Energy Sector Invests $300 Million In Blockchain In Past Year


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2017 marked a turning point in global recognition of blockchain technology for its potential applications in the energy sector and witnessed $300 million invested in less than a year.

The first blockchain in energy transaction took place in April 2016 in Brooklyn, New York. Today, less than two years later, there are 122 energy industry organizations involved in blockchain technology and 40 deployed projects. From the second quarter of 2017 to the first quarter of 2018, more than $300 million was invested in the blockchain by the energy industry.

Funds raised totaled more than $50 million in both the third and fourth quarters of 2017, and more than $150 million in January of 2018, according to a research study from GTM Research

Author To Present In New York City

Colleen Metelitsa, the author of the report and a grid edge analyst at GTM Research, will present insights at Green Media’s Blockchain in Energy Forum in New York City on March 8

The report describes the number of blockchain energy companies by headquarter locations, the funds raised by the type of funding mechanism, the advantages and disadvantages of blockchain technology in the energy sector, and the number of investments in blockchain in energy organizations.

The report also lists ICO investments in the second quarter of 2017 to the first quarter of 2018, blockchain-as-a-service companies, planned and deployed projects by country, deployed projects by blockchain infrastructure and planned projects by blockchain infrastructure.

There are two licenses available for purchasing the report. The premium license is $4,995 while the standard license is $2,995.

Also read: The oil industry drills into the blockchain

Japanese Giant Taps Blockchain

The Tokyo Electric Power company (TEPCO), for example, recently invested in U.K.-based blockchain firm Electron in a focused pivot from centralized structures to decentralized systems for the energy sector.

TEPCO revealed its investment in London-based blockchain startup Electron toward the end of 2017. With revenues of over $456 billion, TEPCO is Japan’s largest utility provider servicing millions of homes in Japan alongside subsidiaries and affiliates in eight other countries. TEPCO said the two companies will explore solutions using today’s centralized infrastructure to usher in a decentralized blockchain platform for energy transactions.

Featured image from Shutterstock.

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The post Energy Sector Invests $300 Million In Blockchain In Past Year appeared first on Crypto Currency Online.

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