IOTA Blockchain To Help Danish Energy System
Energinet, the state energy company from Denmark, has entered into an agreement with the IOTA crypto platform to explore and apply its capabilities in the power industry and other spheres. This information was published on the IOTA's blog.
Energinet is a company overseen by the Danish Ministry of Energy, Utilities, and Climate. The main goal of the partnership is to find out how the IOTA Tangle technology can be applied in the energy market and the IoT.
In 2017, the companies have already collaborated on a large-scale project to monetize data using distributed ledger technology, which attracted other market participants.
On the way to creating a digital and environmentally friendly energy system, it is necessary to close the gap between the rapid development of the IoT technology, which is being introduced into industrial companies and households, and the European centralized energy systems, Andre Bryde Alnor, Energinet's market development officer, stated.
IOTA develops IoT-oriented products that are within Energinet's areas of interest, including the green energy and electric vehicles. Besides, the cooperation will be focused on the initiatives to create smart cities and buildings.
As previously reported, the Japanese IT company Fujitsu has successfully completed the testing of a blockchain solution related to the redistribution of electricity flows.