Power Ledger has announced a new multi-million dollar partnership with the Australian government to test how cities can integrate the blockchain with energy and water systems.
Australia will provide $2.57 million for a trial run in the city of Fremantle. In addition, $5.68 million will be funded through Curtin University, Murdoch University, Curtin Institute of Computation, LandCorp, CSIRO/Data61, CISCO and Power Ledger.
Here’s how the test will work, according to Power Ledger:
“The trial will involve highly resilient, low-carbon and low-cost systems installed and connected using blockchain technology. A large solar photovoltaic (PV) plant, rooftop solar PV panels, a precinct sized battery, an electric vehicle charge station and precinct water treatment and capture systems will be orchestrated using blockchain technology and data analytics, and demonstrate the interconnected infrastructure of future smart cities.
Onsite energy generation at water treatment systems will also circumvent the need for costly distribution overhauls, as they are due for a $3 million upgrade to increase capacity. The project will provide the community with financial and service sustainability while still engaging the private sector.”
Power Ledger says its will supply the transactional blockchain trading system for the renewable assets and the ownership model for the community owned battery.
The project is set to begin in about two months and will last for approximately two years.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix