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Blockchain Innovations for Energy Access

February 28, 12:30-2:00 PM EST, the World Bank Group will hold a meeting in Washington D.C. on levering blockchain innovation for the energy access. Coinify is thrilled to participate as an online presenter and contribute with knowledge on cross-borders blockchain payments.

Blockchain is a new foundational technology that has applications in multiple areas including energy. It has a potential to bring significant efficiencies in financial transactions, financial inclusion as well as alleviate corruption and financial risk. Blockchain has the most salient applications in developing countries where people struggle with having access to energy sources and being included in formal financial systems. Harish Natarajan, Lead Financial Sector Specialist from World Bank’s Finance & Markets Global Practice will be moderating the discussion.

According to the World Bank access to energy is essential for economic growth and eradication of extreme poverty. There are still about 1.1 billion of people in the world that do not have access to the electricity. Modern technology companies and energy providers can help reaching the sustainable development goal on energy and improve the quality of life for people in developing areas. To this end, the World Bank’s Energy Access Global Solutions Group organised an event with the presenters from the leading fintech and blockchain companies M-PAYG, Coinify and Chainalysis to discuss the potential of using blockchain technology as a tool for World Bank’s operations on energy access and related projects.  

energy access


M-PAYG is a tech company that improves access to the renewable energy for people living below the poverty by providing pay-as-you-go solar systems through affordable mobile money instalments. Asger Trier Bing, the CEO of M-PAYG, will provide his insights on how the company aims to make transactions using crypto-currencies and execute the payments contracts on blockchain.

Blockchain payments and trade platform Coinify allows cross-border payments. Blockchain payments incur minimal transaction fees, which is paramount for developing countries suffering from high transaction costs making trade economically unattractive. Mark Højgaard, the CEO and Co-founder of Coinify, will discuss the applications of blockchain within micropayments (a Proof-of-Concept developed at the Digital Lab together with the leading transaction company in Europe Nets) which can allow low cost payments between off-the-grid solar companies and people lacking access to energy sources.

Chainalysis, leading blockchain analysis and compliance provider worldwide, facilitates compliance at all the leading bitcoin exchanges and brokers. Through formal partnership with Europol and other international law enforcement agencies the company provides customer protection against cyber crime, anti money laundering and terror crime financing. Michael Gronager, CEO and Co-founder of Chainalysis, will share his knowledge on the critical role of customer protection that needs to be secured when implementing blockchain protocols in energy access projects.


How to attend

Event ‘Leveraging Blockchain Innovations for Energy Access’ is available to World Bank employees. However, it is possible for the external guests to attend. If you want to participate, you have 2 options to do so:

– On-site, please contact Dylan Tucker from World Bank to arrange a guest pass.

– Online, via webinar at this URL. Please use meeting # 738 731 183 and password SaTRd3FB.


Update: The World Bank event has been recorded and is available at this url.


Image credits: World Bank and Madi Robson (Unsplash)

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