Blockchain presents itself as the next emerging technology to spur growth in the energy sector through its smart contracts and systems interoperability.
Of the many use cases for blockchain, energy and sustainability are often less recognized. However, the World Economic Forum, Stanford Woods Institute for the Environment, and PwC released a joint report identifying more than 65 existing and emerging blockchain use-cases for the environment.
Power ledger is building a platform where users can contribute or consumer clean energy resources across the network. Pegged to local currencies and convertible to cash, the platform aims to focus on individuals in high density and urban environments. Unlike centrally managed power systems, these decentralized energy resources are not powered by one central provider, potentially creating a more competitive environment and preventing the potential for complete system shut downs.