14 Jun '18, 4pm

Reality Check: Blockchain Needs Proof of Concept Before Revolutionizing the Grid

It’s time to take off the rose-tinted blockchain glasses. The transparency and decentralization that accompanies blockchain helps provide innovation to the energy industry; however, it is by no means a one-size-fits-all solution that will necessarily transform the electricity sector. Blockchain will face significant hurdles to truly disrupting organized power markets. While there is room for blockchain or a similar technology in the energy market of the future, scaling timelines are dependent on technical and regulatory barriers. Blockchain could have outsized implications for monitoring renewable energy certificate (REC) and natural-gas markets, and it seems likely that these use cases will be the first to commercialize. Blockchain energy evangelism Crypto fervor gripped the nation at the end of 2017, leading to a steep spike of currency prices and massive increases in co...

Full article: https://www.greentechmedia.com/articles/read/reality-chec...

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