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ARTICLE · 30 MAY 2019

Blockchain In Energy: A Practical Path To Standardization

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Our previous post, Blockchain in Energy: Stakeholders, Solutions and the Path to Standardization, focused on the regulatory landscape in the energy industry and how it relates to standardization among blockchain technology.

United StatesEnergy and Natural Resources

Our previous post, Blockchain in Energy: Stakeholders, Solutions and the Path to Standardization, focused on the regulatory landscape in the energy industry and how it relates to standardization among blockchain technology in the renewable energy ecosystem. Alternatively, initiatives spearheaded by industry groups, for example the North American Energy Standards Board (NAESB), and the stakeholders working with those groups provide a clearer picture to the practical means to create standardization. Currently, NAESB is developing a standard digital representation of natural gas trade events using blockchain. Their efforts are limited to this particular use case, but the mechanism for developing standards lays out the path for standardization that is replicable for other segments of the energy industry, such as tracking and managing renewable energy certificates (RECs).

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