IOTA Tangle Gains Use Case with New Denmark Energy Giant Partnership with Energinet
The IOTA Foundation is set to start a partnership with Energinet, Denmark’s largest energy company. The goal of the partnership is to use the Internet of Things technology in order to integrate the Danish energy sector and to accelerate the transition to a greener energy system in the country.
According to official statements made by the IOTA Foundation, both entities have signed a Memorandum of Understanding (MoU) in order to help Denmark to make its full transition to green energy, something that is already a goal of the country for a while now.
The technology that will be used is IOTA Tangle, an open source distributed ledger that was created with the specific purpose of powering the Internet of Things devices. Energinet has chosen the company because of all its potential to help in the important transition.
Energinet is directly interested in using the IOTA Tangle technology in order to make the energy of the country greener with the help of this tech, which could increase the reliance on new sources of energy.
Currently, Energinet is exploring use cases for the technology in the market like heat pumps that could transfer energy from a heat sink from a green energy power grid. The technology could also be used in making smart buildings.
André Bryde Alnor, from Energinet, has affirmed that the main reason for the partnership was to eliminate the gap that exists between the more centralized energy systems currently being used in Europe and the innovation of IoT devices.
Copenhagen is already one of the greenest cities of the world and it looks that it will be even more now.
About The IOTA Foundation and Energinet
IOTA Foundation is the nonprofit company that develops IOTA, a cryptocurrency among the top 20 tokens by market cap at the moment. The foundation is registered in Germany and its mission is to support and development of the token and its distributed ledger, as well as its standardization. They are the creators of IOTA Tangle.
Energinet is a state-owned company run by the Danish Ministry of Energy. While it is independent, the company is directly linked to the government of Denmark and its function is to provide electricity and gas for the country.