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ARTICLE · 12 JUNE 2020

Deployment Of Blockchain Technology To Minimize Investment Risks In India's Power Sector

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The power sector in India has historically been plagued with several challenges that have stymyied investment, innovation and growth.

IndiaTechnology
Nived Veerapaneni
Nived Veerapaneni
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The power sector in India has historically been plagued with several challenges that have stymyied investment, innovation and growth. One of the primary concerns voiced by a range of industry stakeholders pertains to weak enforcement of contracts, which creates financial and operational distress that often end up being litigated. The Government of India has also recognized power sector's concerns around contract enforceability and attempted to address these in the Draft Electricity (Amendment) Bill, 2020, wherein a statutory authority known as the 'Electricity Contract Enforcement Authority' is proposed to be set up with the sole responsibility of enforcing power contracts.

Blockchain-based smart contracts are increasingly being seen as a potential solution to help alleviate these concerns, especially in light of them being self-executable, immutable, and transparent. It is imperative to understand certain fundamentals of blockchain technology before we delve into

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