Monday, April 12, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Blockchain the ‘missing link to transform power industry

Sony T by Sony T
December 22, 2018
in Tech news
Reading Time: 1 min read
A A
0
Blockchain the ‘missing link to transform power industry
10
SHARES
131
VIEWS
Share on FacebookShare on Twitter

The highly regulated electric power industry is in need of the enablers to move away from some of the traditional business models with some of the complex operating structures. Blockchain technology is one such to create a paradigm shift towards the industry in a more decentralized and transactional environment, according to the report which has been revealed.

Some of the key challenges that the electric utilities face in today scenarios are high operating cost, security, aging grids, regulatory, and personalized customer service. Due to the blockchain potential in addressing many of these plans points, business leaders are now increasingly interested in experimenting with the latest innovative technology.

Archi Dasgupta, Disruptive Tech Analyst at GlobalData, comments: “Blockchain could be the leading enabler of decentralization, democratization, and liberalization in the power industry. Using smart contracts, the technology can empower bilateral settlements in real-time by eliminating midpoint delays steering to a significant reduction in the operational costs of utilities.”

Some of the decentralized of power with the blockchain technology has given a high rise to the trading platform like that which is implemented in the Brooklyn microgrid by the LO3 energy where the power can be purchased or and sold directly just within the peer to peer network, that even eliminates the need for the intermediaries. This will not only lower the cost of both the consumer and utilities but also present network transparency.

ADVERTISEMENT

Australia crypto startup Power Ledger which is known for developing the decentralized energy trading platform on the blockchain launched its first commercial deployment in entire America. Its distributed P2P blockchain network allows the businesses and consumers to sell their surplus solar power in their neighborhood without the help of a middleman.

Tags: Blockchainpower industrypower industry transformation
Share5Tweet2Share1Pin1
Sony T

Sony T

Sony is a passionate bloggers writes on Futuristic technologies ...

Related Posts

6 Most Enticing Work management Apps in 2021
Tech news

6 Most Enticing Work management Apps in 2021

by Sony T
April 12, 2021
Microsoft Teams is coming under Government Community Cloud
Tech news

COVID accelerated a push to the Microsoft cloud. Top reason: Microsoft Teams — ShareGate Report

by Srikanth
April 10, 2021
Microsoft new gaming device powered by Azure
Tech news

Digitate’s ignio™ AIOps For Azure Now Available in the Microsoft Azure Marketplace

by Srikanth
April 8, 2021
Four Practical Applications Of Artificial Intelligence And 5G
Tech news

Four Practical Applications Of Artificial Intelligence And 5G

by Srikanth
April 7, 2021
Demographic Data
Tech news

How Can Demographic Data Be Used to target a market effectively?

by Sony T
April 7, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

6 Most Enticing Work management Apps in 2021
Tech news

6 Most Enticing Work management Apps in 2021

by Sony T
April 12, 2021
How to get started with AIOps?
Artificial Intelligence

How to get started with AIOps?

by Srikanth
April 11, 2021
Websites For Conducting a Background Check
Startup news

Essential background checks that every Australian startup should use

by Sony T
April 11, 2021
Microsoft Teams is coming under Government Community Cloud
Tech news

COVID accelerated a push to the Microsoft cloud. Top reason: Microsoft Teams — ShareGate Report

by Srikanth
April 10, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Newsletter ?

What is Expected ?

  • Newsletter
  • eBooks
  • Tech Reports
  • Infographic
  • Webinar
  • Event Tickets
We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications