- Partnership to expand Tangle use case base
- Energinet has sought to promote green energy
- Denmark will use Tangle for other IoT projects
The IOTA Foundation has inked a deal with the Danish transmission system operator (TSO) Energinet. The partnership is intended to use the Internet of Things (IoT) to integrate the Danish Energy sector become a stepping stone to Denmark’s full transition to green energy.
An official blog post by IOTA Foundation on January 30, 2018, states that both organizations signed a Memorandum of Understanding (MoU) that will help promote Denmark’s desire to make a full transition to green energy, a subject that the country has been pursuing seriously for a while now.
A Much-anticipated Transition
According to the MoU, IOTA will use its Tangle technology, the open source distributed ledger, and which it calls an improvement of blockchain technology that it created to power the Internet of Things devices.
Energinet says it settled on IOTA as a result of the technology’s potential to help them during the much-anticipated transition. Energinet’s marketing developer André Bryde Alnor stated:
“As part of our journey to a digitized, green energy system, we know that we have to bridge the gap between the fast developments in IoT technology, being implemented on both household and industry level, and the centralized systems of the European energy system.”
Extend Tangle Technology Use Cases
Energinet is interested in IOTA’s Tangle technology in particular as a possible use case of trying to increase the country’s reliance on green sources of energy. As an example, IoT powered heat pumps can be used to transfer energy to a heat sink any time it senses the presence of too much energy in the power grid.
The long term picture, however, is to extend the technology’s use over and above green technology since the technology could be useful for smart cities, smart cities, autonomous vehicles, self-reliant supply drones, and sensible factories – all made of and operated via machines.
IOTA’s Tangle technology is the pioneer open-source ledger technology that’s been specifically designed to power the future of the Internet of Things using feeless micro-transactions and data integrity for connected machines and devices. The Berlin-based IOTA has been running the Data Marketplace Initiative since November 2017 in collaboration with Energinet and a several other IT and Industrial companies. Commenting on the partnership, IOTA Foundation’s Business Development Director Wilfried Pimenta de Miranda stated:
“IOTA Foundation develops a cost-efficient and scalable protocol that can enable Energinet’s ambition regarding developments across identity management, data access delegation, digital twins and data marketplaces. To make this happen, IOTA is eager to catalyze Energinet’s effort in research and experimentation within both tech and behavioral design. We look very much forward to shaping together an open and collaborative ecosystem.”