Blockchain technology’s potential to transform the modern grid

Mon, 11 Dec 2017

Blockchain technology could help the energy industry to deal with their two major problems: inefficient renewable energy tracking systems and how to maximise the value of the energy transmission system, experts suggest.

Traditionally, most companies rely on certificates to track renewable energy. When a factory generates renewable power, meters record data on the spreadsheet and send the sheet back to the registered provider. A second set of intermediaries brokers deals between buyers and sellers of these certificates, and certificates need to be verified by other parties when they are bought.

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