News by results: Energy

US Energy Department Funds Trial of Factom Blockchain to Secure Power Grid

Factom, one of the earliest companies to pitch blockchains to enterprises, is participating in a U.S. government-funded trial of the technology to protect the national power grid.

Bitcoin Is Using Less Energy Despite Record Hash Rate, New Data Shows

Bitcoin (BTC) energy consumption is becoming rapidly more efficient, new data shows as hash rate continues to hit record highs.

The New CBECI Index Suggests That Bitcoin Consumes More Energy Than Switzerland

A recent study of Bitcoin in terms of energy efficiency showed that mining the first cryptocurrency consumes more electricity than the whole of Switzerland.

Gulf Region’s Burgeoning Renewable Energy Sector Should Leverage Blockchain, Experts Argue

Blockchain can make the infrastructure of new renewable energy markets across the Gulf Cooperation Council (GCC) more secure, resilient and cost-efficient, experts from United States-based tech consultancy firm Booz Allen Hamilton have said. Middle East business news site Al Bawaba reported the news on March 4.

Firm Owned by India's Richest Man Turns to Blockchain for Trade Finance

Oil and gas conglomerate Reliance Industries – owned by India's richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction.

Bitcoin Uses a Lot of Energy, But Gold Mining Uses More

Much has been written about the large amount of electricity required to mine Bitcoin. There is no doubt that the amount of power consumed by Bitcoin mining is large in absolute terms, but it’s worth putting into perspective. Bitcoin isn’t a country, so its energy usage really shouldn’t be compared to the power usage of a country or countries. Since BTC and physical gold are both stores of value, it makes more sense to compare the energy usage and costs of digital gold mining to physical gold mining.

Residents in Upscale Thai Neighborhood to Use Blockchain For Energy Trading

Australia-based blockchain energy company Power Ledger has partnered with Thai renewable energy firm BCPG to launch a trial peer-to-peer energy sharing program in Bangkok, Thailand, according to an August 21 Medium post.

Researcher Challenges Bitcoin Mining Energy Consumption Alarmists, Says Debate ‘Oversimplified’

A clean energy expert has hit back against the common perception that high energy consumption is an “Achilles Heel” for Bitcoin (BTC), in an article published by The Conversation August 20.

Energy Firm Discloses Major Crypto Losses Amid Blockchain Rebrand

An energy firm that is publicly traded in Hong Kong and chaired by a Chinese billionaire is planning to rebrand itself as a blockchain company despite having lost millions investing in cryptocurrencies.

New study says Bitcoin has an energy problem that could exacerbate climate change

A newly released study asserts a large amount of electricity is eaten up as Bitcoin is exchanged and mined. The author suggests these consumption habits could be churning out enough carbon emissions to affect global climate change.

US Government Backs DLT-Based Energy Grid With $1 Million Grant

The U.S. Department of Energy (DoE) has announced it will award a grant of nearly $1 million to a blockchain startup in an effort to advance the development of a decentralized energy grid infrastructure.

China's Sinochem Completes Gasoline Export Over Blockchain System

Chinese petrochemical giant Sinochem Group has succeeded in utilizing blockchain technology to carry out a gasoline export.

The Blockchain Energy Grid Could Reshape Utility Delivery

Blockchains make it easier to secure, track, and exchange resources. With BItcoin, that resource is a currency. However, outside of cryptocurrencies, blockchain protocols are poised to disrupt a number of industries where certification and exchange are important. Recently on Coin Central, we’ve covered blockchain art, blockchain agriculture, and blockchain-based businesses. The blockchain energy grid is yet another idea poised to change how we think about using and paying for electricity.

Energy Sector Invests $300 Million In Blockchain In Past Year

2017 marked a turning point in global recognition of blockchain technology for its potential applications in the energy sector and witnessed $300 million invested in less than a year.