IOTA’s Smart Energy Solution With ENGIE

3 min read

IOTA has gone into partnership with ENGIE the French utility company that foresees electricity along with renewable energy solutions. IOTA will help in implementing distributed ledger technology (DLT) into a Smart Energy Ecosystem with the help of ENGIE.

IOTA’s Tangle innovation has been a go-to for many organisations involved in the energy and even automotive sectors.  The Tangle is a third generation distributed Ledger (DLT) which is based on a directed acyclic graph designed to facilitate Internet of Things (IoT) interactions, frictionless micropayments and a more secure data transfer thus solving problems of tomorrow.

The official blog post of IOTA highlights that a Memorandum of Understanding (MoU) has signed between IOTA and ENGIE’s Computer Science and Artificial Intelligence Lab (CSAI Lab). Therefore an overall development of a joint proofs-of-concept to improve business processes and services related to energy will be taken into consideration.

ENGIE Lab Crigen researches on new energy solutions using innovations in Artificial Intelligence and has a long-standing history already with IOTA.

ENGIE CSAI Lab’s 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.”

IOTA has been broadening Blockchain in many ways including a collaboration with Volkswagen for exchanging information in regards to vehicle execution which is under the name of ‘Digital CarPass.’ The Digital CarPass is a performance-based data tracking protocol which will make sure the data collected is secure and reliable for improving services.

Twitter user ‘Florian Köhler’ asked why Ethereum was valued higher when IOTA was making partnerships with companies such as ENGIE which has 153,000 employees and a revenue of $66 Billion.

A hard-hitting fact was replied by ‘Torsten Heissler’ in response stating that the IOTA token is not being used so far and thus cannot be compared to Ethereum.

IOTA is currently ranked 12th with a price of $0.534514 and a Market cap of $1,485,698,130  according to CoinMarketCap at the time of writing.

 

Elite CurrenSea

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