China plans to use blockchain for power trading
Different uses of blockchain technology are being explored around the world. China, for example, is looking to use technology to promote electricity trade.
The latest developments on electricity trading come as the country is in the midst of increased demand for electricity. Extreme heat and drought have pushed a demand for more air conditioning and therefore more electricity, which is pushing the electrical infrastructure to its limits.
“The Chinese Energy Administration (ECA) is about to study the use of block chain power exchange platforms to promote power trade between stand-alone power generation units and state and national grids,” said a Finbold article. “In particular, the ECAa state organization under the National Development and Reform Commission (NDRC), responsible for developing the energy policy, says the policy would examine the feasibility of small and medium-sized electricity generation and storage facilities to serve local communities, according to a
guidance document published on August 25.
“The Plan for deepening the reform of ‘decentralization, management and services’ and optimizing the distribution of key tasks in the business environment in 2022 has been deliberated and adopted by the Leading Group for the comprehensive deepening of the reform and promotion of the functional transformation of the national energy administration.”
As blockchain usage becomes more widespread, it offers an excellent path for growth. As such, the space is conducive to investing in exchange-traded funds (ETFs) that focus on blockchain.
A fund to consider is the Amplify transformational data sharing ETFs (BLOK )which presents an active management strategy that can adapt to market movements by placing assets in the hands of experienced portfolio managers.
With 50 entries as of August 12, BLOK adds diversified exposure and exposure to cryptocurrencies without investing in the currencies themselves. As mentioned, BLOK is actively managed, investing in companies in partnership or investing directly in companies using and developing blockchain technology, which is the technology behind cryptocurrencies like bitcoin.
Summary of BLOK functionalities according to its product website:
- Global equity portfolio of professionally selected companies involved in blockchain technology and indirect exposure to crypto.
- Active management approach that could allow the fund to remain flexible, make timely decisions, and identify companies best positioned to take advantage of the developing blockchain technology space.
- Convenience and transparency of ETFs structure.
For more news, insights and strategy, visit the Crypto Channel.
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