New energy blockchain concepts seemed to crop up nearly weekly in 2018. A recent Greentech Media survey of energy and blockchain insiders revealed four companies to watch in the energy blockchain industry in 2019.
- Electron
Why does this London-based trading platform developer stand out? For one, it’s one of the few ventures with a female co-founder, Joanna (Jo-Jo) Hubbard, in the top team. Additionally, and more importantly, the company sidestepped the limelight of an initial coin offering in favor of building partnerships and seeking investments from energy industry heavyweights. Tokyo Electric Power Company took an early stake in the business in January 2018. This pragmatic approach to business helped cement Electron’s reputation as a solid company with a sensible roadmap.
- Energy Web Foundation
Most energy blockchain ventures are looking to build applications on top of a distributed ledger technology, but Energy Web Foundation (EWF) is looking at the ledger itself, working on a platform specific for the industry. EWF is planning to create open-source, scalable blockchain platforms specifically designed for the energy sector’s regulatory, operational, and market needs. In October 2018, EWF revealed it was building a blockchain of blockchains that would let consumers sell the energy they generate at home in markets worldwide.
- L03 Energy
In July 2018, L03 Energy announced a data standardization partnership with EWF that promises significant benefits for the industry. Molly Webb, CEO of Energy Unlocked and a consultant for L03, said that 2019 will be a year where ventures such as this will start to have an impact in the real world.
- Power Ledger
2018 was a busy year for Power Ledger, during which it launched initiatives in territories as far apart as the United States, Thailand, and Japan. Although its underlying blockchain technology is as yet not well equipped to deal with large numbers of low-value transactions, the Australian energy trading platform still emerged as a company to watch over the next year.
Blockchain’s Reach
Use cases for blockchain technology are vast and far reaching. To make sense of and prepare for this revolution, it’s important to understand what a blockchain is and what it’s capable of doing. Learn more in IEEE’s three-course program, Introduction to Blockchain Technology. You’ll learn more about blockchain and discover applications that make sense for your industry. Connect with an IEEE Content Specialist today.
Resource
Deign, Jason. (3 Jan 2019). 4 Energy Blockchain Companies You Should Watch in 2019. Greentech Media.
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