US Senate Takes A Look At Energy Efficiency And Blockchain

Blockchain technology has the potential to be a game-changer in many industries, and the US Senate acknowledges this fact, hosting a hearing on how blockchain tech can impact the energy sector.

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The US Senate announced on Thursday that the Committee on Energy and Natural Resources will host a hearing on “Energy Efficiency of Blockchain and Similar Technologies” on August 21. The committee aims to look at the impact blockchain technology might have on the price of electricity and the benefits blockchain can provide to the energy sector.

The Senate Explores Blockchain

The Senate announcement says about the upcoming hearing:

“The purpose of the hearing is to consider the energy efficiency of blockchain and similar technologies and the cybersecurity possibilities of such technologies for energy industry applications.”

US SenateThe committee also looks to evaluate whether blockchain and distributed ledger technologies might bring improvements in the security of energy supply computer systems.

The Senate announcement revealed that witnesses would be called to join the discussion, however, the identity of these witnesses are currently unknown.

The Senate hearing is the first time a Senate Committee hearing has explicitly focused on the potential of blockchain and it’s possible impact on the energy industry. Previous Senate hearings focused on other areas such as the regulation of crypto startups and ICOs to the use of blockchain in managing supply chains.

Interested in learning more about how blockchain technology is disrupting the current systems? Check these other articles here on our cryptocurrency news site.

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