A new report from Navigant Research states that 236
vendors, 254 projects and nearly $700m in cumulative funding has been invested
into energy blockchain development since 2015 across five global regions.
Johnathon de Villier, research analyst with Navigant
Research, said: “Key findings from our analysis highlight the shift in focus
away from transactive energy (TE) and peer-to-peer electricity trading toward
pragmatic use cases with shorter maturity horizons and proven business models. In
particular, recent project deployments have focused on renewable energy
certificates and guarantees of origin.”
According to the report, recent market developments
are driven in part by market barriers to TE deployment despite continued
interest from both vendors and potential customers. The shift in focus away from
TE is likely also influenced by changes in funding patterns for blockchain
vendors. More importantly, traditional capital investments from public and
private sources account for the majority of energy blockchain funding.
Navigant Research’s October report had estimated
global energy blockchain applications would
generate $19bn in cumulative revenue over the next decade at a CAGR of
66.9% during that time. The report said that Europe and North America would be
leading the market, which will be followed by 83.3% growth in the APAC region
Earlier this month, Volvo joined the Responsible Sourcing Blockchain Network (RSBN), which announced that its digital supply chain for cobalt has moved the pilot phase and is progressing toward use in live production computing environments starting in spring 2020. It will also be the first company in the consortium to fully apply the RSBN solution in its LG Chem supply chain beginning in spring 2020.
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Credit: Blockchain News