On Tuesday May 9, Rocky Mountain Institute announced that ten energy companies from nine nations, including Sempra and Royal Dutch Shell, had joined the Energy Web Foundation (EWF), a nonprofit comprising of Rocky Mountain Institute and Grid Singularity, with a mission to accelerate the commercial deployment of blockchain technology in the energy sector. The foundation also announced $2.5 million in funding.
This is big news. Why? Because if the vision of what blockchain can do comes true, it could eliminate a lot of the complexities around managing distributed energy resources. And the fact that major energy companies are allocating resources to understand it is evidence that blockchain is worth paying attention to.