What is blockchain technology?
To build the operating system of the new energy marketplace, we need to ensure the existing infrastructure has the required supporting technologies.
We need to reimagine how energy is distributed, managed, traded, used and governed.
Blockchain technology has the potential to transform the energy sector as it improves transaction efficiency, enables price setting and allows for energy to be traded easily peer-to-peer.
The energy sector is beginning the transition from a centralized system with a small number of very large power plants, to a decentralized low-carbon electricity grid connected to billions of devices such as rooftop solar panels, batteries, thermostats, white goods, electric vehicles and smart meters.