mgm launches study on the use of blockchain technology in the energy industry

Blockchain … everyone knows it! It’s the… well… you can…

If you are thinking in a similar way, you are in the best company. Although the topic of blockchain is currently being hyped as a revolutionary transaction technology (e.g. for peer-to-peer energy trading), and the energy industry is increasingly coming to terms with it, a deeper understanding and market entries are still in its infancy. In the medium term however, blockchain technology is expected to have a disruptive market change potential. The reason: In all areas where encryption, storage and distribution of transaction data are required, cumbersome contracts and processes could be handled more cost-effectively, more quickly and securely in the future by applying a blockchain.

We are fascinated by the innovation potential of blockchain technology by all means. Therefore we are going to conduct a practice-based study during the next months about the opportunities and the challenges for the energy industry. The study will examine the impact of blockchain technology for the current market roles and will work out recommended actions for the energy sector.

Have you become curious and would you like to be informed regularly about the subject and the ongoing study? Do you have an opinion on the subject? Or is your company already preparing a pilot in a particular application area? Please send us a short message to Florian Umbreit, we are looking forward to an inspiring exchange of ideas!