Blockchain In Energy: 7 Possible Use Cases
With the global economy projected to grow four-fold by 2050, projections predict a 70% increase in the demand for oil to fuel the growth. However, the direct relationship between oil consumption and carbon emissions means that CO2 output will rise approximately 130% during that time unless significant changes to how we harvest and consume our energy are […]

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Hussein Hallak

Blockchain In Energy: 7 Possible Use Cases

With the global economy projected to grow four-fold by 2050, projections predict a 70% increase in the demand for oil to fuel the growth. However, the direct relationship between oil consumption and carbon emissions means that CO2 output will rise approximately 130% during that time unless significant changes to how we harvest and consume our energy are made. All parties agree that energy sources that are more sustainable and less detrimental to the environment are favored; the issue simply lies in the lack of usable energy if the world were to switch completely to non-fossil fuel energy sources.

The paradox of energy consumption is confounding: “The consumption of energy services for everyday mobility and domestic life is a fundamental precondition for participating in many contemporary societies, but it can also impact upon current and future generations in ways that raise questions of equity and fairness.” The simultaneously essential yet in other ways damaging reality of energy consumption requires that we assess and test all options for expanding energy accessibility responsibly while continuing to explore novel, sustainable means of energy production and distribution.

While the blockchain is no cure-all for the enigmatic question of how to proceed into the future of energy, it has several use cases that, at least on the surface, appear able to help facilitate a responsible, productive mission for the production and consumption of energy going forward.

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