Congressional Research Service Finds Potential Blockchain Uses for Energy Sector

The U.S. Congressional Research Service has released a report detailing the potential uses for blockchain in the national energy sector.

In a report published August 9, the legislators detailed the current state of energy consumption related to cryptocurrency mining, both nationally and internationally. They also explored possible ways to regulate the energy-intensive mining process and to integrate blockchain technology in current energy systems.

Some of the opportunities for blockchain include placing utility bill transactions on a smart grid, supporting electric vehicle charging infrastructure, and distributing energy resources.

“Traditionally electric utilities are vertically integrated. Blockchain could disrupt this convention by unbundling energy services along a distributed energy system,” according to the report. This could lead to greater industry transparency, efficiency, and competition among energy producers.

Additionally, blockchain could increase…