DUBLIN, February 19, 2016 /PRNewswire/ --
The global Bitcoin technology market is estimated to grow at a CAGR of 7.26% over the 2015-2020 period, as stated in a recent report available from Research and Markets. The report notes the key benefits of using this technology, including lesser transaction fees, no third party involvement and of course the security and privacy that comes with using a decentralized cryptocurrency. However, the predicted growth could be higher than expected, as it was revealed today that a Bitcoin enabled smart plug could help homeowners save money on their electricity bills.
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Bitcoin utilizes an automated ledger known as a blockchain to keep track of where coins are spent. Multinational company Accenture has developed a blockchain-based smart plug, which seeks out and signs up to the cheapest available tariffs. Accenture believe that the smart plug could benefit those who pay directly for power, especially those on low incomes.
The global smart grid home area network market is expected to grow at a CAGR of 15.1% by 2019, according to a recent report. The adoption of Bitcoin enabled energy devices could result in a greater growth in this market. The global smart meters market is set to reach a value of USD 18.2 billion by 2019, as predicted in another industry report, but again this figure could be higher thanks to said devices.
The introduction of finance tracking smart energy devices should result in better buying decisions among homeowners. Cryptocurrency offers users more flexibility than traditional money, and encourages a greater level of scrutiny when it comes to financial dealings and purchasing services.
For further information on this topic, and a full list of all related documentation, please visit the Bitcoin section at http://www.researchandmarkets.com/rm/LQJO.
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