Vodafone partners with Energy Web blockchain firm
|- Vodafone has recently joined forces with the Energy Web (EWT) blockchain company.
- The partnership aims to connect distributed energy, generating assets to grids using blockchain technology.
- With over 100 million connections across the world, Vodafone is a global leader in the Internet of Things (IoT).
Vodafone has partnered with blockchain startup Energy Web (EWT) in a bid to connect “billions” of distributed energy generating assets through internet-of-things (IoT) and distributed ledger technology (DLT).
EWT recently revealed that it will combine SIM-centric DLT with IoT connectivity provided by Vodafone Business to “create secure IDs for energy assets.” As per the firm, this “means that renewable and distributed assets like wind turbines, batteries, heat pumps, and solar panels can be integrated with energy grids safely and efficiently.”
With over 100 million connections across the world, Vodafone is a global leader in IoT. The two companies are planning to jointly develop a system for grids to identify and track distributed energy sources. This is inspired by the way telecom operators securely identify mobile phones using SIM cards. The smart grid system will be underpinned by Vodafone’s IoT technology and the Energy Web Decentralized Operating System.
Energy Web chief executive Walter Kok 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.
Erik Brennei, director of Vodafone Business IoT, stated:
As the number of decentralized, new-generation, low-carbon devices grows, so does the need for them to be securely connected regardless of their location. This connection needs to be simple and secure, ensuring assets are easily able to be connected to, and managed by, energy and communication networks around the globe.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.