The technological innovation of the blockchain and its impact on the energy sector

Abstract

The blockchain application is a technological innovation that promises to revolutionize the way to negotiate the raw materials of the oil sector, through the use of cryptographic techniques that allow the streamlining of complex transactions that are being applied in trade and business. Companies can use a new generation of transactional applications in a safe and immediate way, based on the concept and application of blockchain technology, allowing accelerating the time to value for business and business initiatives. The objective of this article is to generate reflective analysis and discussion, through the combination of an analytical methodology, structural-causal, on technological innovation called blockchain, its application and repercussions, which have the capacity to improve transactions in the energy sector thanks to its decentralized and incorruptible system. At the present, innovation and technology are important instruments to establish improvements in the growth and economic development of the energy sector, the main foundation of the global economy in many respects, since this sector is strategic for reasons of national security in all the countries of the world.