The Promise of Blockchain - A Reality Check
- Sep 30, 2019 2:30 pm GMT
This item is part of the Special Issue - 2019-09 - Blockchain in Utilities, click here for more
The blockchain hype was inescapable at one point of time.
The technology was often held up as a possible solution to almost all of humanity’s problems from helping manage the refugee crisis to fixing advertising. Within the energy industry, blockchain was expected to streamline and, in some cases, rework the energy grid. An example of the latter was the establishment of peer-to-peer marketplaces for energy consumers, enabling them to make their own purchase decisions.
Of course, none of that has actually come to pass. Peer-to-peer marketplaces are still being developed and there is no word yet on the refashioned grid. Instead, data privacy has emerged as an elephant in the room because putting energy data on a public blockchain constitutes violation of privacy.
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