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Friday, March 24, 2017

Blockchain and Utilities

Blockchain in Power industry.

How Utilities Are Using Blockchain to Modernize the Grid

James Basden, Michael Cottrell

" .... Blockchain has grabbed the attention of the heavily regulated power industry as it braces for an energy revolution in which both utilities and consumers will produce and sell electricity. Blockchain could offer a reliable, low-cost way for financial or operational transactions to be recorded and validated across a distributed network with no central point of authority. As in the financial services industry, this capability has prompted some people to explore whether blockchain may one day replace a portion of utilities’ businesses by doing away with the need for intermediaries altogether. But that view is too extreme and simplistic. ... "

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