TREScity ecosystem applies blockchain technology in collaboration with KBC, a major Belgium bank-insurer. It creates a direct connection with this bank acting as the trusted third party.
The blockchain technology is much more efficient in terms of speed and verification of transactions. No post processing or invoicing is required which reduces transaction costs.
TREScity micro transaction payments are executed ‘immediately’ using a personal e-Wallet. It simplifies payment processes and provides a 100% protection against fraud with no ability to reverse any transaction.
Citizens may benefit from seamless mobility services, full transparency of the availability of chargers and their prices and other services. It decreases the total cost of owning electric vehicles (EVs) and tackle the ‘range anxiety’, which remains among the most limiting factors for EV deployment.
Grid operators may benefit from accessing additional granular data which are of indispensable value when it comes to triggering demand response via price signals capable of ensuring grid stability and optimisation. Through flexibility, grid operators will also have the added benefit of being informed about the power demand situation and forecast in specific nodes of the grid;
