The blockchain innovation is that transactions are no longer stored in a central database, but distributed to all participating computers, which store the data locally. The first relevant blockchain application was Bitcoin, a so-called “cryptocurrency”. Over recent years, Bitcoin has become the basis for other blockchain applications, most of which are currently being developed in finance. A number of businesses and initiatives have recently been launched that apply the blockchain principle to other industries, among them the energy sector. Blockchain applications are generally considered to be a very promising technology but they are still at an early stage of development.
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