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The primary concerns with grid resilience within the global energy field are:
- Climate change. Extreme weather events, such as hurricanes, floods, and droughts, are becoming more common and severe due to climate change. These events can damage power lines and transformers, leading to outages.
- Cyberattacks. Cyberattacks are becoming more sophisticated and can disrupt the operation of the grid. In 2015, for example, a cyberattack on Ukraine’s power grid left 230,000 people without power.
- Physical attacks. Terrorists or other criminals could physically damage the grid, such as by bombing power plants or substations. This could lead to widespread outages.
- Natural disasters. Earthquakes, tornadoes, and other natural disasters can damage the grid, leading to outages.
Now that we have learned about the issues that have concerned us about Energy and the grid system that helps us store, distribute and provide for populations around the world, how can blockchain solutions help solve many of the issues we have discussed? Let’s find out.