Globally investment in blockchain technology is expected to reach $34.7 billion by 2025 as per a report by Premium Market Insights (PMI).
Given the expanding use cases of the technology in the energy sector the steady increase in investment isn’t surprising. The technology offers breakthrough solutions to make lives easier, reduce cost, add transparency, and preserve privacy and maintain confidentiality between parties wherever required in the industry. Blockchain is proving itself to be a game changer for the energy markets.
Among many applications of blockchain technology, energy sector isn’t recognized so easily. Contrarily, blockchain has proven transformative for the sector. Ethereum Enterprise blockchain, can accelerate growth in energy sector with the help of smart contracts and system interoperability. The technology stands as a new medium of growth for the industry. The use of blockchain technology has led to growth of new business models in the energy market. Application of the technology also include real-time data management and moving carbon credits or renewable energy certificates onto blockchain.
Use-cases of blockchain technology in the energy sector
The World Economic Forum, Stanford Woods Institute, and PwC have outlined 65 ways in which the technology is helping the energy market.
1. Improve efficiency: DLT (Distributed Ledger Technology) can improve the efficiency for utility providers by tracking the chain of custody for grid materials. Complex systems like petroleum trade that require participation of multiple stakeholders – refiners, jobbers, governments and regulatory bodies – can reduce cost associated with the complex process and reduce process in efficiency.
3. Safeguard privacy and trade secrets in oil and gas sector: Private blockchain networks offer data per missioning and selective consortium access to pre-approved parties
4. Peer-to-peer energy trading: A peer-to-peer energy market where individuals can share their excess energy with one another is on the rise. It’s an expanding market and nearly 59% of blockchain companies are dedicated to it.
5. Electricity wholesale distribution – Retailers have been found to be the source of inefficiency in consumer electricity market. They own very small percentage of grid infrastructure. Typically, they are involved in billing and metering. These are services which can be easily resolved with blockchain. Using blockchain along with IoT devices allows consumers to buy electricity directly from grid.
5. Electricity Data Management: Blockchain will allow consumers greater control over their electricity usage. Electricity usage data is often misreported due accidental clerical errors or intentional corruption. In all cases – intentional or accidental error, the financial cost is detrimental to business. Blockchain-based application will allow consumers to access real-time data usage. Additionally, transparency will reduce monetary exploitation.
- Cost reduction in oil and gas – Oil and gas industry has a complex trading system. With blockchain-based systems in place, the industry can reduce cost associated with maintenance of various trading systems. It can also reduce cost associated with labor, data management, and inter-system communication. In a demonstration conducted by BTL Group, ENI, BP, and Wein Energie reduced cost by 30-40% in facilitating and tracking gas trades with the help of blockchain technology.
Blockchain in action in energy sector
Some organizations that are already in this area are:
- Power Ledger: This Australian company along with French green energy retailer ekWateur plans to offer French residents the opportunity to customize their energy mix using blockchain technology. Power Ledger plans to do so by creating microgrids – a group of interconnected loads and energy resources. In theory, microgrids are separate and self-sustaining. Many blockchain energy companies feel microgrids are the future of energy consumption.
- VeChain: VeChain is collaborating with Shanghai to optimize business processes, reduce operation costs, improve the supply chain efficiency in the energy sector. And ultimately be able to build and offer “Energy-as-a-service” ecosystem.
- Grid+is a New York-based blockchain energy company focusing on wholesale energy distribution.
Integration server and web methods – connecting businesses across the globe
The whole business environment and the network is becoming complex day by day. To retain in the industry business has to strive by providing proper value to the consumers and there must be a proper balance between processes and the products of the business. In the cutthroat competition, this concept has become very difficult but the enterprises have to ensure that all the processes and networks are connected to the business and this can be done with the help of integration server in web methods. Maintenance of this platform will help in ensuring consistency and will make sure that all the goals are achieved effectively and efficiently. This invention and introduction have been highly helpful throughout the whole process.
The web methods can be described as the cloud-related platforms that will help in providing integration services to the businesses so that all the activities of the businesses are integrated and coordinated all the time. The whole data will be stored on the cloud-related systems and can be accessed at any time of the whole day. The related parties like suppliers and middlemen will have proper access to the information and there will be no need to have any kind of authorization. There are several benefits which the platform provides and which turn out to be the reasons behind its success.
Some of the most important services provided by the system have been mentioned as follows:
-It helps in providing services based upon the cloud-related systems: This is the most important service provided by the web integration systems. Web methods help to provide cloud-related services to the business enterprises that will allow them to have a backup of the data which can be accessed by anybody at any point of time.
-It helps in automatically updating the information: The web methods with the help of artificial intelligence will help in automatically updating all the information on the cloud platform. Ultimately it will help in decreasing the chances of errors and will increase the efficiency of the overall process.
-It will help in creating a great network: The implementation of this concept will allow the businesses to be prepared with the shift from traditional setups to the modern ones. It will also ensure that all the cloud-based systems can be accessed by the authorized people at any point of time and from anywhere.
-It will help in providing cloud-related ready application solutions: The web methods integration platform will also help to provide applications which are cloud-ready. It will also help to serve all the needs of the consumers and such products can be marketed very easily for sale.
Introduction of web methods integration systems will also help to ensure that all the processes and applications are integrated all the time and help to provide the best quality services. Apart from this the web methods integration server also helps to provide time to time upgrades so that all the bug fixes are dealt very easily and application is kept all the time up to date.
The Use Of A Rotary Moulding Machine!
The rotary moulding machine is indeed a soft biscuit formation system with novel idea architecture. All the elements, gestures, devices, and their external appearance have also been refurbished. It was developed to reduce its total size with the subsequent benefit of facilitating washing, roller shift, modification, feeding, and product vision test operations.
Rotary molded biscuits being made basically from some kind of soft dough, varying from thinly sandwiched items to all forms of shortcuts to shortbreads and even those recognizable lines which, while their names were engraved throughout the biscuit face and therefore not embossed in detail, are simply soft dough biscuits.
The castellated pressing roll (1) removes the kibbled dough first from the hopper and forces it onto the moulding roll (2) so complete the outlines of the etched moulding roll. The remover knife working upon this molding roll surface extracts surplus dough and can then be transferred to just the hopper by adhering to the sheet of obligation in the shape of a “blanket.”A rubber-coated roll (3) presses the woven unending removal platform against the molding roll as well as extracts the dough chunks from the gravure impressions throughout the molding roll. The removal web ends in a “nose bit” which allows the dough chunks to be moved to the reverbed web and, from there to the oven band.
For the structure, design, and better surface, as well as the form of dough quality, all the dies mostly on rotary molding sheet, must be regarded on one’s terms.
A rotary molder’s control systems roles benefit from such a controlled configuration of the input values, which is the distance between the pressing and molding sheets, the positioning of the sharpener, the tension between the molding sheet as well as the rubber sheet, the variable speed between some of the molding strip as well as the extraction site and the automatic biscuit production line.
Rotary Moulding Process
The extraction web becomes pushed against all the molding sheet by growing the rubber sheet energy to make suction to remove the dough clusters from the marks in the molding sheet. The system of extraction ends in a section of the nose, allowing the clusters of dough to be moved to the panning site.
This can be achieved by moving the pieces of the dough throughout a rotating spindle sheet that is placed between the web of extraction as well as the web of panning. The stiffness of the rubber sheet shore normally varies from 65-70, as well as the lower the level the gentler the rubber, and that the higher the inclination to “tail” the dough portion.
The rotary mold build
Allowing a “blanket” with dough to stick to the sheet is the characteristic of that same castellated forcing sheet, however, the extent of this “castellation” is unnecessary, as the dough will rotate on the sheet for 15 – 20 mins. The key role is to force the kibbled dough further into moulding sheet’s etchings and also not to continue the recycled dough inside the hopper, capturing air, hardening the gluten by combining it “secondary.” By varying the pitch of the castellation, a decrease in stress is exerted on the etched moulding plate, which leads to “original” mixing and inserting including its dough parts.
Who Watches the Watchers? HR Accountability Can Transform Workplace Environment
Accountability is one of the most important requirements of answerability. It is the opposite of responsibility and offers criteria to assess performance. In general, the human resource manager holds other employees accountable for their duties.
From hiring, coaching, training to motivating and retaining employees, a human resource manager has a variety of roles to play. They watch over all employees to ensure they match up to their responsibilities.
But who watches the watcher?
Do organizations have a system that can audit HR departments? Who holds HR managers accountable? Let’s delve into the details to find out the answers to these questions.
Why HRM Accountability is Important
Human resource management has the purpose of promoting and supporting the goals and mission accomplishment of an organization. The HR manager must follow a structured framework to support the organization’s mission and objectives within the borders of rules, laws, and regulations.
Jack Phillips –a famous author of the book “Accountability in Human Resource Management HRM,” has talked about the payoffs of measuring HR responsibilities. Some of the top reasons he has mentioned:
- Identifying the contribution of human resource management to organizational effectiveness
- Determining whether a human resource manager is accomplishing objectives of the company
- Identifying the strengths and loopholes of HRM processes
- Calculating the ROI (return on investment) in HRM programs
- Determining if HRM programs or policies justify resource investment
- Establishing a database to help management in making critical decisions about human resource management
Accountability Roles of HR Managers
Typically, HR managers are directly accountable for the impact of human resource management decisions and also responsible for regulatory compliance of the actions. However, both HR managers and HR staff have shared accountability.
The HRM accountability system guided by OPM (Office of Personnel Management) that helps organizations assess the performance of HR managers. The system guide provides a framework with established policies that include values of fairness, equity, and openness. Moreover, it has criteria that help firms evaluate how HR managers should perform as a functional expert and how they administer and support employees.
How HR Accountability Helps Transform the Workplace Environment If HR managers are aware of the fact that they are accountable for their responsibilities, they can facilitate a transition by redirecting their efforts in many areas. They can help transform the workplace environment by;
- Focusing more on shaping values than designing programs
- Becoming actively involved in the HRM goals and strategies developed to support the organization’s mission
- Ensuring effective communication of the policies to employees
- Acting as a consultant on issues, to help and encourage staff to give their best
- Simplifying, streamlining, or automating HRM processes such as classification and staffing
- Providing employees with accessible information, on-board support, and online diversity training
Overall, accountability is an essential aspect of every field. And when people know they are answerable for their actions, it adds to their sense of responsibility. HR managers, in this regard, need to follow an HRM framework to fulfill their duties and promote a thriving work environment.
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