Blockchain technology is the underlying framework on which most cryptocurrencies operate and it has become one the most important technological advances of the 21st century.

In short, a Blockchain is a secure system that stores information. This is usually done in individual blocks that are encrypted together forming a secure data string.

Bitcoin Blockchain pioneered technology as a transactional system. Its Blockchain is an electronic accounting book, each block holding a finite number of transactions made with cryptocurrency. It is completely decentralized, with transactions verified by a global network of miners.

It is here that the question of energy comes into play. The truth is, the cryptocurrency extraction uses a lot of energy. This has brought to light the production of traditional electricity, which is mostly impure and unsustainable.

This led to a new wave of Blockchain technology that seeks to provide applications and innovations to the way we use energy. About providing efficient data and transaction systems in the sector.

According to the figures

According to a study by Solarplaza event and consulting company, of the 90 companies included in its analysis, more than 50 percent Blockchain projects working in space are based in Europe. The top three countries are the United States, Germany and the Netherlands.

Peer-to-peer projects represent the largest number of use cases, while about 50% of these projects use the Ethereum Blockchain

As As an indicator of the novelty of this movement, more than 70% of these projects were formed between 2016 and 2017 – and one out of four projects involves an initial offer of parts or a symbolic sale.

P2P, Utility, Cryptocurrency, Platforms, Electric Vehicles

The majority of these companies have peer-to-peer blockchain systems offering a multitude of services related to the 39; industry.

Several projects offer decentralized energy trading services. The likes of LO3 Energy, which developed the Brooklyn microgrid, allowing the community to buy energy via the platform. Solar energy producers can sell surplus green energy to other connected consumers on the platform.

This is just one example of a multitude of innovative business offerings providing platforms for people, businesses and industries. It is worth noting that the energy giants BP, Shell and Statoil are part of a consortium developing an internal Blockchain platform that trains the energy products business.

Blockchain technology also reforms the functions of energy services. many companies have launched Blockchain platforms. Winners of WEF Electron has created platforms for energy meters, from user registration to the confidentiality of meter data. A number of other utility projects offer customers platforms that track energy consumption and provide cheaper energy prices on the network.

This includes IBM, which has teamed with TenneT to create a pilot platform using Blockchain technology to balance supply and demand for electricity to ensure power supply.

Of course, a number of cryptocurrencies have been created to facilitate energy trading platforms. A simple use case is the Spectral Energy Juliet Room, used by residents of an Amsterdam community to pay for electricity.

ElectriCChain created SolarCoin, a cryptocurrency based on the award for a network of solar generators. For every MWh of electricity produced, you get a SolarCoin, which is worth around $ 0.50

A number of online energy platforms will also be present at the Amsterdam conference. Many of these platforms offer global networks to create better communication between energy producers.

They also offer a variety of applications allowing the industry to monitor energy production and consumption – for consumers and producers alike. There are platforms that offer supply chain solutions for energy products such as oil and gas. Some provide platforms for consumers to consult the cheapest energy options available in their country.

Four report projects directly target the electric vehicle industry using Blockchain to help users manage and pay for charging stations. needs like car sharing and renting.

To top it off, a number of projects offer people cutting edge opportunities thanks to Blockchain technology. The Sun Exchange is an example. The project allows people to own solar panels in ideal locations around the world. The panels are then rented, with the owners paid income in cryptocurrencies like Bitcoin.

Blockchain2Business

While the list of energy projects involved in Blockchain is getting too long to be listed in an article, have a keen interest in Blockchain projects reforming the way we look at them. energy now have an interesting platform to participate.

In order to unite Blockchain energy companies and solution providers, Solarplaza held its first Blockchain2Business conference in February. Amsterdam. A host of blockchain companies that are pioneers in the sector, from energy generation to energy tokenization, have been brought together, as well as those who want to know more about the opportunities offered by Blockchain.