To keep track of how much clean energy is produced, governments around the world have created systems based on tradable certificates. Blockchain technology is a natural tool for tracking power generation and payments on distributed energy grids , according to Rocky Mountain Institute , a Colorado - based green energy organisation , and Austrian blockchain start - up Grid Singularity . The two outfits have joined together to create the Energy Web Foundation ( EWF ) , which has launched an Ethereum - based blockchain , which is “ purpose - built for the energy sector ” . The team will start by developing applications to track renewable energy certificates . In future , the EWF intends to enable “ more granular payments ” between providers and consumers and eventually to enable near - instant payment in return for sending energy to the grid .
Blockchain technology is a natural tool for tracking power generation and payments on distributed energy grids , according to Rocky Mountain Institute , a Colorado - based green energy organisation , and Austrian blockchain start - up Grid Singularity . The two outfits have joined together to create the Energy Web Foundation ( EWF ) , which has launched an Ethereum - based blockchain , which is “ purpose - built for the energy sector ” . The team will start by developing applications to track renewable energy certificates . In future , the EWF intends to enable “ more granular payments ” between providers and consumers and eventually to enable near - instant payment in return for sending energy to the grid .