Electron Introduces Blockchain Technology to UK’s Energy Sector
A UK-based blockchain startup, Electron has created a demo application for the country's energy industry. The use of blockchain technology in different industries doesn’t need any introduction. Electron, a London-based startup is now working on implementing the very technology to UK’s energy sector. According to reports, Electron is lobbying for the country’s energy sector to implement Ethereum blockchain-based applications to record and manage energy consumption. In order to achieve the intended goal, the company has also created a demo application using placeholder simulated data from....
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A U.K.-based startup called Electron has created a platform on the Ethereum blockchain and has shown, using data from 60 energy providers, that energy supplier switches can be performed 20 times faster than current rates, yielding major cost savings, according to Techcrunch. The company, which has used simulated data from 53 million metering points, hopes to convince energy companies to move to shared blockchains. Paul Ellis, company co-founder said he hopes the improved efficiency will convince energy industry players to upgrade their current “hodgepodge” of processes. He said the energy....
The energy sector may soon be looking at widespread implementation of blockchain technology, indicates a survey conducted by Deutsche Energie- Agentur and ESMT Berlin. Bitcoin’s underlying blockchain technology is making inroads into every industry sector possible. The energy sector is one such industry which may soon see a widespread adoption. According to reports, a survey conducted by the Deutsche Energie- Agentur (German Energy Agency) and ESMT Berlin has indicated that many energy companies already have a blockchain technology roadmap in place for future implementation. The survey....
A new survey has found that the energy sector in Germany may soon be adopting the blockchain technology with many energy companies outlining a road map for the implementation of the technology in the future, according to the German news site, Contra Magazin. The survey, undertaken by Deutsche Energie-Agentur (German Energy Agency) and ESMT Berlin, looked at the responses from 70 executives serving firms in the energy sector. The results found that 39 percent indicated that their companies have plans in the future to implement the technology. While another 13 percent stated that they....
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