Queensland Company HydroREC to Offer Blockchain Certifications for Renewable Energy

July 22, 2021, 10:45 AM AEST - 1 week ago

An Australian company based in Brisbane has been established to provide blockchain-enabled certification of green hydrogen projects.

HydroREC will develop solutions that help the green hydrogen industry independently validate claims about the origin and qualities of its products, to ensure people can be confident they’re buying or investing in hydrogen made using renewable energy. 

HydroREC’s solutions will be deployed on blockchain infrastructure from Smart Trade Networks, which is also a founding shareholder of the company.

Key Concerns for Green Hydrogen

According to Smart Trade Networks, fraudulent credentials, international incompatibility and duplicate selling are key concerns for green hydrogen, requiring greater transparency. They argue:

There is a crying need for global standards for credentials in this space, and for the credentialing processes and supporting claims, evidence and documents to be registered in a secure, transparent and publicly accessible data environment.

Smart Trade Networks, founding shareholder of HydroREC

HydroREC’s team has extensive experience in both renewable energy and technology systems. The company recently became a founding partner of the Zero Carbon Certification Scheme run by the Smart Energy Council – a peak body for the solar, storage, and smart energy sector.

The industry-led scheme will track green hydrogen product quality and the greenhouse gas emissions associated with its production.

Energy Space Ripe for Crypto and Blockchain Solutions

Renewable energy and emerging technologies appear to be a great match:

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.