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Navigant Research Report Shows Nearly $700 Million in Cumulative Funding Has Been Invested into Energy Blockchain Development

Recent market developments are driven by a combination of uncertainty and barriers to transactive energy deployment

BOULDER, Colo.–(BUSINESS WIRE)–#Blockchain–A new report from Navigant Research tracks blockchain vendor market entries and exits, funding, investments, and project deployments in the energy industry.

Since 2015, startups, utilities, and technology companies have financed and deployed demonstration and pilot projects to determine whether blockchain can address pain points across the energy industry. As the technology slowly matures, the narrative that blockchain will fundamentally disrupt the energy system is giving way to a more pragmatic vision in which blockchain’s primary role is to make existing processes more efficient. Click to tweet: @NavigantRSRCH’s inaugural Blockchain Vendor and Deployment Tracker identifies 236 vendors, 254 projects, and nearly $700 million in cumulative funding invested into energy blockchain development across five global regions.

“Key findings from our analysis highlight the shift in focus away from transactive energy (TE) and peer-to-peer electricity trading toward pragmatic use cases with shorter maturity horizons and proven business models,” says Johnathon de Villier, research analyst with Navigant Research. “In particular, recent project deployments have focused on renewable energy certificates and guarantees of origin.”

According to the report, recent market developments are driven in part by market barriers to TE deployment despite continued interest from both vendors and potential customers. The shift in focus away from TE is likely also influenced by changes in funding patterns for blockchain vendors. Where poorly regulated, crowdsourced initial coin offerings (ICOs) were an important early source of vendor capital, more traditional capital investments from public and private sources now account for the majority of energy blockchain funding.

The report, Energy Blockchain Vendor and Deployment Tracker 3Q19, tracks blockchain vendor and project developments in the energy industry. It follows data from vendors and projects across five geographic regions and six market segments: supply chain, generation, wholesale, distribution, retail, and behind the meter. Where available, the report provides specific information on project partners and funding, project size, use cases, company status, and other data points. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant – A Guidehouse company, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

* The information contained in this press release concerning the report, Energy Blockchain Vendor and Deployment Tracker 3Q19, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant – A Guidehouse company undertakes any obligation to update any of the information contained in this press release or the report.

Contacts

Lindsay Funicello-Paul

+1.781.270.8456

[email protected]

Business Wire , 2019-11-21 10:17:36 ,

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NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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