Blockchain technology is the new revolution and can transform the energy field. The energy sector is continuously being catalyzed by innovations that include electric vehicles, the use of smart meters, and rooftop solar. Now, there is an emerging technology for growth in the energy industry due to its system interpretations and smart contracts. Energy and sustainability are important when it comes to blockchain technology. It protects the environment.

There was a recent report that identified 65 emerging and existing blockchains used for the environment by the WEF (world economic forum) and Stanford woods institute. It includes new energy sectors, business models, renewable energy certificates, real-data management related to green energy protocol

Energy blockchain protocol can improve the efficiency for utility providers to track the chain of custody for grid materials. Also, apart from tracking, green blockchain provides an effective solution for the distribution of renewable energy.

Legacy energy fields like gas and oil stand to have an advantage from the implementation of Enterprise Ethereum solutions. Difficult systems with various actions can benefit from blockchain technology. Petroleum is one such traded commodity that needs jobbers, tankers, refiners, regulatory bodies, and even government. The difficult network suffers from several inefficiencies in such cases, green energy protocol helps to reduce the hazardous environmental impacts to the environment. It also helps to reduce the cost. So, in the coming era, green blockchain technology is going to save not only money but is going to be effective in many ways.

Data is intentionally or unintentionally manipulated, omitted, or even misreported. The financial expense of intentional corruption or accidental errors is detrimental to businesses as well as governments. In the spirit of transparency, the Greeneum token will allow access to records of transactions and prices. The accountability of public blockchain protocols also decreases the chances of monetary misuse or exploitation of data.

Greeneum token can offer clients greater control as well as efficiency over their sources of energy. Also, an immutable ledger offers safe and real-time updates of data for energy use. Different kinds of energy data have marginal cost, market prices, fuel prices, and energy law compliance. In April 2018, the Chilean National energy commission launched a blockchain project that aimed for that energy. The government can use the green blockchain technology protocol to store, record, or even track data.

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