Energy Internet: USA awards US $ 1 Million for Blockchain projects

The Department of energy of the United States of America grants a 1.05 million US dollars in heavy promotion for a Blockchain solution in the energy sector. The promotion comes to an IoT company that wants to create the "Energy Internet".

By Phillip Horch
13. August 2019BTC$11.401,00 -0.43%part Facebook Twitter LinkedIn xing mail

The Department of energy of the USA, especially for energy and nuclear safety is responsible. In addition to armor issues such as the nuclear weapons program, the production of nuclear reactors for the Navy and the disposal of radioactive waste, the Department also takes care of the issues of energy extraction and energy production. The development in the latter areas, the advancement with the Blockchain-technology – awards the Ministry of funding for promising companies.

Blockchain is reported to improve energy trading

As the Ledger's Insights, awarded by the Ministry in this connection, a 1.05 million US dollars in strong support of the IoT-company BEM Controls. This flows into the Blockchain-project with the name "Energy Internet". The company's platform is intended to allow owners of buildings to a more efficient energy trading. Users of the platform can obtain energy from different sources.

The Energy project works in conjunction with ComEd. This, in turn, is part of the Exelon Corporation, which supplies over 10 million customers with electricity and Gas. In addition, take part, according to the Ledger Insights the universities of Denver and Virgina on the program. Dr. Amin Khodaei, Chairman of the Electrical and Computer Engineering Department at the University of Denver:

The increasing diffusion of distributed energy resources requires progressive Management-a framework to support Peer-to-Peer communication and at the same time fast, scalable, and secure.

With the planned platform will also make it possible to keep the energy consumption of individual buildings look better. Because the Energy Internet project provides a real-time illustration of the current power consumption.

Decentralised energy supply through Blockchain

Just the property of the Blockchain, without a Central Institution to manage, makes the technology for the energy sector is predestined to appear. Because the technology is also used in the crypto-currency Bitcoin to be used, promises to be a large degree of transparency, safety and efficiency. The current trading peer-to-peer, so directly from the provider to the customer. The electricity market can arrange, therefore, for yourself.

By the additional use of Smart Contracts, the trade could also automate what promises to be a further efficiency gain in the Blockchain-energy trade.

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