Blockchain technology offers transparency and security to renewable energy transactions.
1. Traceability: Blockchain enables tracking of energy production and distribution, ensuring the source of renewable energy.
2. Smart Contracts: Self-executing contracts based on blockchain enforce agreed-upon terms between energy producers and consumers.
3. Peer-to-Peer Trading: Blockchain allows direct energy trading between individual producers and consumers, eliminating intermediary costs.
4. Data Security: Immutable blockchain ledgers secure sensitive energy data, preventing tampering or unauthorized access.
5. Market Efficiency: Transparent transactions facilitated by blockchain promote fair pricing and efficient energy markets.
6. Decentralization: Blockchain decentralizes energy trading, empowering individual users and promoting a more democratic energy landscape.
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