Ledger Partners With ENGIE To Provide A Blockchain Based Energy Data Solution
Cryptocurrency hardware wallet provider Ledger, announced its partnership with French energy service company, ENGIE to provide the first ever secured, autonomous and blockchain agnostic oracle for the energy sector. The device has been developed to record data from green energy stations including hydropower, wind turbines and solar panels on the blockchain. Decentralized applications built on these blockchains can then access this data on distributed networks.
The distributed nature of the oracle will allow users to connect different blockchains and dApps to these data with the security being key to offering a trustless peer to peer communication. The device will include a secure element and an anti-tampering solution to ensure the data placed on the oracle is trustworthy.
The oracle will be developed by some of the top minds in the two companies. Ledger hardware wallets have for the past few years been among the best hardware wallets in the world and such expertise will be needed to create the oracles. ENGIE on the other hand offers its talents in the energy industry to make the project a success.
The agreement will see a new green energy blockchain based solution developed to fuel the future energy service industry in energy traceability, peer-to-peer trading and crowdfunding on the platform. Ledger conducted a successful test net on some energy stations by installing prototypes of the oracle.
Speaking on the partnership with Ledger, Edouard Neviaski, CEO of ENGIE’s Global Energy Management Business Unit, which manages the Group’s activities on energy markets was ecstatic as well as focused on the goals set before them. The integration of blockchain to the company will be a step forward for the company as it aims at becoming the leading powerhouse in energy transition. Blockchain technology offers an immutable and public platform with quality data reliability and green energy traceability across the globe. He said,
“Investing in blockchain technology definitely serves ENGIE’s ambition to lead the energy transition; green energy traceability and data reliability are at the heart of this challenge. We do not only provide our clients with green energy, we also develop innovative and technological solutions to support them in their energy transition”.
Ledger CEO, Eric Larchevêque was pleased the two companies could come together to ensure sustainable and innovative green energy solutions are built. Ledger being one of the top cryptocurrency hardware wallets, the project will benefit from the best cryptographically secure systems in the current market, Eric said,
“ENGIE’s embrace of blockchain technology is forging a critical path forward in the future of energy. By enabling the decentralized collection of valuable green energy data, this blockchain-powered oracle has the potential to lead to numerous sustainable energy solutions.”