If we have to mention one characteristic of the energy sector, it would probably be the complexity of the market. The large number of players involved in the purchase and sale of energy, the fluctuation of prices and, of course, its indispensable status are just some of the causes.
In this sense, blockchain appears as a solution for many of these processes, which can be applied to information management, transactions and even applicable plans. But what exactly are its uses?
Blockchain applications in the energy sector
Facilitating energy transactions, offering a solution to overly high prices, enabling real-time consumption data analysis… these are some of the functions that blockchain can fulfill in the energy sector. Here are some of its applications:
Sale of energy by prosumers
These are consumers who have renewable energy sources and become, in turn, suppliers. Thanks to the blockchain, they have a way to sell this energy to other consumers in a completely transparent and secure way.
The blockchain makes it possible to track consumption data even in real time. This provides useful information for all players in the sector.
The blockchain serves to encourage the use of marketplace tariffs. This is because records with these tariffs can be easily accessible to businesses and consumers, so the landscape tends to become more competitive.
A solution to high prices
It's possible to create single token to pay for energy, beyond the already existing cryptocurrencies, whose value fluctuates only influenced by the market price. In this way, a price decontrol due to the many causes that usually have an impact on the value of a currency could be avoided.
Charging electric cars
The blockchain concept makes it possible to create flexible plans and reduce the complexity of something that, according to the trend in society, will become more and more important.
Want to know more about what blockchain can bring to the energy sector?
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Would you like to discover all the possibilities that blockchain offers to the energy sector?
Get in touch with us.
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