Since the birth of the “Genesis Block” on Jan 3, 2009, blockchain technology has been continuously breaking through and improving over the past decade. Until 2017, the blockchain technology finally attracted much attention.
People from all walks of life with far-sighted insight realizes that after many years of blockchain technology, applications have begun to spring up.
2017 is a crucial period for block-chain technology to upgrade from 2.0 smart contract era to 3.0 platform application era. Many industries are paying close attention to blockchain technology and even have great expectations no matter how popular or relatively unpopular the industry is.
Apply a popular phrase: “Whether you care, or not care, the blockchain will just be there, and never let go.”
The energy industry that provides power for our life activities is also focusing on blockchain technology and starting to try blockchain technology and start a new journey!
Since 2017, new companies have announced their entry into the energy industry through blockchain technology frequently. Some industry giants have taken the initiative to start a variety of forms of cooperation with blockchain companies, focusing their efforts on the application development of ”Blockchain+Energy” field and gradually strengthening their own advantages.
2018 is called “Genesis of Blockchain Application” since the applications of blockchain technology in various fields gradually start. In addition to the significant contribution that the blockchain itself has made to the technical architecture, it is even more able to help companies effectively and quickly raise funds for more new projects.
According to GTM Research’s “Blockchain Development in Energy Industry in 2018”, the following predictions have been made for the development of the blockchain in the energy industry in the coming year (this article is slightly cut):
- Investment in Energy Facilities Based onBlockchain Will Show A GrowthTrend
GTM Research estimates that investment in blockchain energy facilities will accelerate through traditional venture capital investments. “Blockchain + Energy Facilities” will become an important indicator and will play a supervisory role in various trends in this field. Moreover, more and more companies have begun to make significant achievements in the “Blockchain + Energy” pilot project.
Tepco, the German energy giant Innogy and the UK’s largest gas supplier, Centrica Group, have already cooperated with five blockchain companies through direct investment.
- The U.S. Energy Facilities WillStep Into Pilot Phase
Pacific W&C submitted a budget for “Investment Charges for Appliance Projects” in California, USA, to fund two blockchain pilot projects; Ameren plans to cooperate with Omega Grid on a new project of “Blockchain + Energy”, Omega Grid participates in Ameren’s Accelerator Project.
More and more U.S. energy facilities companies have joined pilot projects, and other companies have begun to follow suit.
- Energy Wholesale Trade Will Strive To Achieve Commercial Deployment
P2P decentralized energy trading has attracted the attention of various related pilot projects. There’re already some successful cases of pilot cooperation project between existing European companies and related industry partners. One of them will establish OneOffice, a commercial transaction platform, and operate through blockchain technology. Other startups are also actively participating in this field. With the maturity of unique business models, more enterprises will participate in this wave.
- Other Business Models Will Be Materialized
GTM Research expects that EV charging and renewable energy credit (REC) transactions will be the first applications of the blockchain in the energy industry and will be profitable.
In the case of electric car charging, the charging infrastructure is limited, and there is no uniform standards for billing, scheduling and payment software, so there’s less resistance to new concepts and new technologies. For REC, blockchain can replace traditional platforms and reduce the possibility of double calculating. Developers can design these REC trading platforms to comply with existing regulations.
The blockchain technology is already mature, but it’s still necessary to overcome the problems of supervision and technology so as to achieve a steady expansion of the application scale. Judging from the current situation, what we can determine is that Blockchain is affecting traditional energy brokers and blockchains can play an active role in the energy industry.
Of course, it takes a good blacksmith to make good steel. to be hard on its own. The bottleneck of the blockchain technology that existed before is being cracked by professionals one by one. In the future, the “chain” connection in the energy industry will be even more effective.
For example, Lailelib, a diversified public chain based on blockchain 3.0, is a typical example. For “Blockchain + Energy”, Likelib is more efficient and can save a lot of costs.
We believe that there will be even more powerful momentum in the energy industry that will seamlessly link with the blockchain, , and the “Chain” will connect the future!
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