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Potentiality of Blockchain Technology in the Energy Industry, 2019 Report : ResearchAndMarkets.com

The architecture of the global energy market is changing. The market model is transforming from highly centralized power distribution into decentralized, distributed energy management enabled by intelligent software and new approaches to data management. Three trends – digitalization, decentralization, and decarbonisation – are steering the transformation.

All these changes lead to the central question: how will the electricity services that are today primarily provided in a centralized, top-down manner be provided in the future?

Blockchain technology enables transparent, tamper-proof, and secure systems for different business solutions through smart contracts. Block chains are primarily designed to facilitate distributed transactions by removing the central point of authority.

The potential of blockchain technology in the energy industry has just started to be realized, evident by the increasing number of blockchain start-ups involved in R&D and pilot projects. Blockchain technology here remains in its infancy but is slowly growing. Beyond 2020, the energy market is expected to witness more blockchain projects coming online says the ResearchAndMarkets.com report.

The report reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Radar methodology. The document presents competitive profiles on each of the companies in the Radar based on their strengths, opportunities, and a small discussion on their positioning.

The report analyses hundreds of companies in the industry and benchmarks them across 10 criteria on the Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

The companies included in this Radar are LO3 Energy, Power Ledger, WePower, Grid+, Electron, Ponton, Veridium Labs, Grid Singularity, The Sun Exchange, Energy Web Foundation, Greeneum, and Prosume.

(Image Courtesy: www.btcwires.com)

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