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Experts from MIT are hosting an event next week to explore the potential blockchain technology could have in making electricity markets cleaner and more efficient.

Cambridge chapter of the MIT Enterprise Forum will bring together experts including Joi Ito of the MIT Media Lab and Paul Brody of Ernst and Young for the blockchain transitioning energy industry event on Monday 22 February. They will be joined by a distinguished panel of emerging technology, blockchain, and energy industry leaders to discuss the intersection of energy grid transformation and distributed ledger technology.

Scott Clavenna of Greentech Media will moderate a panel consisting of Joi Ito, Paul Brody, Ed Hesse of Grid Singularity, and Lawrence Orsini of LO3 Energy. The event will tackle questions such as "How can cleantech enterprise and industry leverage the blockchain for innovation?" and "What are the new models for growth?".

Joi Ito, director of the MIT Media Lab and founder of the MIT Digital Currency Initiative said in a statement: "I believe that the blockchain will transform accounting, law and banking in the same way the internet transformed advertising, commerce, and media."

Scott Clavenna, CEO of Greentech Media said: "When the MIT Enterprise Forum introduced me to blockchain, I quickly became intrigued at the possibilities this new concept could hold for the energy industry. New technological platforms and business models need vetting as the electrical grid begins the transition towards renewable and distributed energy resources."

Chris Taylor of NRG, the primary organiser of the event added: "our team has been working on this event for about a year and are proud to be the first to present to the world what we think will be one of the most powerful relationships between an emerging technology and a transforming industry."

The event is organised by the The MIT Enterprise Forum's Cleantech Committee, with sponsorship from GuardTime, ConsenSys, and MassCEC.