In 2018, companies in Singapore started buying and selling renewable energy certificates on a blockchain-powered system. Like carbon trading in other markets, Singapore’s system, launched by utilities provider SP Group, allows for more transparency and lower costs because there is no central intermediary processing and verifying transactions. Meantime, a consortium that includes BP and Shell is now developing a blockchain-based platform to trade energy commodities.
This trend is part of our section on Additional Energy Trends. Click here to see more trends in this section.
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