Energy

The concept of blockchain, alias distributed ledger technology, evokes already multiple opportunities in various industries. Therefore, also incumbents and start-ups in the energy sector pay increasing attention to it. Furthermore, many players in the energy market use out-of-date technologies and inefficient interfaces. For that reason, they are interested in the disruptive promises of this new technology and hope to find ways to reschedule existing structures and improve businesses. Yet they don’t know how to achieve this or cannot estimate the potential. In theory, through implementation of blockchain technology we could receive a more transparent energy market, faster transactions, lower costs, and a reduction of errors and fraud. Possible use cases may arise in the energy exchange and clearing business, decentralized power trading or new payment systems for end customers. Now it’s time to investigate the practical potential behind the ideas.