Globally, more than 80% of people agree that the world should be fully powered by renewable energy. The impacts of greenhouse gasses, burning fossil fuels, and relying on limited energy resources can no longer be ignored, and yet still most of our energy comes from burning coal and natural gas. So where is the disconnect? Blockchain could hold the solution.
The blockchain smart grid could be the answer to the renewable energy question. Drawing inspiration from the format and operations of cryptocurrency, the same principles can be applied to energy needs. With the potential foundations of a consumer-based energy market, as opposed to the current energy monopoly the power companies hold, customers can choose the greenest option for the lowest rate through a blockchain based smart energy grid. Even still, excess electricity can be fed back into the grid to avoid needless waste.
Take a look at this infographic for more on the opportunities of blockchain and energy needs, how it could influence big change for renewable energy accessibility, and what it means for consumers and the environment alike.