Opportunities and challenges of the hottest block

Opportunities and challenges of blockchain for energy consumers

blockchain technology is still a new thing, especially in the energy field. Then the experience of blockchain application in the financial field and the start-up projects in energy allow us to preliminarily judge the opportunities and challenges of energy blockchain for energy consumers

opportunities brought by energy blockchain

1 The transaction process will become simpler and the transaction handling fee will also be lower.

once the blockchain is applied, the previously active intermediary media in the market (such as trading platforms, traders, banks or energy enterprises) may no longer be needed, which will greatly reduce the transaction cost. This fee may include: the profit of the above intermediary media, the cost of reading tables, bookkeeping, the cost of paying reminders and reminders, bank charges, transportation fees, renewable energy certificate fees, etc

2. Energy supply has become more flexible. Based on the reduction of transaction fees, energy supply has also become more flexible. In energy supply, the function packages of suppliers will be more abundant

3. Distributed data storage brings a high degree of transparency of market information. Consumers can track where and how much electricity is produced. Consumers' choices will also be more free, and the biggest advantage will be that their change values are △ R1 △, R2, △ R3 and △ R4 respectively: consumers can always find new energy suppliers in a short time to ensure their own needs

4. The market is highly transparent, so energy prices have fallen

5 Energy consumers can easily become energy producers

an energy consumer can install photovoltaic systems in his own home, so he will naturally become an energy producer. He can sell his own shops to neighbors or transmit them to electricity. In this way, people who both produce energy and consume energy can be called energy producers and consumers. With a large number of such energy producers and consumers entering the market, coupled with the high degree of transparency of the market, the continuous growth of energy prices in the market in recent years will naturally decline

6. Independent of the central authority, the power of producers and consumers becomes greater

7 Promote the development of regional distributed energy

risks brought by energy blockchain

the arrival of emerging things will bring us opportunities and risks

1. Account loss leads to data loss

a recurring problem related to blockchain technology is that when users forget their own account information, users are irrevocably locked out of their account and lose the settings, data, information and assets stored therein

2. At the initial stage of the construction of the public blockchain system, the transaction cost is high

as we mentioned earlier, the application of blockchain will greatly reduce the energy transaction cost, but at the initial stage of the construction of the public blockchain, the transaction cost may still be high due to the amount of system establishment cost sharing

3. The energy supply network must be able to cope with highly flexible energy transmission

for example, the power supply has become flexible, and the amount of electricity transmitted by electricity has become more complex all the time. Electricity must adapt to such flexible transmission to ensure that there will be no failure in electricity operation

4. When disputes arise, no authority determines that no superior authority has no negative entity that can intervene in the regulatory capacity, provide simple services or modify previously executed transactions. This makes it difficult for both parties to resolve the conflict when they have differences

5. Some consumers can't accept

many experts have created highly cost-effective finished composite sandwich materials, and they still doubt whether blockchain technology can become a large-scale demand. Before this completely new technology is applied to the trading mode, many people in the market will inevitably be unable to accept this new technology to a certain extent

6. There is a risk of illegal behavior between the real world and the digital blockchain world.

the anonymous foundation of blockchain technology is bound to bring convenience to some illegal behaviors, such as the bankruptcy exchange that often appears in the headlines, which is set up for people to be cheated or blackmailed when using cryptocurrencies such as bitcoin

7. Lack of standardization

if there are no general standards and rules for the application of blockchain, there will be many incompatibilities

there is no doubt that energy blockchain will enable energy consumers to benefit from transparent and stable trading methods. But at the same time, the application of emerging technologies will always be accompanied by a series of technical problems and the lack of long-term experience. What will happen in the future is not an inevitable event. Only time will tell us whether blockchain is the most appropriate solution from the perspective of consumers