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Will Energy Offer the Next Market for Blockchain?

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Electric devices that operate at what is sometimes known as the edge of the power grid—devices that range from electric vehicles to rooftop solar arrays—could help upend the utility business model and further decentralize energy production. Helping  in that process is a tool more familiar to accounting wonks than to power producers: blockchain ledgers.

The digital tool first gained attention as a driver behind the global rise of bitcoin applications, and it’s gaining notice across the energy sector.

In early May, 10 energy companies in Asia, Europe, and the United States said they would chip in a total of US $2.5 million to seed the Energy Web Foundation, a nonprofit whose mission is to accelerate the commercial deployment of blockchain technology in the energy sector.