Navigant Research has released its latest Blockchain Vendor and Deployment Tracker 3Q19 which explores research, development and the adoption of blockchain platforms across five global regions.
According to the tracker, there are now 236 energy blockchain vendors, 254 projects and cumulative funding invested in the technology has nearly reached $700 million.
Recent market developments are driven by a combination of uncertainty and barriers to transactive energy deployment.
Johnathon de Viller, a research analyst with Navigant, said: “Key findings from our analysis highlight the shift in focus away from transactive energy (TE) and peer-to-peer electricity trading toward pragmatic use cases with shorter maturity horizons and proven business models.
“In particular, recent project deployments have focused on renewable energy certificates and guarantees of origin.”
Other key study findings include:
- Market barriers to transactive energy continue to drive market developments.
- Changes in funding patterns are influencing the shift away from transactive energy.
- Poorly regulated crowd-sourced initial coin offerings continue to be an important source of vendor capital however, public and private sources now account for the majority of blockchain funding.
- The slow maturation of blockchain is giving the industry a clear vision of the role of the technology in processes.
The report is available here