Blockchain to break the wheel of the energy sector

Blockchain disrupts the energy sector

We are living in a world in constant evolution. Technology developments of the decades after the internet expansion, far from decelerating are growing unstoppable.

This growth is due to that humanity counts, for its first time, with a digital mindset generation and thanks to internet: interconnected. Those two factors allow that the study of new advances in technology, its experimentation and its application evolves exponentially.

This technological evolution advances so fast that goes beyond human capacity to assume it and canalize it through business models that could not be understood just few years ago.

A glance towards the energy sector

One of those industries that human lack of capability is more evident is, with no doubt, the energy sector. This lack of capacity doesn’t point out to the managerial skills of traditional energy companies, but to a business model that, supported on highly regulated oligopolies, puts its focus and efforts on defending its statu quo.
Therefore we are talking about a lack of capability related to a lack of interest in advancing to a model that democratizes the sector.

Of course, this encompasses 3 main actors: energy companies, governments who are responsible of regulating the energy policies and last, the consumers, who finally pay the bill.

Even though the efforts of maintaining this statu quo, the change within the energy sector is a need that the human kind must accomplish. World is in a hurry to potentiate the use of renewal energies and flow to a model that enables the needed transformations to the progressive abandonment of fossil energies.

Clean energy and technology at the service of the environment

In a world concerned by the impact of pollution and the climate change there are two factors that, in conjunction, are about to break the wheel:

  1. The fast development of alternative energy sources: cost reduction in terrestrial wind (41%), big-scale photo voltaic and photo voltaic distribution. Also, products such LED lamps (94%) and electric cars are cutting down its production costs and therefore its prices,
  2. The irruption of the latest technologies such Blockchain, Artificial Intelligence (AI) and IoT,

Start-ups will play a key role in this disruptive process that will change forever the way in which we produce and consume energy.

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