- Vodafone partnered up with a blockchain firm Energy Web to create a blockchain-based system for linking energy-generating devices with grids.
- Similar to telecoms’ method of tracking phones, it will track energy-generating assets on an international level.
- The partnership will combine subscriber identity module (SIM)-centric blockchain technology (SCB) with IoT connectivity from Vodafone Business.
Blockchain and it’s underlying principles used to develop smart contracts initially but has evolved to being used in every sector. From healthcare to supply chain, blockchain technology has the potential to disrupt any business it is adopted in.
As a result, telecommunication giant Vodafone partnered with blockchain startup Energy Web in a bid to integrate renewable and distributed energy resources such as wind turbines, batteries, heat pumps with power grids to “create secure IDs for energy assets.”
Using Internet of Things and blockchain, the project will aim to “combine SIM-centric blockchain technology (SCB) with IoT connectivity from Vodafone Business to create secure IDs for energy assets,” Vodafone said in a statement.
Inspired by the way telecom operators can identify mobile phones using SIM cards, Vodafone said that this project would “enable energy grid players to recognize distributed energy assets connected to their power grids,” which is “essential to maintain its stability.”
Being the first telecom partner that Energy Web has had, Vodafone – which boats of 100 million connections worldwide – will provide its connectivity, technology and international reach to achieve the end goal.
The telecom company is bullish about the project and states that its expert knowledge with respect to energy and blockchain will be increasingly valuable in years to come “as power grids around the world [will] increasingly digitalize and decentralize.”
Commenting on the announcement CEO of Energy Web Walter Kok 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.
“Bringing together EW’s expertise in energy and decentralization with Vodafone Business’s leadership in IoT creates a really powerful combination.”
Echoing a similar sentiment, director of Vodafone Business IoT Erik Brennei said that technology must be used “to help protect the planet and improve people’s lives.”
“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,” Brennei added.
“This connection needs to be simple and secure, ensuring assets are easily able to be connected to, and managed by, energy and communication networks around the globe.”
Indeed, as low-carbon devices continue to develop, integrating it with technology seems to be the solution for accomplishing sustainability.