So, what are some of the main benefits that the energy sector can gain from Blockchain technology and how will this impact on the built environment? As with all industries, Blockchain increases the trust in data transactions and with that, it will allow firms to be more transparent with their data. Smart Energy Contracts are a way in which this will benefit the industry allowing energy companies to automatically trade when certain variables such as volume or price are met.

Blockchain will also open new energy markets and increase access to existing markets for individuals, businesses and communities alike. This will become increasingly important to community owned microgrids for example, where through the use of P2P trading, it will allow owners of renewable energy systems to trade their energy with consumers, without having to go through the major suppliers allowing better rates for the traders which in turn will pass savings onto the end users.

Technological advances will also allow for increased support of the low carbon agenda. An example of this is helping develop the charging infrastructure for Electric Vehicles (EV). Historically, the amount you pay for these type of energy services has been somewhat of a mystery, however by implementing Blockchain systems within the EV charging network, owners of vehicles will be able to see if they are being overcharged for the energy they consume, whilst owners of charging points will be able to assess whether or not they are being underpaid for their services. The more trust generated from these transactions, the more willing service providers should be and in turn provide better coverage of charging stations for EV owners.