ElaadNL , Dutch technology company has developed a proof of concept (PoC) for a smart power system for electrical vehicles using internet of things (IoT)-focused IOTA Tangle technology, as per the company’s announcement on February. 14.

Per the announcement, the PoC shows the flexibility of smart grids to not solely consume power, however also generate it and autonomously distribute it amongst community members. The initiative was based on IOTA’s Tangle technology, that supposedly lets the charging devices autonomously decide whether there's need to facilitate balance grid load.

In addition, the charging stations will earn a IOTA tokens by charging electrical vehicles at a lower speed or at an off-peak time. “The grid during this PoC can connect all devices to a specific area of the grid, together with the transformer supplying energy. If one or additional devices lowers its energy usage, they receive some tokens of the IOTA cryptocurrency,” the announcement any explains. Damage van den Brink, distributed ledger technology (DLT) expert at ElaadNL reportedly said:

“This PoC shows a possible future electricity system, wherever energy is shared amongst neighbours and decentralized islands are capable of balancing itself. We are using our electricity grid in total completely different approach than we did fifty years agone, we went from solely consuming to conjointly producing energy.”

ElaadNL could be a technology company established in 2009 by a bunch of grid operators with an aim to develop electrical vehicle infrastructure and supply smart charging to electric vehicles. Since its institution, the corporate has reportedly put in 3,000 public charging points at intervals The Netherlands.

In January, Danish state-owned energy company Energinet expanded its partnership with distributed ledger network IOTA to analyze the utilization of its technology in new areas. IOTA’s product providing is specifically geared to IoT, and Energinet appearance to make new solutions supported IoT for rising phenomena, like inexperienced energy and electrical vehicles.

In Dec 2018, Spanish renewable energy company ACCIONA Energía proclaimed its intention to deploy blockchain to trace electricity generation. ACCIONA and code startup FlexiDAO had been put together acting on the event of an advert demonstrator that tracks the provision chain of renewable electricity generation from 5 wind and hydro facilities in Spain to four company customers in Portugal.

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