Recently, DNV GL published an article in which, they focused on how blockchain can simplify the process of energy costs verification. In this article, DNV GL takes a look at the challenges of getting an accurate reading of the true cost savings that come with various energy conservation moves. This can dampen an organization’s ability to work efficiently towards energy conservation.
The company believes that blockchain is the answer to this blockchain technology. It believes that the problem of energy use verification can be solved using sensors. In the write-up, DNV GL argues that there would be pre-set rules through which, the blockchain ledger would record energy usage by taking information from sensors. Those saving can then be redeemed in crypto coins as a monetary incentive, to encourage companies to employ better energy saving mechanisms.
So how does Vechain (VET) come into play in all this? Well, DNV GL is a major partner to Vechain. This means that in implementing a blockchain system that encourages energy efficiency, Vechain stands as the blockchain that could gain the most in such a scenario. In fact, Vechain has a pending patent for an energy sector blockchain solution. The patent application is labeled CN201711463442.XA and was published on the 25th of May 2018. In the abstract, the patent application reads as follows:
“The invention relates to a distributed energy source system based on the block chain technology. The system comprises a distributed energy source power generation module, an energy source analysis control module and an intelligent management module; the modules are accurate in effect, by means of the characteristic that the distributed electric energy has the intermittence and volatility, distributed energy source coordinated optimization and intelligent control are achieved, and it is ensured that a power grid can be safely and stably operated.”
This is a good indicator that Vechain (VET) has what it takes to transform the energy industry. This could drive up the demand for Vechain for two reasons. For starters, it could draw in climate conscious investors into Vechain. The number of people who believe in taking measures that help conserve the environment is growing. That’s because, the negative effects of climate change are beginning to manifest through extreme weather and other natural calamities. As such, with the number of climate conscious people growing, blockchains that offer solutions towards this end could attract lots of investments in the future, and that ncludes Vechain (VET).
Secondly, as organizations start adopting the solutions offered by organizations like DNV GL, demand for the Vechain blockchain will rise. This will play a huge role in driving up the value of this crypto in the long run.
Clearly, Vechain stands to make huge gains once bullish sentiment returns to the market. Not only does it have great fundamentals, it is also extremely undervalued at current prices. It’s one altcoin that is low risk, in a market full of altcoins with very weak fundamentals. The future is great for this crypto