. This is unprecedented, according to the company. The contract is worth R$7.9 million.
Furnas has relied on blockchain in different initiatives. When announcing the bidding, the electric company said it hoped to develop an ecosystem for process control, transparency, reliability and auditability. According to the Information Technology Superintendent of Furnas, Marcelo Piñeiro, the sandbox is a new way of doing business and creating solutions collaboratively in shared environments.
One of the first results of the sandbox studies was RECFY, a platform for issuing and trading renewable energy certificates developed using distributed ledger technology (DLT). The launch took place in 2021 and the objective is to offer the service to the entire market, as an alternative to the international platform I-RECs. Last month, Furnas already auctioned RECFY certificates.
According to Marcela Gonçalves, CEO of Multiledgers, “the first step has been taken and fortunately we are positioned at the forefront of this movement. Several certificates and environmental assets from the energy sector, such as renewable energy certificates and carbon credits, will soon be traveling through decentralized ecosystems. The tokenization of other assets in the sector is just a matter of time.”
Multiledgers worked on Furnas renewable certificates project
At RECFY, Multiledgers acted through its Innovation Support Program, which brought together the main blockchain players active in the national market. Thus, in addition to Multiledgers, R3, which created the Corda solution, and the startup BBChain participated. R3 and BBchain transferred knowledge and validated the solution built by the technical team of the Eletrobrás subsidiary. They also helped in the implementation of the platform, which will be able to scale.
“The formation of a blockchain ecosystem for the electricity sector will bring together generators, transmitters, distributors, traders and regulatory bodies,” said Henrique Klier, commercial director at Multiledgers. According to him, the ecosystem tends to bring unprecedented facilities to the relationships between players, generating new business models.
THE multiledgers has been in the market since 2019. Its activities include being a Central Bank partner in the Laboratory of Financial and Technological Innovations (LIFT) and in the LACChain network, an initiative of the Inter-American Development Bank (IDB). In addition, it participates in national and international study groups such as the CT-Blockchain, the National Education and Research Network (RNP) and the standardization sector of the International Telecommunications Union (ITU-T).
Furnas is in the generation, generation, transmission and commercialization of electric energy, operating in 15 states and the Federal District. In total, there are 21 hydroelectric plants, two thermoelectric plants and a wind farm, owned by the company or in partnership with the private sector. In transmission, it has about 35 thousand kilometers of lines and 72 substations.