China wants to leverage Blockchain to facilitate trade in electricity

Various applications of blockchain technology are being explored worldwide. China, for example, is looking to use the technology to promote electricity trading.

The latest development in electrical trading comes as the country is in the midst of an increased demand for electricity. Extreme heat and drought have pushed demand for more air conditioning and thus more electricity, pushing the electrical infrastructure to its limits.

“The China Energy Administration (CEA) is set to investigate the use of blockchain-based power trading platforms to promote energy trading between independent power generation units and state and national grids,” a Finbold article said. “Specifically, the CEA, a government organization under the National Development and Reform Commission (NDRC), responsible for formulating energy policy, says the policy will look at the feasibility of small and medium power generation and storage facilities serving local communities, according to a policy document published on 25 August.”

“The plan to deepen the reform of ‘Decentralization, management and services’ and optimize the division of key tasks in the business environment in 2022 has been considered and adopted by the leading group for comprehensively deepening reforms and promoting functional transformation of the national energy administration.”

A Blockchain ETF to Consider

As more blockchain usage becomes more widespread, it provides an excellent avenue for growth. As such, the space is rich for investments in exchange-traded funds (ETFs) that focus on blockchain.

A fund to consider is Amplify Transformational Data Sharing ETF (BLOK)which has an active management strategy that can flex with the movements of the market by placing holdings in the hands of experienced portfolio managers.

With 50 holdings as of August 12, BLOK adds diversified and cryptocurrency exposure without investing in the currencies themselves. As mentioned, BLOK is actively managed, invests in companies that collaborate with or invests directly in companies that use and develop blockchain technology, which is the technology behind cryptocurrencies such as bitcoin.

Summary of BLOK’s features per product website:

• Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
• Active management approach that can enable the fund to remain flexible, make timely decisions and identify companies best positioned to profit from the evolving blockchain technology space.
• Convenience and transparency of the ETF structure.

For more news, information and strategy, visit Crypto channel.