Bitcoin’s energy footprint less than expected finds new study
Studies on the environmental impact of Bitcoin have been polarizing - suggesting that mining is either a catastrophic waste of energy or of no concern at all. The truth is likely somewhere in the middle.
Blockchain Applications In Energy Trading
Picture a trade floor five years in the future. The robotic trader managing one of the gas desks is about to execute a physical natural gas trade with an industrial customer. One of the robotâs trading algorithms scans available market interest and optimises its search for the best deal to meet the customerâs volume and tenor requirements for a given period. Once the robotâs proposed deal terms are approved by the customer, the trade is executed and recorded on the blockchain. The deal terms are automatically confirmed and nomination information is recorded on the blockchain and available to the pipeline shipping the gas. As gas flows throughout the month, physical settlement occurs daily with payment initiated immediately. All activity added to the blockchain is readily available to the seller, buyer, pipeline and bank. Physical title of the gas is also conveyed directly via the blockchain.