Which energy Blockchain firms should you watch out for this year? After 2018 saw new energy Blockchain concepts pop up nearly week in week out, there should be quite a number of ventures to pick from. However, for the purpose of compiling this content we have narrowed down the list of potential Blockchain energy companies to watch out for this year to three. These are the energy Blockchain companies we believe will be worth watching in 2019:
Energy Web Foundation
While the majority of the Blockchain ventures out there are looking to create applications on a distributed ledger technology, the Energy Web Foundation (EWF) has decided to focus on the ledger technology itself. Having recognized the current standard set for energy Blockchains today, EWF is working on a platform specifically designed to suit the needs of the industry. According to Peter Davies the CEO and founder of energy Blockchain company Verv: “The Energy Web Foundation is promising due to the large number of firms, including traditional corporations, that are already a part of the network or have started planning to join it.” Davis insisted that EWF is looking into the possibility of creating multiple open-source, scalable Blockchain forums specifically designed to suit the needs of the energy sector in terms of regulatory, operational and marketing requirements.
In October 2018 the Energy Web Foundation revealed that it was creating a Blockchain of Blockchains to allow consumers sell energy they generate at home in global markets.
Electron is a London-based trading platform that looks “good and going forward,” according to the co-founder of ElectriCChain, François Sonnet, co-founder. ElectriCChain is a Blockchain developer affiliated with SolarCoin a renewable energy cryptocurrency. There are a number of reasons why Electron is regarded as a company to watch this year. The company is one of only a few startups in the Blockchain space to have a female co-founder Joanna Hubbard.
More significant is the fact that the company through an initial coin offering to facilitate partnerships and investments from the major energy industry leaders, with Tokyo Electric Power Company investing an early stake in January 2018.
In an industry hit with scams and hype, the down-to-earth approach implemented by Electron has helped the company’s reputation to grow as a solid player with a reasonable roadmap. Its move to build an energy eBay is surely going to get the attention of many this year.
Power Ledger emerging as one of our picks shouldn’t be a surprise. Last year was a busy time for the energy Blockchain company after the Australian energy trading platform launched a number of initiatives in territories like Thailand and Japan.
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The problem the company may encounter this year, along with other energy Blockchain trading platforms, is that the Blockchain technology isn’t yet equipped enough handel large sums of low-value transactions. No wonder the co-founder and CFO of FlexiDAO had this to say:
“Blockchain Technology isn’t yet a mature technology. Instead of remaining focused on the futuristic use cases like the peer-to-peer trading, this is the time to pay attention to doing basic things accurately including regulatory compliance, user friendly experience and future-proof technology scalability.”
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