How blockchain can help the utility industry develop clean power

How blockchain can help the utility industry develop clean power

One unlikely disrupter is blockchain, known best as the technology behind the digital currency Bitcoin. For the utilities sector, blockchain may have the potential to streamline transactions and cut costs while catalyzing the transformation toward cleaner energy and greater efficiency.

There are reasonable questions about the viability blockchain’s future given its structural challenges and failure to as of yet scale a significant application. But an emerging perspective maintains that blockchain can be most valuable when it enables collaboration, democratizes data access, and solves specific pain points across industries. Before blockchain can achieve notable scale and widespread efficacy, it must resolve a number of hurdles including inefficient computing power use in transaction validation, ‘off-chain’ security vulnerabilities, and a lack of regulations and procedures. Nevertheless, we are seeing an important moment for blockchain, where promising pilots are facilitating a better understanding of industry opportunities. Below are five emerging sustainability applications for blockchain in the utilities industry…

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via Quotidien Finance, Corporate Finance, Crypto Finance, ICO, STO, Blockchain Daily News https://www.finyear.com/
link : https://www.finyear.com/How-blockchain-can-help-the-utility-industry-develop-clean-power_a40952.html
April 24, 2019 at 07:12AM

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