- Global Telecoms firm, Vodafone, announced its partnership with Switzerland based blockchain startup, Energy Web (EW), to develop solutions for energy-smart devices.
- The partnership aims at improving the “integration of renewable and distributed energy assets on the power grids using blockchain and internet of Things (IoT).
In an official statement released Tuesday, EW confirmed its partnership with the London based telecommunications giant to incorporate IoT and blockchain in building secure IDs for energy assets. The project will use SIM centric blockchain tech (SCB) in a bid to provide a platform for users to quickly map and access their distributed assets on the energy grids.
The official Vodafone statement reads,
“This will provide a secure digital ID for every device and allow the decentralized energy assets to be safely integrated within a grid.”
Vodafone’s IoT extends operations in the energy industry
Vodafone’s expertise in the IoT space, having connected over 100 million smart devices, will be crucial in integrating assets such as wind turbines, batteries, heat pumps, solar panels, etc. on power grids efficiently. As the world turns to a green economy and more opportunities arising from the need to generate, store and even sell energy, the partnership between the two will open a new gateway to access these distributed energy assets.
Speaking on the latest partnership with Vodafone, Walter Kok, the CEO of Energy Web, 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.”
How will distributed energy assets fit into the grid?
To give grids the required stability to keep running users will be able to identify and validate the decentralized energy assets through the platform created on the Energy Web Decentralized Operating System (EW-DOS) using Vodafone Business’ IoT. Erik Brenneis, Vodafone Business IoT director said,
“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.”
“We are proud to work together with Energy Web to make this a reality.”
Since launching earlier in the year, the EWT token has seen massive growth with the latest partnership propelling it to all-time highs of $3.73 USD as at the time of writing.
A bold step into blockchain
Despite leaving the Libra Association in January this year, Vodafone’s journey in the blockchain industry has not stopped. The partnership with EW follows the multinational telecom firm’s alliance with IBM to create a blockchain based ID system on the company’s supply chain.
In March, Vodafone announced the extension of the project with IBM, launching a blockchain based “Know Your Supplier” platform to endorse and authenticate suppliers.