As technology continues to innovate and shape how we live, it also gives ease of access to many things, which includes the necessary tools to better take care of our environment.

Blockchain technology is, as described by Harvard Review Business, “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” Its potential is said to be its foundational qualities, its ability to “create new foundations for our economic and social systems.”

Douglas Miller’s article, published in the Energy Web Foundation however, outlines five ways (which will be relayed over in the course of five days) how blockchain is “poised to ‘upgrade’ existing systems and open access to renewable energy across the globe.”

Offering right-sized products to boost access and transparency

“When someone opens the Uber or Lyft app, they want to order one car ride—not 1,000 car rides—to get from a specific Point A to a specific Point B. Today’s renewable energy markets depend on a MWh standard, which is too large for most medium- to small-scale generators and buyers. These markets should allow for green attributes trading and claims at the kilowatt-hour (kWh) level to grow market access. This would also increase transparency by allowing for more-granular details about green products on the market.”

Read Douglas Miller’s Energy Web Foundation article in full.