Blockchain technology has the potential to significantly impact sustainability and energy sectors.
In terms of sustainability, blockchain can enable transparent and secure tracking of environmental impact data throughout supply chains and operations. This can help in verifying sustainable practices like carbon emissions reduction, renewable energy sourcing, and ethical sourcing of materials. By providing a decentralized and immutable ledger, blockchain can enhance trust and accountability in sustainability claims.
Regarding energy, blockchain applications can streamline energy trading, facilitate peer-to-peer energy transactions, and improve grid management efficiency. Through smart contracts and decentralized platforms, energy producers can directly sell excess energy to consumers, leading to increased efficiency and reduced reliance on centralized infrastructure. This can promote the use of renewable energy sources and contribute to a more sustainable energy ecosystem.
Existing Blockchain Projects:
Powerledger (https://www.powerledger.io/)
Peer to peer energy credits traded which are settled using smart contracts. Allows them to select clean energy source and eliminate waste for a more balanced grid. Unifies the complexity of connecting microgrids using peer to peer currency. The open source provides opportunity for scalability through integration into any other energy tools (charging stations, data hubs, etc.)
SolarCoin (https://solarcoin.org/)
Verified solar energy producers are rewarded with SolarCoin determined by quantity of energy produced. Regardless of who uses the energy, accumulated SolarCoin can be transferred into other currencies or spent at businesses that accept the currency. SolarCoin provides an easily accessible means to incentivize solar energy production.