Energy

A topic that seems to dominate the Bitcoin media are the vast amounts of energy consumed and the corresponding high carbon emissions.

Blockchain technology will bring a breakthrough to the financial sector, a revolution in logistics and disrupt energy market: such headlines have become commonplace in mass media. But will blockchain use be limited to these sectors? Education and science is one of the markets which is rarely mentioned when speaking about blockchain but which badly needs characteristics of this technology: data unalterability, verifiability and accountability.

Over the past couple of years, Blockchain technology has quickly risen to mainstream prominence and it is believed that it will shake up and disrupt various industries such as Banking, Energy, Music, VR/AR, Health Care and several others. However, one of the industries that is most in need of a blockchain intervention is Digital Advertising.

Green energy tech startup Solareum has announced plans to introduce a new blockchain-based platform that will be a cryptocurrency supported marketplace for renewable energy.

Tipper is a decentralized start-up with the aim to utilize the social media space. On tipper, users can earn just from “liking” content. Tipper has been built for the user and the content creator in order to harness The infinite amount of human energy, creativity, and ingenuity that goes into social media everyday.

Robotina, a Slovenian company dedicated to the development of smart technologies for the energy industry, has recently started their ICO presale campaign with the goal of revolutionizing the traditional power network. The company has almost three decades of experience in the global market, and their new energy management solution is a state-of-the-art combination of three groundbreaking technologies viz. Internet of Things (IoT), artificial intelligence (AI), and blockchain.

The inhabitants of Iceland are the first to consume more electricity on mining cryptocurrencies than on household needs. Perhaps it was possible due to magma-fuelled power plants. Volcanoes supply the island with a cheap and copious form of renewable energy.

Energy trading giants including Eni Trading & Shipping, Total, Gazprom Marketing & Trading Limited, Mercuria, Vattenfall, Petroineos and Freepoint, are planning to use a blockchain-based system within the pilot European energy project for trading resources.

Mining digital currency is certainly an attractive source of income. Plug in the GPU cards and let the digital gold pour. However, mining bitcoin alone consumes 0.13% of the world’s energy consumption. Fuelling such consumption with anything but renewable energy would have a devastating effect on the environment.