The Energy Web Foundation: Bringing Blockchain Technology to the Grid

Renewable Energy World ---- Blockchain technology—the technology underpinning the Bitcoin virtual currency—is being discussed as one of the most potentially disruptive technologies since the Internet. Blockchains are a combination of information technology, cryptography, and governance principles that enables transactions to occur without the need for a third party to establish trust between transacting parties. To put it another way, in today’s transactions a number of human processes and institutions—such as banks, lawyers, regulators, brokers, and utilities—are paid to establish trust. Blockchain technology replaces these institutions, making it possible to conduct transactions without a third-party intermediary. To learn more about The Energy Web Foundation: bringing blockchain technology to the grid click on the picture below to read more.