Blockchain will have big impact on electricity sector, KPMG asserts

A number of new technology developments are expected to impact the global electricity sector, including virtual and augmented reality, artificial intelligence, Big Data and the Internet of Things (IoT), however, tax, audit and advisory firm KPMG South Africa senior manager Nevellan Moodley says that blockchain is likely to have the most significant effect on the industry. Blockchain technology refers to a distributed network that is used to manage a growing list of individual records or blocks, each with a unique identification code.