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Blockchain in the Energy Industry

Another important benefit of implementing blockchain in the energy industry

is that all the electricity that the network delivers can be allocated in small units to

individual customers. This allows the precise calculation of all electricity generated

and consumed. A much-improved database would help to finalize network opera­

tions better at distribution and transmission levels. Figures 7.1 and 7.2 present the

current market roles and how the system would change if blockchain technology

were used.

FIGURE 7.1  Contemporary energy market.

FIGURE 7.2  Energy market structure using blockchain.