Home CryptoNews Germany's Federal Energy Agency Partners With a Blockchain Company to Develop Identity...

Germany’s Federal Energy Agency Partners With a Blockchain Company to Develop Identity Registry System

Deutsche Energie-Agentur (DENA) decided to partner with Energy Web to develop a prototype identity registry system. Germany’s primary energy agency will work with that blockchain company to create the needed decentralized infrastructure that helps all of the players in the market. More than 20 other firms will partner in the new initiative that results in a registry for distributed energy resources (DERs).

Decentralized Systems Improving Energy Marketplaces

Energy Web has partnered with other government organizations before. They have developed a similar system for Austrian Power Grid, Elia, and 50 Hertz in Austria, Germany, and Belgium. With the new prototype in action, energy assets like thermostats, solar PV systems, batteries, and charging stations of electric vehicles can be registered automatically using a decentralized ledger system.

Digital identities can solve many of the problems in the way of fully implementing decentralized systems. According to Philipp Richard, energy systems and digitization lead at DENA, “there are still a number of tasks ahead of us for the successful implementation of a decentralized and digital energy system. Digital identities are very important to ensure that the automatic exchange of information from millions of producers, storage systems, and consumers is secure and reliable. One promising solution is an identity ledger that is being tested on blockchain technology. It could provide great insight into constructing a digital market design.”

Energy Web has an open-source product named Decentralized Operating System (EW-DOS) designed to address decentralized energy grids’ specific needs. The new system for DENA will use this blockchain-based software combined with Parity Substrate client and KILT Protocol.

Working with a federal agency in Germany is an excellent opportunity for Energy Web to broaden its reach. They can also show the possibilities of blockchain technology to the world by working with a large organization.

“This is an incredible development, not just for Germany but for the global energy sector,” said Jesse Morris, CCO of Energy Web. “Now we have the power sector of the fourth-largest economy in the world taking decisive steps toward a digitalized, decentralized future.”

If you found this article interesting, here you can find more Blockchain and cryptocurrency news

Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
- Advertisment -