Energy Sector Giants Turn to Ethereum to Test Blockchain Potential

“There’s really a lack of specificity and understanding of what the use cases are.”

Jesse Morris, a principal at the Rocky Mountain Institute (RMI), is a little critical of the discussions around blockchain technology trials in the energy sector. While plenty of companies have discussed the technology, outside of a handful of pilots, the use cases and their benefits have been vague, he argued.

To tackle that challenge, the RMI, a Colorado-based non-profit advocacy group for green energy, has established the Energy Web Foundation (EWF) in partnership with Grid Singularity, a Vienna-based blockchain startup. The foundation aims to foster blockchain projects in the energy sector for commercial deployment.

In early May, the foundation announced that a number of global energy companies had joined the initiative, including Centrica, Elia, Engie, Shell, Sempra Energy, SP Group, Statoil, Stedin, TWL and Tepco – firms that have pumped $2.5m into the EWF so far.

With the help of these companies, the RMI and Grid Singularity will whittle down the use cases to what they consider the most cogent and attainable.

“A couple of different research firms have identified something like 200 use cases of blockchain in the energy sector,” Morris told CoinDesk, adding:

“We used that as a starting point and culled that

Read more ... source: CoinDesk

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