Power to the People on the Blockchain

We all do our part for the environment; for many consumers, going green is second nature. But when it comes to powering our homes, many families find themselves with an economic roadblock. When the power companies are permitted to exercise a monopoly over the generation, distribution, and maintenance of energy, many households are left without any other option.

Utility structured electricity prevent consumers from choosing their power source, but what if there was a way to disrupt this process? A concept known as the blockchain smart grid may hold the key to renewable energy. The same tech behind cryptocurrency, blockchain has the potential to support a consumer-based, peer-to-peer sharing environment made specially for energy needs. Imagine being able to see exactly where your energy is coming from, from which sources it is generated, and having the freedom to choose which option is right for your household, instead of relying on the power companies to tell you. Operating like an energy stock exchange, the same decentralized principles of blockchain can be applied to help consumers save money, have better access to renewable energy sources, and change our impacts on the environment.

As digital and energy technologies evolve, they become more and more entwined with one another. This infographic details the potential structure for a consumer-based energy market and how blockchain can make it possible, making clean energy sources an option for everyone.