From Crypto Winter to Pandemic Summer: Blockchain Applications for Utilities in an Unconventional World

From Crypto Winter to Pandemic Summer: Blockchain Applications for Utilities in an Unconventional World

This IDC Perspective analyzes the status of blockchain technology in the energy industry, describing opportunities for utilities, the status of prominent use cases in the sector, and examples of collective industry efforts. Utilities need to balance the intrinsic risks of an emerging technology with opportunities to find solutions to long-term industry challenges and digital transformation trends that are being accelerated by the COVID-19 pandemic. Given this, utilities can evaluate blockchain technology to evolve their business models and make them ready for a future digitalized and decentralized world."With potential blockchain-based use cases becoming progressively clear and solutions gradually moving toward commercial deployment maturity, utilities look at blockchain applications with continued interest," said Jean François Segalotto, associate research director, IDC Energy Insights "Blockchain could potentially support utilities through the development of solutions fit for an increasingly competitive and complex industry. This report highlights real-world examples of how blockchain can help organizations leverage this emerging technology and be prepared for new business challenges."

Please Note: Extended description available upon request.