Sustainable Energy
Blockchain has many potential use cases in the sustainable energy sector, particularly in electricity. With smart energy meters, blockchain and other emerging smart technologies could ensure real-time electricity tracking and avoid double counting. Electricity tracking via blockchain could mean rewards for generating renewable energy (ie. SolarCoin) and renewable energy certificates or carbon credits.
Peer-to-peer electricity trading is a major possible use case for blockchain in energy. The “Interbit” blockchain platform developed by Canadian BTL is the first intrinsically safe and self-guaranteed electronic energy trading system, allowing for a variety of transactions from small, community trading to large business interactions. Interbit is also accessible for developers since all of its applications can be written in JavaScript. Energy microgrids are another major use case for blockchain, making up 23% of blockchain electricity initiatives in 2018. The Brooklyn Microgrid is an example of a community energy network for sustainable clean energy that generates, stores, and trades energy in the local community. |
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