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Question for Department for Energy Security and Net Zero

UIN 185769, tabled on 18 May 2023

To ask the Secretary of State for Energy Security and Net Zero, whether his Department has plans to encourage the use of blockchain technologies by business to help decarbonise the economy.

Answered on

25 May 2023

Blockchain technologies may allow trading of low-carbon energy and account for emissions of greenhouse gases to facilitate decarbonisation. However, the concepts still need to demonstrate that they could offer advantages over technology using centralised ledgers in specific applications related to decarbonisation. Several companies have been funded by the Energy Entrepreneurs Fund Programme to innovate their blockchain decarbonisation concepts further and to demonstrate applications useful to achieving net zero.