Between Q2 2017 and Q1 2018, energy-focused blockchain start-ups raised $322 million globally, from both venture capitalists and ICOs according to GRM Research’s reports . There are now over 122 blockchain start-ups operating in the space. While this does point to a bubble of sorts, it also strongly suggests that energy companies are taking blockchain, distributed ledger technology, seriously. Undeniably, the energy sector faces myriad issues ranging from security to climate change and ever-rising fuel costs often passed on to the consumer. The true potential of blockchain technology in the sector lies in transitioning the current ecosystem to a more robust, cost-effective, secure and low-carbon grid. Here are five energy-focused blockchain start-ups that we think are leading the charge in this space. Electron UK start-up Electron started its journey as a blockchain-based solution to help UK consumers switch energy suppliers back in 2016.
It has since broadened its proposition to support wider energy trading and grid-balancing solutions. In October this year, Electron was awarded a second BEIS grant to further the development of its flexibility platform, in South Korea, along with its local partner GridWiz.[…]