Netherlands-based tech company ElaadNL has devised a PoC for a smart grid using IOTA Tangle technology.
Dutch technology company ElaadNL has developed a Proof of Concept (PoC) for a smart power grid for electric vehicles using internet of things (IoT)-focused IOTA Tangle technology, according to the company’s announcement on Feb. 14.
Per the announcement, the PoC shows the ability of smart grids to not only consume power, but also generate it and autonomously redistribute it amongst community members. The initiative was based on IOTA’s Tangle technology, which purportedly lets the charging devices autonomously decide whether there is need to help balance grid load.
In addition, the charging stations can earn a IOTA tokens by charging electric vehicles at a lower speed or at an off-peak time. “The grid in this PoC will connect all devices to a particular area of the grid, along with the transformer supplying energy. If one or more devices lowers its energy usage, they receive a few tokens of the IOTA cryptocurrency,” the announcement further explains. Harm van den Brink, distributed ledger technology (DLT) expert at ElaadNL reportedly said:
“This proof of concept shows a possible future electricity system, where energy is shared amongst neighbours and decentralized islands are capable of balancing itself. We are using our electricity grid in total different way than we did 50 years ago, we went from only consuming to also producing energy.”
ElaadNL is a technology company established in 2009 by a group of grid operators with an aim to develop electric vehicle infrastructure and provide smart charging to electric vehicles. Since its establishment, the company has reportedly installed 3,000 public charging points within the Netherlands.