APPLICATION OF BLOCKCHAIN IN ENERGY

Abstract

Blockchain or distributed ledger technology has attracted great interest from companies in the energy industry. The combination of blockchain and energy is undoubtedly one of the most striking technological innovations in recent years. A typical application area of blockchain in the energy industry is trading and credit. Stakeholders use blockchain technology to promote distributed or wholesale energy transactions and create virtual grids. Consumers can trade between their own devices and resources, with their neighbors and with the grid. The whole process can be automated through smart contracts. In this article, we will discuss some use cases related to the application of blockchain in the energy field.