Blockchain technology provides a transparent and immutable
record of energy transactions, preventing tampering of the meter,
altering and manipulating the data by unauthorized parties etc.
By decentralizing data storage and processing, Block chain
eliminates the need for centralized intermediaries, such as utility
companies, for energy transactions. Block chain facilitates peer-to-peer energy trading, allowing
consumers to buy and sell excess energy directly with each other. By enabling peer-to-peer trading and incentivizing renewable
energy generation through smart contracts, Block chain-powered smart meters promote the adoption of clean energy and support
sustainability goals.
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