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The global blockchain technology is at an early stage of its innovation and key technological operators are still experimenting and exploring its capabilities. Blockchain has its roots and use in the financial sector, wherein central control has been removed the financial transactions and the execution of contractual commitments. The major factor for this is that the energy industry is quite advanced when compared to the other sectors and is much regulated in its operations. There is significant potential for blockchain technology in energy industry as blockchain technology is an instrument to manage the sector’s growing complexity, data security, and ownership.
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