(Commonwealth Union)_The fact that more people have access to electricity in developing nations is a good thing, but most households with grid connections experience shoddy and inconsistent service. More than 200 million homes and businesses throughout the world have subpar grid connections.
According to an Afrobarometer poll, less than 50% of South Africa’s entire population has a reliable source of power. This has meant that the country has seen unanticipated, unforeseen power outages which last for hours, and at times for days. People have also been forced to put up with planned and managed power outages, known as “load shedding”, which is when power is purposefully distributed to ease pressure on the system and prevent its total collapse. Electricity will be accessible for a few hours per day, and the specifics of the ration are announced in advance.
These problems typically have to do with the strength and capacity of electrical networks, which might be caused by inadequate generation or a generating mix that cannot be scaled up and down to meet demand changes. The lack of innovation in the country’s electrical networks, failures in transmission and distribution lines, and other factors are also cited as causes of the blackouts.
Technology is developing at an astonishing rate, and new ideas are being developed daily to enhance human lives. Blockchain would be a wonderful illustration. With the use of digital ledgers that everyone on the network can access, blockchain technology hopes to promote transparency.
Due to the decentralized nature of blockchain, data is saved on every device connected to the network rather than on a single centralized server. Additionally, the utility of blockchain technology has been demonstrated in a number of industries, including retail and e-commerce, healthcare, supply chain and logistics, banking, and now energy.
Blockchain integration could provide the ‘smart’ power grids required to overcome South Africa’s outage problems.
Authorities can determine what equipment and tools are required to restore the power grid to its optimal operating state and resume normal operations with the help of smart power grids. As a result, corporate losses are reduced, as is the length of a company’s freeze.
In addition to these advantages, blockchain-based systems aimed at resolving environmental and energy issues are beginning to materialize. Consider Megatech, for example. Blockchain is used by Megatech, a supplier of alternative energy, to address current issues.
MGT additionally provides token holders cash returns on solar facilities controlled by the company as a solution to South Africa’s energy crisis. The company’s first facility, Project Beta, a 60MW solar farm, will also feature 100MWh of cutting-edge storage technology to ensure optimum profitability and the opportunity to sell green, renewable energy to blue-chip listed companies at peak rates.
Blockchain technology is still a cutting-edge innovation, but it has a lot to offer the world. The aforementioned is a prime example of how it positively affects the environment and people’s lives everywhere, particularly in South Africa.
