The Impact of Blockchain on the Utility Business Model
The potential of blockchain in the energy and utilities industry could be transformative. Over the past 12 months we have seen a host of utilities engage with the technology and launch pilots. Last week in Vienna, the world's first blockchain in energy conference took place, where over 400 attendees, including investors, startups and utilities participated in examining the possibilities of the technology across the sector. At the center of discussions in Austria was the potential impact of blockchain on the utility business model. To this end, Indigo has created a dedicated resource center that tracks applications of blockchain technology in the industry. Below are the key areas that we are focused on:
- An evolving global interactive map that tracks pilot news, startup launches and other notable activity
- Emerging use cases and their success across the sector
- Sentiment from energy industry executives
- How the core technology is maturing
This resource center will be consistently updated with global activities, emerging use cases and startups that are deploying the technology. To find out more visit Blockchain in Energy and Utilities here.
In terms of the actual impact of blockchain technology on traditional utility processes, the graphic below highlights where core functions may be supported and disrupted. From our analysis, blockchain may provide an opportunity to transform some existing utility processes, however, the major opportunities in the near will focus on the changes in the industry, and the handshake between distributed energy resources and utility analytics.