We are looking at trends in tech disruption by sector and exploring potential use cases for blockchain in energy - focusing on related legal and regulatory issues.
We are considering 4 key blockchain innovations for energy: (1) producing a smart and decentralised energy generation and distribution infrastructure; (2) automating transactions using digital and smart contracts; (3) document ownership to facilitate asset management and certification of renewable energy, and (4) blockchain as a platform for commodities supply chain and trade finance.
Perceived benefits of using blockchain technology in these contexts include significantly reducing costs associated with facilitating transactions, keeping records and regulatory compliance.
The energy industry is trending towards a distributed yet connected future. With this comes many digital optimisation opportunities, be that technologies like the Internet of Things (IoT), artificial intelligence (AI) or blockchain. As such, utilities are ramping up their digital initiatives in order to remain competitive in the evolving energy landscape. And, to this end, utility organisations’ interest in blockchain technology is rising