Although Shell is associated with oil and gas technology, the giant energy producer has been focusing on an energy transition agenda that is forward looking as green energy goals have to be met in the next few decades. It has begun transitioning towards green and sustainable energy and is planning to implement such energy operations with the help of modern and future ready technologies include Web3 and blockchain.
How will Web3 and blockchain help Shell in its endeavors for sustainability as it look to transition from fossil fuels to green and clean energy?
Shell intends to harness the advantages of Web3 and blockchain for its ability to be distributed across multiple computers making it necessary for consensus when changes need to be made. Another important factor with blockchain is that it is encrypted. This allows editing and adding changes by only those persons who have permission to do so and this is an advantage for Shell.
Shell is a giant energy provider throughout the world. It needs secure connections to collect and share data across the world. It needs technology that will drive the future and Web3 and blockchain are such technologies that offer huge possibilities to the energy company.
Shell has said that it has developed a blockchain system that measures green energy that is being consumed in real time at the source of energy creation. The green energy could be from solar panels or wind farms. Shell creates certificates that represent the green energy that is produced every 30 minutes.
Sabine Brink, who is the Global Lead of Blockchain at Shell, has created podcasts that share how Shell has used and is continuing to use blockchain technology. The giant energy producers has developed digital passports, is validating carbon credit programs and more to decentralize applications and collaborate with others to increase the use of low-carbon energy. It is using blockchain and Web3 to transition to green energy, which is both sustainable as well as measurable.