The Washington Examiner’s newsletter, Daily on Energy, highlights how Advanced Energy Economy and the Energy Blockchain Consortium have teamed up to further explore uses of distributed ledger technology in energy. Link to the full article here. Excerpts below:
The Advanced Energy Economy and the Energy Blockchain Consortium signed a memorandum of understanding Wednesday “to explore the application of blockchain technology to the advanced energy industry.”
Vast networks of computer hard drives and servers are used to generate bitcoins by solving algorithmic puzzles. It is a process that requires a tremendous amount of electricity to accomplish, which is where the energy industry comes in.
The two groups will develop reports and hold meetings to begin their venture into identifying the energy opportunities and inform regulators. The groups will hold their first call near the end of September.
Holding meetings and writing reports will be used as just two ways to gather and share information with industry stakeholders, regulators, and the public about ways that distributed digital ledger technology, used to generate bitcoins, could be used to facilitate the adoption and growth of advanced energy technologies.
Link to the full WE article here.