There are a lot of use cases for blockchain the energy sector, but transactive energy dominates. Editor-in-Chief Greentech Media There are now 122 blockchain startups operating in the energy space.
Since January of last year, 54 new firms have launched. “There’s a new company just about every week,” said Colleen Metelitsa, a grid edge analyst at GTM Research who’s been tracking activity in the space. It’s a sign that we’re in some kind of bubble. But it’s also a sign that blockchain is being taken seriously by energy companies.
There are now over 70 demonstration projects deployed or planned around the world in the electricity industry alone, according to Metelitsa’s tally. In 2015, Deloitte’s David Schatsky and Craig Muraskin wrote an extensive piece on how blockchain was moving beyond cryptocurrency and into a wide range of industries, including energy.
“Thus far there is little concrete happening” in energy, they wrote. That’s no longer true.
Energy-focused blockchain startups raised $322 million between Q2 2017 and Q1 2018, both from venture capitalists and through initial coin offerings, according to GTM Research’s accounting. Some firms are also picking up government grants. Initial coin offerings — a fundraising strategy “somewhere between crowdfunding, an IPO and something that doesn’t exist,” explained Metelitsa — make up 75 percent of that total. Please wait while we load the form Read more from greentechmedia.com…
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