The document discusses the transformative role of blockchain technology in the energy sector, highlighting over 65 use cases, including peer-to-peer energy trading and real-time data management. It emphasizes the benefits of blockchain, such as enhanced data security, transparency, and cost savings for end-users. The document concludes by encouraging the pursuit of blockchain certifications to leverage these growing opportunities in energy.

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Blockchain Use Case In Energy Sector
Blockchain is a technology that has expanded its use cases across different
industry segments. Blockchain technology evolved from being an underlying
technology for Bitcoin exchange to becoming a mainstream technology for aiding
the exchange of data or information exchange in healthcare, medical, education,
finance, and other segments.
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One of the prominent use cases of Blockchain is in the field of energy. Blockchain
has a tryst with transformation and growth, and it dissipates the same in the
segment where it is used. This has also impacted the energy sector, and now you
can find many companies using the Blockchain platform. In this blog, we will
decipher how this is happening.
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Blockchain and its use in the energy sector:
The joint report by the World Economic Forum, Stanford Woods Institute for the
Environment, and PwC shows that there are more than 65 existing and emerging
Blockchain use-cases for the environment. These use cases include business
models for energy markets, real-time data management, moving carbon credits, or
renewable energy certificates onto the blockchain.
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DLT technology can enhance the efficacy of the utility providers by tracking the
chain of custody for going materials. Besides this, there are other use cases in the
energy sector which we are going to assess ahead:
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· Peer-to-peer energy trading- One of Blockchain’s first use cases is in peer-to-
peer energy trading. As per Blockchain In Energy report by Wood Makenzie,
around 59% of the Blockchain energy projects build peer-to-peer energy markets.
This is a shared network where individuals can participate in buying and trading
excess energy. This type of market benefits the individuals because of the lack of
interference or control from central authorities.
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Wholesale electricity distribution- Energy sector companies, are now focussing
on connecting the end-user with the grid. With the assistance of IoT devices, this
can be easily achieved. Grid+ is one such example of a Blockchain energy
company that uses Blockchain technology to distribute electricity to the end-user.
The end-user can make use of Ethereum to purchase energy from the grid at the
cost they desire, thus creating a more stable energy market with lower electricity
costs.
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· Management of data- One of Blockchain’s key features is that it gives the user
more control. Under the conventional system, the data can be misinterpreted or
omitted. With Blockchain’s help, you are assured that there is going to be no
manipulation of data, and the transparency is maintained in the system. Moreover,
the threat to hack data or information gets eliminated with the use of the
Blockchain platform.
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Conclusion- The use cases of Blockchain in the energy segment is going to
increase with time. Blockchain ensures transparency, data security, and easier
access. The above mentioned are a few of the use cases of Blockchain in the
energy segment. In the times to come, this is going to proliferate. Blockchain also
enables the prosumers to sell excess energy and make money. Moreover, the
lack of central authority makes it a cost-saving move.
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Thus, companies are now hiring Blockchain experts and professionals who can
help in leveraging this technology in the energy segment. If you wish to make a
career in this field, this is the right time to enroll for the Blockchain certification
program with Blockchain Council.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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hello@blockchain-council.org
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