China’s Development and Reform Commission announced its intention to use blockchain technology to create a more efficient energy network. A pilot project will be carried out to find out whether new ways of using electricity and new forms of energy can be exploited in this way.

China said it would become climate neutral by 2060, but in 2019 it was still the country’s largest CO2 contributor. The reason why it chose blockchain technology is due to the specific characteristics of the DLT. For example, the ability to read information about green electricity production, transaction and consumption from each value chain participant.