Blockchain: A Boost for the Energy Industry
The energy industry has been slow to embrace change and disruptions unleashed by technology although such companies have invested millions of dollars in the last decade to build efficient systems for their regulatory requirements and key risks. Blockchain acts a catalyst for the energy industry—promising to speed things up and radically transform the industry's processes and markets. The
Blockchain technology shows great potential as it can be used to not only execute energy supply transactions, but also to create the basis for clearing processes, metering, billing, application in the documentation of ownership, the state of asset, renewable energy, and white certificates, guarantees of origin and emission allowances. For example, common use case for blockchain within the energy industry is the development of crypto-currencies for monetary payments
The potential cost-saving and process efficiencies are too compelling to ignore. Some energy companies have calculated the savings to the tune of 30 to 60 percent on their structural costs. Blockchain technology will lead as the accelerator of the world energy transition, helping organizations to have a decarbonized and decentralized energy system that will be more resilient and cost-effective.
By Leni Kaufman, VP & CIO, Newport News Shipbuilding
By George Evans, CIO, Singing River Health System
By John Kamin, EVP and CIO, Old National Bancorp
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
By Gregory Morrison, SVP & CIO, Cox Enterprises
By Alberto Ruocco, CIO, American Electric Power
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
By Sergey Cherkasov, CIO, PhosAgro
By Pascal Becotte, MD-Global Supply Chain Practice for the...
By Stephen Caulfield, Executive Director, Global Field...
By Shamim Mohammad, SVP & CIO, CarMax
By Ronald Seymore, Managing Director, Enterprise Performance...
By Brad Bodell, SVP and CIO, CNO Financial Group, Inc.
By Jim Whitehurst, CEO, Red Hat
By Clark Golestani, EVP and CIO, Merck
By Scott Craig, Vice President of Product Marketing, Lexmark...
By Dave Kipe, SVP, Global Operations, Scholastic Inc.
By Meerah Rajavel, CIO, Forcepoint
By Amit Bahree, Executive, Global Technology and Innovation,...
By Greg Tacchetti, CIO, State Auto Insurance