Vodaphone, a British telecommunications company, has partnered with Energy Web to build a new blockchain-based platform that should link energy devices, according to Invezz.
Energy Web is a nonprofit organization looking to push “customer-centric electricity” and this partnership should push that forward. Vodaphone is already a leader in the Internet of Things (IoT) space, according to a blog post from the group.
“Similar to the way telecom operators securely identify mobile phones using SIM cards, the partnership will enable energy grid players to recognize distributed energy assets connected to their power grids.”
Speaking on the matter is Walter Kok, the CEO of Energy Web, who had said:
“We are seeing the convergence of multiple sectors in making the energy transition happen — the energy sector, of course, but also automotive, telecoms, and even finance. From our perspective, the energy sector can only evolve so fast and so far without taking into account IoT connectivity. Bringing together EW’s expertise in energy and decentralization with Vodafone Business’s leadership in IoT creates a really powerful combination.”
As you may know, blockchain technology allows for the connection of multiple devices without the need for a central authority. The network is self-governing, and users should be able to utilize shared energy as they see fit.
Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Credit: Source link