Energy Blockchain for Disrupting The Energy Industry: Opportunities and Challenges

Amid the recent revolution of digital currency and blockchain technology, many blockchain-centric and blockchain-adjacent companies are entering via the energy sector. Energy blockchain startups have raised over $300 million through ICOs in the past year alone. This phenomenon, while holding the potential to revolutionize the nature of electricity as a commodity, also introduces an existential threat to the existing monopoly of grid operators.

Opportunities:

Decentralization of the grid into local community microgrids using solar, wind, and storage

New innovations in solar power, superefficient PSC solar panels, control systems, peer-to-peer transactions through blockchain platforms

Unprecedented incentives for individuals and communities to embrace renewable energy through adaptive solar microgrids, providing themselves with cleaner, cheaper, and more resilient sources of energy

Challenges:

Resistance from city, state, and federal regulators; fossil fuel lobby and others invested in the status quo

Gaining the trust and cooperation of grid operators, along with equal access to systems of power production and distribution for microgrid operators; equity in economic growth

With these questions in mind, Power2Peer has assembled a panel of experts for what promises to be a lively discussion exploring the opportunities and challenges of the energy blockchain.

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