The exponential rise in data is one of the biggest challenges facing the global utilities sector. Smart meters, sensors and remote-controlled devices are becoming increasingly popular, and the nature of energy systems is growing more decentralised and complex.
Consequently, utilities are seeking technological solutions to this challenge that offer genuine commercial advantage, reduce costs, improve security and are sustainable enough for their industries to thrive on the challenges of a low carbon world.
One solution proposed is Blockchain. This technology has the potential to lower operational expenditure, increase efficiency, create fast and automated processes, improve transparency and reduce capital requirements and expensive network upgrades for energy firms. Moreover, it can empower consumers and prosumers to play a more active role in energy markets.
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