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IOTA Joins Forces with Denmark's Energy Giant
Danish transmission system operator (TSO) Energinet has signed a Memorandum of Understanding with IOTA in order to utilize the Tangle. The partnership could be a stepping stone to Denmark’s full transition to green energy.
Facing the IoT disruption
Energinet, which is owned by the Danish Ministry of Energy, is an independent enterprise that is responsible for the security of the supply of electricity and gas in Denmark. As of late, Energinet started experimenting with such nascent technology as Blockchain and the Internet of Things (IoT) in order to increase its reliance on renewable sources of energy. IOTA, a project that is specifically focused on building a distributed ledger for the IoT, was the first Blockchain-powered startup that caught the eye of the Danish energy giant.
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Currently, Energinet is exploring possible use cases for IOTA Tangle in the Danish energy market. For instance, IoT-powered heat pumps could transfer energy to a heat sink when there is plenty of green energy in the power grid. In a long-term perspective, this will extend far beyond green energy – the IOTA technology could be used for building smart buildings and even smart cities.
Making Denmark even greener
Energinet’s André Bryde Alnor reveals that the main reason for the partnership was to eliminate the gap between progress in the IoT space and the ‘centralized’ European energy systems. Meanwhile, IOTA Foundation representative Wilfried Pimenta de Miranda adds that IOTA is ‘eager’ to serve as a catalyst for future progress in the energy sector by allowing Energinet to take advantage of their expertise in the sphere of data management.
It is worth mentioning that Copenhagen is already considered to be Europe’s greenest city. Denmark's gas grid is already one of the greenest in the world (40.5 percent wind and solar power). By 2035, the country’s gas grid could be filled entirely with green gas.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov