TECH & AI
“Enterprises are feeling an increased pressure from government directives and consumers alike ”
CLARE ADELGREN GLOBAL HEAD OF BLOCKCHAIN OPERATIONS , EY
In this we see potential for a much truer emissions reduction effort as organisations can leverage the abundance of credible insight to be stored on the decentralised digital ledger .
The use of blockchain for energy transparency So , how exactly is blockchain used to democratise data in the renewable energy sector ? Clare Adelgren , Global Head of Blockchain Operations at EY , brings us up to speed with its applications .
“ While blockchain technology has come a long way in the last few years , we need to remember that we are just at the very beginning of this exciting journey – for the energy sector this is especially true ,” says Adelgren .
“ There are some interesting parallels with the renewable energy sector , which has been steadily growing for the last 20 + years , but there is still a tremendous amount to do before we can reach the aspirations of the 2050 Paris Agreement . The International Energy Agency ( IEA ) estimates that to remain on target , the rate of growth needs to double , an acceleration that would mean two thirds of the electricity generated in 2030 would be from renewable energy sources .”
While the blockchain isn ’ t necessarily the silver bullet of energy decarbonisation , the criticality of reputable data in the process puts the ledger in a desirable position .
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