Business objective behind EDIchain
Blockchains are a great tool to find a common consensus for transactions that require it. Fully automated energy markets are a brilliant example where a missing consensus requires a lot of overhead (software,communication, audits,...) in order to ensure a minimum level of compliance of all market players. EDIFACT (and esp. EDIFACT Energy) provides a standard language for Electronic Data Interchange but is missing a automated process layer and rules engine for communication. Historically this got provided by closed communication systems like X.400 or OFTP - today some systems are using S/MIME encoded mails...
Weakness of EDIFACT:
- Closed communication only between partners
- Message exchange need to be archived, stored
- Errors in automatic processing require manual rework
- Does not scale to a mass market (eq. opening energy trading to citizens or establishing a Peer-2-Peer power trading)
How EDIchain addresses this:
- Consensus available to all market members that a certain message got send from A to B. Content stays encrypted.
- Message exchange itself (Metadata) is stored in blockchain and mined into the blocks
- Errors in communication can be resumed by using IPFS to distibute encoded messages via a P2P network layer
- Scales up as MetaData Exchange (Blockchain) and Content Exchange (IPFS) operate on any subsection of the universe
You might checkout my German blog about Smart Grids and Energy Markets on https://blog.stromhaltig.de/ most of the architecture thoughts are covered somewhere in my posts