Blockchain
Global Blockchain in Energy Market Anticipated to Reach $6.29 Billion by 2024
According to a new market intelligence report by BIS Research titled ‘Global Blockchain in Energy Market − Analysis and Forecast, 2018-2024‘, the blockchain in energy market was valued at $ 518.6 million in 2018 and is projected to grow at a CAGR of 54.09% during the forecast period from 2018 to 2024. The market is expected to reach $6.29 billion by 2024. The market growth is largely attributed to the increasing integration of renewable energy sources, coupled with the increasing demand for decentralized power generation.
Browse more than 50 Data Tables and 132 Figures spread through 219 Pages and in-depth TOC on “Global Blockchain in Energy Market“
The increasing use of renewable sources of energy for electricity generation leads to unstable power supply and increase in the demand-supply gap. There has been a growing need to maintain the demand for energy with adequate supply, by reducing the overall energy consumption and increasing energy efficiency, sustainably. Distributed ledger technology (DLT) such as blockchain, is a relatively recent technological innovation that has wide-ranging implications for several sectors. The cryptographic technologies underpinning blockchains have been around for a few years, transforming innovative combinations into useful packages. In the power sector, such combination matched with the proliferation of distributed energy resources and grid-interactive devices makes blockchain potential a booming market.
The oil and gas sector has also been suffering from high operational costs and low efficiency rates across the industry. Countries such as the U.S., Germany, the Netherlands, and the U.K. are the frontrunners in the blockchain in energy market. Other key countries in the blockchain market for energy have been Estonia and Australia. The introduction of blockchain has resulted in numerous market expansion opportunities for leading companies in these countries.
BIS Research Report: https://bisresearch.com/industry-report/blockchain-in-energy-market.html
High growth in the market in the coming future is expected to be driven by rising awareness among governments about the need to mitigate power outages while also addressing the issues concerning the environment. The growing awareness in the market concerning the opportunities in renewable energy and battery storage systems has stimulated large-scale investments in the sector over the last decade.
According to Rakhi Tanwar, Principal Analyst at BIS Research, “There have been significant investments in the blockchain in energy industry since last three years. The industry is receiving investment from high-profiled individuals, financial investors, and major energy companies. In 2018, an amount of $466 million was invested in the industry, with 189 companies operating in the blockchain in energy market.”
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Moreover, the growing market of blockchain in energy is further expected to increase the involvement of companies across different segments of the value chain. It was analyzed that several companies preferred development strategies, such as partnerships, collaborations, and joint ventures to enhance their presence in the market, as compared to the relatively less adoptive strategies such as business expansions. To cite a recent example, in Sep 2019, Power Ledger launched a new blockchain-based project for energy trading across rural Australia. This project is expected to enable commercial buildings to trade excess solar power between each other. The said project has been launched in collaboration with Innovations Central Midlands WA, BSC Solar, Sonnen and CleanTech Energy.
This report is a meticulous compilation of research on more than 70 players in the blockchain in energy ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 25 leading companies, market participants, and developers. The report also profiles 15 leading companies across the supply chain. Key profiles include IBM Corporation, Microsoft Corporation, Oracle Corporation, BP plc, LO3 Energy, Inc., Power Ledger, E.ON SE, Energy Web Foundation, Grid Plus, Inc. and others.
Key Questions Answered in the Report:
- What is the global blockchain in energy market size in terms of revenue from 2018-2024, and what is the expected growth rate during the forecast period 2019-2024?
- What are the major driving forces, challenges, and opportunities that are expected to influence the demand for the blockchain in energy market during the forecast period?
- Which are the major stakeholders in terms of their contribution and impact in the blockchain in energy ecosystem?
- What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
- What is the regulatory landscape in different regions for blockchain in energy?
- How each segment of the blockchain in energy market performed during the forecast period from 2019 to 2024, on the basis of
- type, including public and private
- component, including platform hardware and ancillary services
- end user, including power and oil and gas
- application, including power and oil and gas
- region, including North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW)
SOURCE BIS Research
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
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