The Australian government Doles Out $ 8 million for Blockchain Energy Pilot
The Australian government Doles Out $ 8 million for Blockchain Energy Pilot

The Australian government has announced that it will provide more than $ 8 million (approximately $ 6 million) for a block chain energy project.

For financing, a grant of AUD $ 2.57 million will go directly to the project, which will be established in the city of Fremantle. Other AUD 5.68 million will be provided through the project partners, including the blockchain company Power Ledger.

According to the company’s blog, the pilot will explore how cities can use blockchain technology and data analysis to power distributed energy and water systems. The study will be conducted with academic and technology partners, including Curtin University, Murdoch University, LandCorp, CSIRO and Cisco.

Curtin University will oversee project management and support the study.

According to Curtins Prof. Greg Morrison:

“We will develop a Smart Metering, Battery Storage and Blockchain trading system to enable energy and water efficiency among distributed critical infrastructures that would otherwise require a physical placement.”

Power Ledger, the later state, offers a renewable energy transaction platform, as well as the ownership model for the “district size” battery.

The federal grants will be provided as part of the government’s Smart Cities and Suburbs program, with the support of the Australian energy market operator (AEMO), Western Power and CRC for Low Carbon Living.

The pilot is expected to start in two months and will last two years, the Post said.

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