Blockchain applications gain traction in the energy sector


Nick Martyniuk, chief executive officer at WePower believes blockchain and data openess are key to innovation and progress in the sector.

According to Nick Martyniuk, Blockcahin is impacting the energy sector as many different start-ups are trying to capitalise on this technology in the energy space.

The following applications are gaining the most traction in the sector:

    • Peer to peer trading
    • Automated trading
    • Energy financing

There is however, “a long way to go as the sector has been closed for many years and it requires a lot of knowledge to do something meaningful in this space.

“Blockchain is a very powerful tool and technology with many different applications, therefore we need to understand how to use it effectively, says Martyniuk.