Blockchain will Transform the Utility of the Future
- Sep 23, 2019 7:08 pm GMT
This item is part of the Special Issue - 2019-09 - Blockchain in Utilities, click here for more
Blockchain – it has made waves by tracking and encrypting transactions for cryptocurrencies like Bitcoin. Now, this groundbreaking process has the potential to make waves in the energy industry as well – causing immense changes in how energy is generated, stored and consumed.
Consider if virtually anyone was able to generate and sell energy from solar panels or wind turbines through the help of blockchain. With current technology, we are speedily heading down that path. When blockchain is combined with smart meters, consumers will have the power to form their own microgrids – communities that trade energy freely. This could dramatically change the future of energy and utilities’ place in this energy ecosystem.
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