Siemens Partners With LO3 Building Blockchain Microgrids

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The largest engineering corporation in Europe Siemens AG has recently announced an energy collaboration with fintech startup LO3 Energy to create blockchain microgrids. The blockchain protocol aims to enable energy trades facilitated by a distributed ledger platform.    

Also read: Bitcoin and Its Blockchain Are Driving the Solar Energy Boom

Siemens Pairs up With LO3 Energy to Facilitate Brooklyn Energy Solutions on Blockchain

siemens_ag_logo-svgSiemens and New York startup LO3 Energy have formed a partnership to develop a new type of microgrid energy-based system. The German-based Siemens has introduced its next47 unit to bolster energy solutions based on emerging technologies. LO3 will be supported by Siemens Digital Grid and next47 to create a blockchain-based microgrid service in Brooklyn, New York.

“The constant evolution at the grid edge requires advanced control, automation and data analytics technologies enabling secure, stable and reliable integration of

Read more ... source: TheBitcoinNews