Will be making one of my longest post, and this was spur by the one person that constantly pushes me to be better 
At the end of this part, you should know the details of what a blockchain is, and also you should get an insight of what the blockchain tends to offer the energy sector.
What is the Blockchain?
Blockchain is a technology that allows a type of transaction, in which every participant on it is able to transact with each other, without a third part involvement. Transactions are distributed to all participating computers, which stores these data locally. The first blockchain application was the bitcoin and it’s the basis for other blockchain applications. Bitcoin is a type of cryptocurrency and for being the foremost, it has other cryptocurrency dependent on it.
Blockchain technology are all considered as promising technology, but all of which are still in its early stages. Bitcoin is far ahead of most other crypto projects and that’s partly based on the fact that this project started as far back as 2005… While most of these other blockchain projects started ten years after. As blockchain technology continues to widen in adoption, a number of businesses, industries are beginning to integrate the blockchain principles, which gives room for more efficiency and transparency … Wikipedia
Blockchain in the Energy Sector
In the coming years, the energy sector will undergo rapid changes in order to accommodate the increasing volumes of renewable energy needed. With the variability and unpredictable conditions in the management and operations in this sector, it’s imperative to employ a lot flexible measure, which will ensure safe operations and stability.
According to wikipedia in UK alone, an estimated investment of €200 billion will be required to achieve a substantial and secure energy, while $350 billion will be needed in the US to achieve the same. Thus tends to be an increasingly difficult task, as there will be more activity and complexity in the energy system, hence the need for the blockchain technology, which was originally designed to facilitate distributed transactions, by removing central management.
The blockchain offers an opportunity where by the energy used by a consumer, is supplied directly from the energy producer or producing company to the energy consumers, which is followed by a transaction between both parties, which will most definitely involve the cryptocurrency, and it’s done without the involvement of a third party.
This was first posted here
This marks the end of part one.
Thanks for reading.
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@daniel-otaniel, reminding you that when God thought of greatness, He created you to show for it.