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Conference discusses how blockchain would track solar power production
The ‘Chain of Things IoT, Blockchain and Security Conference’ was held earlier this month in London. The conference was attended by companies, nonprofits and consortiums that discussed how blockchain technology that underpins Bitcoin would be used to track solar power production, while Ethereum smart contracts could utilize the data.
CoinTelegraph reported that the conference featured a presentation of a full stack data-logger that connects multiple blockchains to the digital output of solar energy plants. It also assessed the potential use cases for the full stack.
In particular, the solar power case study was presented by the node and data-logger software producer Solcrypto, Bitseed, a plug-and-play Bitcoin full node device, and the SolarCoin Foundation which distributes SolarCoin to incentivize solar power production.
ElectriCChain, the blockchain behind the SolarCoin digital asset, gathers non-confidential Data related to solar owners. It aims to build a network of over 7million solar installations, according to IEA numbers reaching more than 200 million in 15-25 years.
“With solar energy, IoT and blockchains all on their own growth paths, we believe that this is a significant beginning to a new industry that could be phrased as ‘Blockchain-Energy’ with many applications from micro finance of small solar home systems in developing countries to rewards based mechanisms for large scale solar plants to increase their return on investment”, said co-founder of ElectriCChain Francois Sunnet, as quoted by CoinTelegraph.
Chain of Things is a think tank and blockchain IoT consortium. CoT was formed by a group of technologists at the nexus of IoT hardware manufacturing and alternative blockchain applications. Chain of Things is set up to explore all security applications within blockchain IoT and look at the development of open-standards for the industry to use.