U.K. Startup Seeks to Move Energy Sector to Blockchain-Based Infrastructure
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....
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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....