By 2026, the blockchain market in the energy industry is expected to exceed $1.5 billion, far surpassing the $127.5 million in 2018. Many energy companies have seen the potential of blockchain technology, including how it can change everything from grid management to green energy trading. Blockchain is a digital technology that records transactions between parties and securely stores this information in a decentralized system. Many companies have invested in blockchain applications in the energy sector, including IBM, Microsoft, Oracle, Google, Enel, Sun Exchange, Siemens, and Shell. When combined with artificial intelligence, blockchain can create a more powerful energy system, with AI using real-time data to predict energy demand while blockchain tracks transactions, enabling a stable and consumer-centric grid that adapts to fluctuations in demand.
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