IOTA and ENGIE Join Forces to Develop Smart Energy Ecosystem

Distributed ledger technology (DLT) is changing the way energy ecosystems function on a city-wide level. Making strides in innovation, the IOTA Foundation and ENGIE Lab Crigen, a corporate research center, have partnered to produce new, smart energy ecosystems using blockchain, according to a blog post.

IOTA Tangle, IoT and Energy Ecosystems

Related: IOTA and Volkswagen Will Launch Blockchain-Enabled Cars in 2019

Under the terms of the agreement, ENGIE’s Computer Science and Artificial Intelligence Lab (CSAI Lab) will experiment with IOTA Tangle to develop joint proofs-of-concept to improve business processes and services related to energy.

IOTA Tangle is an open-source blockchain protocol designed to facilitate IoT interactions, frictionless micropayments and secure data transfer.

The protocol acts as the structure to IOTA’s decentralized data marketplace, which has been in operation since November 2017.

In the blog post, CSAI Lab Research Manager Philippe Calvez said:

 “Many works and proofs-of-concept have already been realized in the lab and we would like to participate in larger projects in France and abroad, in order to concretize and extend the use of innovative DLT technologies like that offered by IOTA in different business activities of ENGIE.”

ENGIE Lab Crigen is the research arm of ENGIE Group, an energy service provider for natural gas and electricity. The lab conducts research on new energy solutions and alternatives using innovations in AI, nanotechnologies and sensors.

Head of Business Development at the IOTA Foundation, Wilfried Pimenta de Miranda, added:

“The IOTA Foundation is excited to team up with ENGIE Lab to further accelerate the technology development and prototyping cycle through concrete pilots and international collaboration within the power and utilities industry. The IOTA team very much looks forward to scaling this cooperation. ENGIE Lab’s broad expertise and proactiveness in investigating new digital technologies and smart energy business models are real assets to our ecosystem.”

Specific launch dates for the IOTA-ENGIE partnership have not been disclosed.

Outside of the energy industry, IOTA is making further strides in blockchain integration. Earlier this month, IOTA revealed a partnership with Volkswagen to develop new decentralized solutions for vehicle manufacturing data transfer. Set for launch in 2019, the Digital CarPass is a performance data tracking protocol that ensures reliable, secure data collection for maintenance and efficiency improvement.

Cover Photo by Anna Jiménez Calaf on Unsplash

Posted In: , Technology
Invest with AMFEIX

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Jonathan Kim

Jonathan Kim

Former Journalist @ CryptoSlate

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.