Qtum Foundation Partners With Energo Foundation For Clean Energy Production
Qtum Foundation announced that Energo Foundation has implemented Qtum blockchain platform in its latest cooperation with First Gen, the largest producer of clean energy in the Philippines, on the company’s blockchain microgrid project.
The move comes after the clean energy company entered into a cooperation agreement with the largest clean energy producer in the country, First Gen on its current blockchain microgrid project. First Gen is also cooperating with De La Salle University in Manila, the Philippines on the co-hosted ‘blockchain + new energy Workshop.
This is quite exciting for Qtum Foundation and the larger Qtum blockchain. The blockchain microgrid project is going to integrate and utilize Qtum’s standalone mainnet entirely. At the same time, this is the first energy blockchain microgrid project that will utilize Qtum blockchain.
Therefore, it is expected to be revolutionary for the cryptocurrency company as well as open the door for future adoptions in the energy industry and other industries too.
Kaikai Yang, founder and CEO of Energo Lab Foundation said,
“Through combining the decentralization of blockchain with solar cells, energy storage and other hardware, we hope to accelerate the power reform in off-grid areas and devote itself towards making clean electricity more accessible to residents in remote areas in the near future. We are delighted to partner with De La Salle University University on this case and wish to forge more partnerships with leading players in the cleantech industry,”
- On the De La Salle University campus microgrid project, Energo makes use of the decentralization of the blockchain to ensure that users between buildings can directly conduct peer-to-peer electricity transactions and that the supply and consumption of electricity in the building remains balanced. Meanwhile, the smart meter system can effectively record a series of transactions and ensure the security of data storage.
- Energo has also donated a hardware system to De La Salle University that can load 10 kilowatts in a bid to promote the use of green energy on the campus. The system is expected to save up to 1.2 million Philippine pesos in electricity expenditures over the next 20 years.
At the time of publishing this article, Qtum is ranked 18 with a market cap of over $1 billion and it is trades at $21.82
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