Cryptocurrency projects in the energy sector: Are they any good for the industry?
- Sep 19, 2019 10:37 pm GMT
This item is part of the Special Issue - 2019-09 - Blockchain in Utilities, click here for more
Nowadays, we are witnessing the appearance of numerous cryptocurrency projects. Blockchain’s disruptive power is threatening every industry in the world, and the energy sector is no exception to the rule, as it has already been a subject to numerous projects which want to change our energy industry and make it decentralized and improved.
The energy sector problem
The problem with the energy sector is that it is highly centralized. Mostly, the energy in the world is owned by a couple of billion-dollar companies, roughly speaking it is in the hands of the powerful few. To put it differently, many energy-related resources and their prices are often dictated by those people who get to control the market and earn money from energy consumers.
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