Blockchain is expected to make major impacts on the Energy Industry, but what is it?

Blockchain is expected to make major impacts on the Energy Industry, but what is it?

  • January 15, 2019
 

Blockchain is on the horizon and expected to make profound impacts on the Energy Industry.

Spain's major energy company, Iberdrola, has already started to use blockchain to track renewable energy with a pilot to monitor the renewable energy delivered from two wind farms and one power station to banks' offices located in the Basque Country and the southern city of Cardoba.

But what is Blockchain?

The video below breaks down the explanation of how it works in simple terms...

 

If you want to read more about how Blockchain technology works you can read more here...