Review of the Blockchain Technology in the Energy Sector

Abstract

With the appearance of Blockchain technology, besides cryptocurrency, interest in the use of this technology in various fields has increased, including in the energy sector. Since Blockchain technology has repeatedly proven its importance in various fields, now the advantages of technology have become obvious in large energy companies. Many developed countries are massively starting to introduce Blockchain technology into the energy industry. While it is mainly pilot projects or just technology testing but already now Blockchain can qualify for creating new energy markets. The energy sector is currently at the stage of transition from a centralized system to a decentralized one in which complete autonomy will be achieved through the production and storage of energy.