A report published in The guardian, throws light on the fact that Nigeria needs around 180000 mv of electricity today. It might come out as a shock to many but the current shortage of electricity in the country is 173,000 mv. If we see the Government’s target for electricity generation in the country, 10,000 mv stands not just as a miscalculation but also as a complete failure of administration.
The situation of Nigeria is similar to that of most of the sub-saharan Africa. As published in a report,
“In rural areas in Rwanda, where over 70% of the population lives, only 18% of the population has access to electricity. Large numbers of households and public buildings in rural communities are not connected to their state-backed power grid. Urban dwellers and medium-sized enterprises linked to the grid still cannot be certain of having electricity all day. The government of Rwanda has set a target to achieve successful electrification by 2024.”
The way things are going currently and the current attitude of business can not in any possible circumstances provide complete electrification and even or reduce the energy gap between the first and the third world. If a technology which enables shared consensus on a transparent, yet secure backdrop is used, then the energy sector can be revolutionised efficiently through Blockchain. The Technology shall inspire fast adoption of decentralised energy system in all the places irrespective of it being with or without electricity.
As published in a report on World Economic Forum
“In 2017, a non-profit, Energy Web Foundation (EWF), started developing an open source, scalable blockchain platform with the aim of creating a market standard for the energy industry to build upon and run their own blockchain-based solutions.
A recent project by the Brooklyn Microgrid gives its participants the options of choosing their preferred energy source locally. Using a mobile app, Exergy, residents with solar PV panels on their roof (so-called prosumers) can sell their excess solar PV energy to residents without solar PV panels who are connected to the microgrid. Secure trading is made possible by blockchain. Platforms like these help small energy consumers achieve electricity and financial inclusion.”