Blockchain improves the efficiency of energy markets by enabling transparent and traceable transactions worldwide today. It supports decentralized peer-to-peer trading, allowing direct exchange between energy producers and consumers. Blockchain's smart contracts automate processes like energy trading and grid management, optimizing resource allocation and reducing operational costs. Additionally, its secure, decentralized ledger ensures data integrity and boosts trust among market participants, fostering a more resilient and efficient energy ecosystem.
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How can blockchain improve the efficiency of the energy market?
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