The German Energy Agency is betting on „green“ blockchains!

Last Updated: 1. Dezember 2023By

The renowned Fraunhofer Institute for Applied Information Technology (FIT) has jointly published with the German Energy Agency (dena) a new guide to blockchain technology.

Notably, dena has created a platform called the Future Energy Lab on behalf of the Federal Ministry of Economics and Climate Protection (BMWK), in which the digital and energy sectors can come together.

Dena recommends the use of energy-optimized blockchains such as Ethereum, with the aim of serving as a think tank and laboratory for pilot projects to test new technologies and regulatory approaches in the electricity, heat and mobility sectors to drive forward the energy transition. Dena represents the view that the use of digital technologies and platforms is essential for an increasingly decentralized and flexible renewable energy system.

The current analysis provides valuable insights both for the range of applications of blockchains and for discussions about their energy consumption and benefits. It is highlighted that Ethereum’s blockchain has reduced its energy consumption by 99% with the switch to the consensus algorithm Proof of Stake (PoS). Dena therefore recommends to use energy-optimized „green“ blockchains such as Ethereum.

After BlackRock, Fidelity has also filed an Ethereum Spot ETF! With BlackRock, the world’s largest asset manager has now filed an application for approval of an Ethereum Spot ETF, after Bitcoin. This is more than welcome, due to the comprehensive application possibilities of Ethereum.

It will be interesting to see if Ethereum can be staked within the ETF based on the fund conditions and, above all, who will receive the staking rewards? BlackRock or the ETF investor? A staking approval in the ETF would also be another milestone for the crypto world, Ethereum and Proof of Stake (PoS) from a regulatory point of view.

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