This article explains blockchain’s potential role in a green future in a very understandable way. It is written by University of Waterloo Professor Srinivasan Keshav and was published in The Conversation.
In it he describes how company’s like Apple and Google can make the claim that they are ‘100% green’ by purchasing Renewable Energy Certificates, the problems that currently stand in the way of blockchain’s ability to scale, and how, once those problems are overcome, blockchain could increase the ability to spread renewable energy use to everyone’s homes and electric cars.
Professor Keshav begins:
Imagine buying a solar panel from a hardware store, mounting it on your roof, then selling the green electricity you produce at a price you set.
Is this even possible? Some companies certainly think so. These startups are harnessing the power of blockchains to democratize green power.
Before you can understand how blockchains are part of the solution, you first need to know a few things about the green electricity market.