Supply and Demand Balance
Energy markets are struggling to maintain the balance between supply and demand. There is a demand for flexibility services, that can either adjust demand to better match supply or can provide supply at short notice to meet increasing demand. By deploying blockchain in the supply, charging sessions of customers with electric cars can be temporarily interrupted, and can also smartly manage household batteries, thereby avoiding congestion on the high-voltage grid, and maintaining its balance.
Blockchain has got the potential to keep third party and mediator systems, away from fetching and transferring data, thereby helping in achieving cost-effectiveness in the healthcare system.
More Potential for Automation
Deploying Smart contracts can help in devices and computers to enact trades, make purchases or perform other actions themselves based on predetermined rules, avoiding the intervention for the third party. DLT architecture, on the other hand, ensures transactions are both trackable and irreversible. Embedding smart contracts can also ensure additional benefits, as they make it increasingly possible to facilitate machine-to-machine, automated interaction.
Trust between participants is higher, due to multiple points of verification.
Ownership or control of assets is public and transparent.