Tuesday, October 17, 2017

How Blockchain Could Give Us a Smarter Energy Grid

This issue is explained by a brief article in the MIT Technology Review, sent by classmate Jorge Cardona. It takes a look at how experts are predicting that blockchain will free data about the grid and reveal more about usage patterns and other critical measures. Here's an excerpt, showing a case of where entrepreneurs are moving in this space:
To unleash the potential of blockchain in the energy sector, Jesse Morris’s team at RMI has joined with Austria-based blockchain startup Grid Singularity to create a new nonprofit called the Energy Web Foundation. Earlier this month, the EWF launched its own blockchain, which Morris says is “purpose-built for the energy sector.” Based on Ethereum, the network will be a test bed for promising use cases. To validate transactions during the test, EWF will rely on 10 major energy companies that have signed on as affiliates.

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