Energy & Sustainability
As Blockchain gathers the attention of many industries, its benefits for distributed transactions, promise a revolutionary approach for the energy sector. The privacy concerns of energy clients, the challenging energy tracking and the growing demand for smart grids from both large and small-scale energy suppliers necessitates higher transparency in the sector. Additionally, various emerging sources of energy generation, such as rooftop solar, demand response, and electric vehicles complicate the energy grid.
Blockchain technology, due to its cryptography principles, could ensure trust and security in energy transactions and reduce transactional costs, removing intermediaries. Subsequently, blockchain could facilitate a bottom-up way to manage energy flows from various small-scale energy producers, as opposed to the current top-down model.
Smart Grid, Climate change