Bureau Veritas, Engie and the CEA assure the traceability of green energy thanks to blockchain
Jan. 7 2021
Bureau Veritas and the CEA execute the first validation of smart contracts by formal proof for the digital solution of the startup ENGIE TEO (The Energy Origin), reinforcing clients’ confidence on the origin of their green energy.
Incubated by ENGIE, the internal startup TEO (The Energy Origin) allows companies and local authorities to embark on the path of green energy consumption.
The TEO solution depends upon blockchain, and more specifically upon the execution of smart contracts, irrevocable information programs that execute a number of predefined instructions.
ENGIE has partnered with Bureau Veritas and the Alternative Energies and Atomic Energy Commission (CEA), a French public research body, to conduct an audit of the solution and validate the precision of the processes and calculations generated by TEO. Bureau Veritas validated the methodology used by the CEA and verified its corresponding execution by TEO. The three partners thus demonstrated how smart contracts developed by TEO allow ENGIE clients to establish traceability of the green energy consumed.