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Cake day: May 14th, 2024

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  • The blockchain solves one problem: trust. Do we really have that problem in normal energy markets?

    People who buy and sell energy would need to trust each other and the middle man in between them. If they have trust issues, using a blockchain could make sense. As far as I can tell, the current system doesn’t suffer from a lack of trust, so what would the blockchain do in this case?

    Edit: Turns out, it would be more accurate to say that it redistributes trust away from a central authority… well at least in most cases it does. There are still situations when even a blockchain has a central authority you need to trust. It’s not guaranteed to solve all trust issues, but in the best case scenario it can solve some of them.