China's First Blockchain-Based Carbon Accounting Smart Terminal: Southern Investment Group Leads Green Low-Carbon Transformation

China's First Blockchain-Based Carbon Accounting Smart Terminal: Southern Investment Group Leads Green Low-Carbon TransformationOn November 27, 2023, Guangzhou Southern Investment Group Co., Ltd

China's First Blockchain-Based Carbon Accounting Smart Terminal: Southern Investment Group Leads Green Low-Carbon Transformation

On November 27, 2023, Guangzhou Southern Investment Group Co., Ltd. (hereinafter referred to as "Southern Investment Group") launched China's first blockchain-based carbon accounting smart terminal, marking a significant breakthrough in the country's green low-carbon transformation. Independently developed by Southern Investment Group, this terminal utilizes blockchain technology to achieve real-time and accurate calculation of carbon emissions, providing reliable data support for enterprises to achieve their carbon neutrality and peak carbon emission goals. Compared to traditional carbon emission monitoring methods, the smart terminal effectively addresses issues such as low data acquisition efficiency and unreliable data, maximizing data security, reliability, and accuracy, and achieving the visualization, controllability, and usability of enterprise carbon emission data.

Dr. Lao Weilun, General Manager of Southern Investment Group's Digitalization Department, led the project. Under his leadership, the smart terminal now covers calculation models across 20 industries. Employing AI algorithms, the terminal rapidly analyzes raw data collected in real-time, automatically calculates carbon emissions, and generates verification reports. Dr. Lao Weilun possesses extensive experience and notable achievements in blockchain and AI, earning him the title of "Panzhou Leading Algorithmist" at the 3rd Panzhou Algorithm Competition for his outstanding contributions in the field. He believes that blockchain and AI technologies have entered a stage of full-scale application in power systems, playing a crucial role in the digital transformation of the power industry.

Before joining Southern Investment Group, Dr. Lao Weilun accumulated years of experience in blockchain and AI, studying and working in Singapore and the Netherlands for eight years before returning to China in 2010 to dedicate himself to research and information technology development for domestic enterprises. During his tenure at Southern Investment Group, he actively participated in and led the development of numerous international, national, industry, and group standards. In December 2023, he was appointed President of the Guangzhou Blockchain Industry Association, actively promoting collaborative development among industry, academia, research, and application, and actively participating in international exchanges. He serves as convener of several professional committees under the Institute of Electrical and Electronics Engineers (IEEE) and the International Organization for Standardization (ISO) focusing on blockchain, power systems, communication, and network security technologies. He is committed to promoting domestic blockchain pilot programs globally and striving for international standardization.

In 2021, the National Development and Reform Commission and the National Energy Administration officially responded to State Grid Corporation of China and China Southern Power Grid, encouraging the two major state-owned enterprises to pilot the use of new technologies such as blockchain to comprehensively record information on all aspects of green power generation, trading, and consumption, realizing the entire life cycle tracking of green power and promoting pilot green power trading. This marked the booming development and wider application of blockchain technology in China's energy sector.

Dr. Lao Weilun points out that the energy sector is a crucial area for the application of blockchain and AI technologies, with broad application scenarios in power trading, grid operation, virtual power plants, distributed energy storage, supply chain management, and financial management. For example, blockchain technology can comprehensively record information on all aspects of green power generation, trading, and consumption, and State Grid Corporation of China has already applied for a patent for a blockchain-based green certificate trading system. AI technology can improve grid operation and inspection efficiency, be used in power customer service, and optimize dispatching efficiency in power scheduling to ensure stable grid operation.

New-generation digital technologies, including blockchain and AI, are undergoing deep integration with the energy industry. Actively piloting and introducing these technologies are indispensable steps in the digital transformation of the power industry. The Southern Investment Building integrated energy project is a typical case of using various digital energy management technologies to achieve green low-carbon emissions. The project's photovoltaic power generation system can generate approximately 89.59 megawatt-hours of electricity annually, indirectly reducing carbon emissions by an average of 24.37 tons per year; the 690-kilowatt AC/DC charging system is equivalent to reducing fuel consumption by 175 tons annually, reducing carbon dioxide emissions by 543 tons; in addition, it also has a mobile energy storage system and a high-efficiency air conditioning system, realizing the multi-energy complementary synergy of energy, ensuring the stability of electricity use, and achieving energy saving and emission reduction goals.

Dr. Lao Weilun also points out a current pain point hindering the further development of blockchain and AI technologies: insufficient data accumulation. AI requires massive data for training, requiring various industries to further effectively share relevant data. Furthermore, although many large domestic manufacturers have launched general large models, their true effectiveness requires vertical domain large models, which are still under development for direct application in various industries.

Dr. Lao Weilun highly praised the positive role of the Panzhou Algorithm Competition, considering it a model of the "four-chain integration" of industry chain, innovation chain, capital chain, and talent chain. The innovation chain can gradually industrialize the basic research of AI and algorithms; the industry chain can integrate all aspects of hardware and software research and development, manufacturing, and application; the capital chain and talent chain can jointly support the development of the innovation chain and industry chain. The "four-chain" integration can break through bottlenecks and barriers in each link, effectively improving resource allocation efficiency and quality, forming a more efficient and stable technological innovation system, ultimately creating an innovative ecosystem for Haizhu District, maximizing benefits for all participants.

Regarding receiving the "Panzhou Leading Algorithmist" award, Dr. Lao Weilun expressed that it was an encouragement and recognition of his career, further solidifying his determination to continue dedicating himself to scientific research in the fields of blockchain and AI. He stated that he would actively leverage his expertise to contribute to the high-quality development of Southern Investment Group in line with national needs.

Southern Investment Group, a large-scale comprehensive power service enterprise in South China with leading comprehensive strength and industry influence, is actively expanding into integrated energy, energy services, industrial and financial investment, and electricity-carbon coupling, rapidly increasing the scale of its new businesses based on its traditional power construction business. The launch of the nation's first blockchain-based carbon accounting smart terminal is a significant demonstration of its transformation towards these new businesses. The terminal has passed third-party testing and certification and technical appraisal by the China Electricity Council, achieving internationally leading standards. As of the end of October 2024, the system has been deployed in over 30 client enterprises, including Guangzhou Tower and the Southern Investment Building. Southern Investment Group plans to continue communication with Haizhu District to expand deployment.

Dr. Lao Weilun stated that Southern Investment Group will further enhance its brand in the field of social green low-carbon transformation technology services, allowing more industrial and commercial enterprises to recognize its brand and choose its technical services during their green transformation. At the same time, in the face of fierce market competition, Southern Investment Group will continue to strengthen research and development innovation, improve its product line and service system, and provide higher-quality services around customer needs. By independently developing and deploying the nation's first blockchain-based carbon accounting smart terminal, Southern Investment Group actively responds to the national green low-carbon development strategy, contributing to China's green low-carbon transformation and setting a benchmark for the industry. Its continuous innovation and development will further promote the progress of China's application of blockchain and AI technologies and contribute Chinese wisdom to the global green low-carbon cause.