Blockchain Tech Is Transforming The Energy Industry

11 Jan 2018   Oil Supply

In many ways, the energy sector has been slow to adopt this new tech, but things are finally beginning to change. As ‘Big Energy’ begins to catch up, many market leaders and investors are looking towards blockchain for a more transparent and efficient energy future. Just one of these capabilities would be to enable the energy industry to adopt a peer-to-peer trading model, completely revolutionizing the way energy is bought and sold. The below chart reflects the rapid growth of renewables in U.S. power generation: (Click to enlarge) The rise of renewable energy has accelerated the adoption of blockchain technology and thanks to the rapid growth of Distributed Energy Grids (DERs) and the popularization of solar and other independent sources of renewable energy, many consumers are now producing their own power in excess, and selling it back into the grid. Related: How Energy Investors Are Getting In On The […]

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