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
OKEx Launches OKB Ecosystem Monthly Report: Expands 5 C2C Markets and 36 New Use Cases
On Dec 10 2019, the world leading crypto exchange OKEx launched OKB Ecosystem Monthly Report. According to the report, OKB ecosystem made great progress mainly on two aspects: transaction and new use cases expanding.
OKB is newly listed on five C2C exchanges covering major countries and areas recently. In addition to that, the number of OKB new use cases reached 36, including 11 platform-empowered use cases and 25 external use cases.
Besides, through a buy-back & burn scheme and the token economy model, OKB is now ranked among the top 20 global cryptocurrencies by market capitalization with approx. USD110 million daily average trading volume in C2C market.
Now, OKB is being turned into a global token. Thus, to occupy the C2C market, the first step for users to get into crypto world is crucial. OKB is now on OKEx C2C market, accounting for approx. USD110 million daily average trading volume from tens of thousands of users.
Besides, OKB is also listed on ALINIEX, Bvnex, two major C2C exchanges in Vietnam and Bitsonic, Probit, two major C2C exchanges in South Korea.
Apart from expanding transaction methods, OKB also made huge improvement in expanding use cases. The report shows that the number of OKB platform-empowered use cases has increased to 11 and teamed up with 25 partners to build the OKB ecosystem, which means, OKB is not only a token based on OKEx, the native token on the soon-released OKChain and OKDEx and the only accepted token for OKEx jumpstart, but also expanded to other industries, like network security (Slowmist, Beosin, Certik), finance service (13 platforms including LinkEye, Molecular Future, etc.) and lifestyle (9 platforms including Tripio, BitTorrent, etc.)
For example, OKB holders can book their stay at 450,000+ hotels worldwide with OKB on Tripio, the world’s first decentralized travel booking marketplace based on blockchain.
At the end of the report, it also disclosed some details of OKChain and OKDEx. OKChain is currently at the final development stage and its testnet will be launched soon. As the first Defi application OKDEx will also be available on OKChain by that time.
ANSYS Accelerates Electronic Product Design And Signoff For Global Custom ASIC Leader
Global Unichip Corp. (GUC), the global custom application-specific integrated circuit (ASIC) leader, has adopted ANSYS (NASDAQ: ANSS) to support its unmatched combination of advanced technology, low-power and embedded CPU design capabilities.
Providing advanced ASIC services that meet the needs of today’s innovative technology enterprises requires a fast introduction, timely resolution to customer problems and successful signoff. GUC selected ANSYS® RedHawk-SC™ to support the significant needs of its customers by effectively executing designs with more than one billion device instances and completing the full-chip systems-on-chip (SoC) power integrity and reliability signoff in less than two days.
ANSYS RedHawk-SC is built on ANSYS® SeaScape™ — the world’s first custom-designed, big data architecture for electronic system design and simulation. ANSYS SeaScape features big data architecture for electronic system design and simulation and provides elastic compute scalability to enable rapid design iteration, increased scenario coverage and greater accuracy for full-chip SoC signoff for advanced nodes. ANSYS RedHawk-SC’s actionable analytics provide designers with key insights to prioritize design fixes and enable easy viewing and querying of large design databases in minutes for faster debugging. Efficient hardware utilization makes the platform ideally suited for high-performance computing, artificial intelligence and datacenter applications.
“GUC is committed to providing world-class custom ASICs to help elevate prospective systems and integrated circuit (IC) companies’ market-leading positions,” said Louis Lin, senior vice president, GUC. “As IC manufacturing processes become more complex, there are more elements to simulate and compute during chip design and verification to ensure reliability and minimize power loss. ANSYS helps us minimize this complexity, speed our time to market and reduce development costs. Our partnership with ANSYS has been a cornerstone in helping our clients succeed in the IC market.”
“As a custom ASIC leader, GUC requires cutting-edge solutions for fast and accurate results,” said John Lee, vice president and general manager, semiconductor business unit at ANSYS. “RedHawk-SC meets the market’s unique needs for addressing multiphysics challenges — we are seeing an influx of customers deploying RedHawk-SC for the most complex product and design signoff.”
SOURCE ANSYS, Inc.
The first global, stabilised, digital currency controlled by its holders, SAGA (SGA) lists on global cryptocurrency exchange Liquid
Global cryptocurrency platform “Liquid.com” today announced that it is the first exchange to list Saga token (SGA) for secondary trading.
SGA is the first global, stabilised, digital currency controlled by its holders and will allow global citizens to store and move value without friction across borders. It complements existing national currencies and offers a store of value outside the remit of national government and banking structures.
In order for SGA to serve as a global currency, it is fully backed by a strong basket of national currencies that replicate the International Monetary Fund’s SDR. Based on the SGA’s market movements, measured by the number of tokens issued, the Saga monetary model will gradually diminish reliance on the reserve as users’ confidence in SGA grows. Together, these measures are designed and implemented to reduce price volatility while allowing SGA to grow beyond a simple fiat-backed / pegged stablecoin.
SGA holders will also be the masters of the currency and, as a result, they will govern the Saga economy through a variety of voting mechanisms, designed to facilitate genuine representation of participants – balancing between identity and stake – and to generate long-term success for the currency. Holders will have to undergo an online Know Your Customer (KYC) process that ensures compliance within Anti-Money Laundering (AML) standards while maintaining their privacy.
The Saga token will initially be traded against the USD, Bitcoin and Ethereum, while more trading pairs are expected in the future.
“After in-depth conversations with our advisors and months of carrying out our own market research, we decided that Liquid is the ideal exchange partner for Saga. Liquid is one of the largest and most reputable cryptocurrency exchanges, offering customers a secure way to trade and hold SGA,” said Saga Founder Ido Sadeh Man. “Listing SGA on Liquid is an important milestone in bringing the Saga token to market.”
“We are delighted to offer Liquid customers the opportunity to buy and trade SGA. We believe SGA offers our traders an interesting opportunity as we see great value in Saga’s approach of replicating the mechanics of central bank national currencies and applying them on a global scale,” said Liquid’s CEO and co-founder, Mike Kayamori. “At Liquid, our core values are transparency and compliance, and as these are two key properties of SGA, a partnership between Liquid and Saga was a natural match.”
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