Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesThe Internet is buzzing about the huge potential blockchain technology has to transform industries. Even sectors that seem unlikely, such as the dental industry, are seeing the benefits of this new technology. While Bitcoin has been criticized for being a huge energy consumer, blockchain technology can also help solve our energy problems.
New blockchain solutions are making clean, decentralized energy, such as rooftop solar power, much more accessible, affordable and easier to adopt. Blockchain can also enable neighbors to trade clean energy with each other, without needing to go through a utility. It can even power systems that encourage people and businesses to conserve energy.
For example, Sun Exchange uses blockchain to enable a global marketplace where members earn Bitcoin for bringing solar to the developing world. Through their platform, almost anyone with $10 and an internet connection can buy fractions of solar panels called ‘cells’ and rent them out to be installed on the empty roofs of schools, hospitals, communities and businesses in developing countries. This system also makes electricity cleaner and more affordable for the community or organization where the projects are installed.
Another example is Energi Mine. The company developed a blockchain-based rewards system, that uses their ETK digital token to incentivize people to use less energy. People can earn ETK tokens for various energy-saving behaviors including reducing their power consumption at home, opting for public transport, purchasing energy efficient appliances, etc. Because ETK tokens have a market value, they can then be redeemed to pay for energy bills, electric vehicle recharging or they can be exchanged for “regular” (non-digital) currency. Users basically earn money for reducing their carbon footprint.
Blockchain technology is still in its early days, and it’s exciting to ponder the possibilities for the future of energy and the environment. Not only can blockchain redefine today’s broken electricity systems, but it can also motivate new levels of climate action and environmental awareness among all of us.
Meet and share your experience with professionals engaged in harnessing the potential of Blockchain for international development at the first Blockchain for Development Forum to unfold in Southeastern Europe. The event is scheduled for November 7th, 2018, and is due to take place at Hotel Opera Plaza, in Cluj, Romania.
Original source: Forbes
Published on 14 February 2018