With rising concerns of energy usage as our world only grows exponentially more technologically advanced, we have to be mindful of the limited resources we have to sustain for not just future generations but the overall health of our planet. Through the immutable & trustless nature of blockchain Energy Web is hoping to be the change for a high tech yet sustainable future
The topic of energy and ESG initiatives are possibly one of the most confusing & contradictory aspect within this space of blockchains & distributed ledgers. On one hand we see constant talks of Proof of Work mining using rather significant amounts of energy, conversely we’ve also begun seeing blockchain protocols such as Energy Web work to build towards a near zero carbon future. So how do such polar opposite points possibly line up together?
Its no secret by now that the narrative around the entire energy sector is focused on clean & renewable energy as every year we see more and more reports of how global climate change and pollution is inching closer towards the inevitable point of no return.
Whether it be solar, wind, hydropower or biogas the initiative to push forth clean energy has been visible from both the private sector in addition to inter governmental organizations around the world. One could argue these technologies are already put in place from solar panels, wind turbines & even Tesla’s and while there is some truth to that argument, the greater issue posed by early innovations in the energy sector are that these new forms of energy operate in complete silo from our current global energy grid. Simply put the energy grid is our global network of how energy suppliers & demanders are connected, whereas many of these new energy resources are likely new and at times experimental and therefore likely not fit for our planets energy grid infrastructure (yet).
Simply put, Energy Web is an enterprise grade open source blockchain network with the focus of pushing the adoption of renewable energy generation through a decentralized marketplace connecting energy buyers and sellers while building out innovative applications for improving efficiencies in the energy sector.