💡Abstract

Using the Blockchain Technology to Democratize Green Energy

The World consumed more than 23,000 TWh of electricity in 2021 and approximately 80% of this was generated by using non-renewable energy sources, including coal, natural gas, and wood. This is nearly a 91% increase from the net consumption in the year 2000.

It is quite damaging to the Net Zero by 2050 Scenario presented by the International Energy Agency and if we continue using the same amount of non-renewable sources, there is a high probability that we will not hit the target.

Therefore, we aim to provide a solution that will reduce the barriers to entry in this industry and most importantly, enable retail customers to set up their “green energy” businesses.

To provide this feasibility, we are developing a blockchain-based platform that would incentivize everyone on the system to use green energy and make the processes and the associated supply chains more efficient and transparent for the end-users, utilities, investors, and regulators.