Blockchain will upend German energy market – commentary

Blockchain will revolutionise Germany’s energy market, potentially rendering major utilities redundant, Kathrin Witsch and Christine Coester write in a commentary for Handelsblatt Global. The digital ledger technology, which allows users to exchange money, products, and services via digital contracts, could allow citizen producers of electricity to sell their excess power to their neighbours on days they generate more electricity than they consume, Witsch and Coester write. By eliminating the middlemen – electric utilities – electric ratepayers could save money and democratise and further decentralise the energy network, according to the authors.

Read the commentary in English here.

For background, read the dossier The digitalisation of the Energiewende and the factsheet Blockchain- the next revolution in the energy sector?