data

How harnessing data can make your connected assets work for you

Organisations across the power sector have always known their assets were valuable, but transformations in technology now mean they can deliver rich rewards that were unimaginable just a few years ago. Assets are no longer simply to be ‘managed’; they can provide an integrated holistic dataset, enabling more efficient and effective decision making, and a safer distribution network.

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Going digital: the hidden wealth of grids

The energy supply mix in the UK has steadily changed over the last decade and the ever evolving decentralised landscape is presenting new challenges for network operators. With consumption patterns anticipated to significantly change in response to the electrification of heat and transport, combining key industry drivers and initiatives with digitalisation will play an important role within this sector.

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Examining blockchain

A blockchain is a decentralised data-ledger technology. That is, there is no central database, rather databases are held by multiple computers, each with an identical copy of the data. The system is maintained by a network of computers, in which successive data (in blocks of records) are first validated through a network consensus approach, and then added to the ledger. Each block in the chain contains a set of transactions represented by a hexadecimal ‘fingerprint’ known as a ‘hash’. This hash is passed on to the next block, thus creating the chain of blocks (see Figure 1 below). This enables computers on the network to easily verify whether any data in a block has been tampered with since altering the data within a block would affect its hash. The computers (called ‘nodes’) that participate in the network receive a complete copy of the blockchain, and stand as proof of every transaction ever executed on that particular system. The mutually validating network of nodes protect the coherence and integrity of the network and in doing so, avoid the need to use intermediaries to centralise all the data.

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