Happy Friday everyone!
I've just become a Steemer, and I love it!
I just want to start by posting an interesting news story about how block chain can revolutionize the electricity industry:
While the impact of Bitcoin on the finance department has been vast, some are musing whether the technology behind Block chain could be implemented to track the flow of electrons on a dispersed grid. There is news circulating of block chain technology reinventing power grids, and the impact of this on the energy sector could be tremendous. Providing an attractive concept, block chain offers a source of transparent and protected transactions where the energy sector is one that can definitely be improved. Implementation of renewable resources will also be easier with block chain such as those harnessing wind and solar energy. Since the need for middle men will be greatly diminished, these resources will also make energy sectors far more cost effective.
More countries are now looking into this new technology including Europe, U.S, Australia and Africa.
The energy sector is the largest beneficiary of Bitcoin and it has proved block chain is viable; Investors like IBM are already investing finances to see how these technologies can be used into the energy sector, and what benefits it could bring to the electricity business. The entire globe runs on energy and it is one commodity that will be required till the end of time, hence will always be a priority among people.
Overall, I believe that Bitcoin and block chain will transform many sectors around the world including energy and electricity businesses. They will provide a more proactive way of doing transactions that will be cost effective and more secure.