Can you explain, in as simple terms as possible, how blockchain relates to and will be important when it comes to energy management, utilities, and overall energy systems?
- December 3, 2018
- 290 views
A common topic I see arising in this community every now and then is how blockchain is going to interact with the energy industry-- both in the high energy requirements for blockchain as well as the possibilities to harness the potential of blockchain technology to improve energy systems. However, the opinions tend to go one of two extreme ways: 1) blockchain will be a revolution that changes the energy industry as we know it, or 2) blockchain is overhyped and being used as basically just a buzzwordy concept. It certainly doesn't help because the concept of blockchain is not an easy one to grasp and if other people are like me then sometimes they're too shy to ask questions until they understand. So, with that all said, who can offer an explanation of what blockchain is and how it relates to our management of energy systems that will help those among us who are still confused finally understand what the big deal is?