Electron, a company looking to develop blockchain-based systems for the energy market, has appointed ex-npower boss Paul Massara to its board.
The London-based start-up is aiming to bring to market blockchain-based technologies which can be a part of more efficient and flexible systems for the energy sector.
It intends to design platforms which allow the industry to embrace distributed generation and storage technologies whilst also streamlining registration and client management.
Electron CEO Paul Ellis welcomed Massara, who also served on Centrica’s executive committee, stating his ability to bring “invaluable industry and business experience” to the firm.
“This is also a testament to the growing recognition within the energy industry of the opportunity afforded by blockchains to speed innovation and cut costs. Both of which will be good news to consumers,” he said.
Massara meanwhile said it was clear that blockchain will disrupt the energy market, of which he expects Electron to become a major player.
Late last year Electron said it had developed a blockchain-powered registration platform for electricity and gas meters which claimed to be capable of shortening the average time needed to switch supplier from 17 days to minutes.
