Developing Renewable Energy Credits as Cryptocurrency on Ethereum's Blockchain

Abstract

The blockchain technology has the potential to revolutionize the legal and financial industries. With the development of Ethereum, blockchain technology can be inexpensively implemented as an efficient way to create, transfer, and authenticate Renewable Energy Credits in order to avoid waste, fraud, and abuse. Once Ethereum is fully tested, it — or similar technology — should replace other methods of REC issuance, including the need for a third-party certifier.