Each user can access the ledger, and there is no single authority (see “Why Bitcoin Could Be Much More Than a Currency”). Blockchain technology is a natural fit 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. “The goal of this project is to build a decentralized platform that can be used in any industry or service where there are multiple parties involved with electricity generation, transmission, distribution and/or payment,” said David Smith, CEO
Blockchain technology is a natural fit 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. “The goal of this project is to build a decentralized platform that can be used in any industry or service where there are multiple parties involved with electricity generation, transmission, distribution and/or payment,” said David Smith, CEO