February 21, 2024

Energy Web will leverage Polkadot’s interoperable multi-chain technology to bring decarbonization to Web3.

The Energy Web, the world’s largest ecosystem of companies using open-source, decentralized technology to accelerate the energy transition, is coming to Polkadot, the next-generation blockchain network powering movement for a better web.

The move will allow Energy Web to create a new technology framework called “Energy Web X”, which will help its partners, including major players such as Shell, Vodafone, Volkswagen and RMI, accelerate their decarbonization strategies.

Energy Web has developed digital solutions with dozens of major energy companies and non-profit organizations from more than 25 countries, focusing on two key areas:

First, Energy Web hopes to help utilities digitize distributed energy resources and integrate them into the grid.

Second, the Energy Web aims to bring deep transparency and verifiability to emerging green product supply chains—including 24/7 matched renewable electricity, sustainable aviation fuel, and sustainably produced bitcoin.

Energy Web CEO Jesse Morris commented:

“Energy Web and our global enterprise partners are committed to making clean energy an integral and widely available part of the world’s electricity system. To achieve this important goal, we decided to look for a Seamlessly upgradeable blockchain platform to ensure a secure and future-proof environment.

Polkadot excels in both with its shared security model and best-in-class core technology. We couldn’t be more excited about building the vertical energy transition on Polkadot. “

Add to:

“Energy Web X will be based on a network of worker nodes. Each of these will be a decentralized group of computers that collectively execute sensitive business processes that involve or affect multiple companies. Enterprises will be able to deploy thousands of coordinate them and allow the public to verify the results of their work.”

Björn Wagner, CEO of Parity Technologies, a major contributor to the Polkadot network, said:

“The energy transition vertical is the perfect use case to leverage the benefits of blockchain technology, and Polkadot is a market leader in this space. We are especially excited to see Polkadot bringing competitive advantage to initiatives and businesses, resulting in positive environmental and social impact .

When choosing to build a custom Polkadot parachain, Energy Web will gain the performance and security its industry partners demand, faster time to market, and access to Polkadot’s best-in-class interoperability. I’m excited to be working with the Energy Web team to accelerate the transition to clean energy. “

Energy Web will bid for parachain slots on Polkadot to build a thriving ecosystem focused on the global energy transition. Further details on Energy Web X’s plans will be revealed at Polkadot Decoded, the web’s flagship summit, in Copenhagen, June 28-29.

Ana Trbovich, vice president of the Energy Web Foundation, will also appear on the oversight panel at the event.

The announcement comes shortly after other big names in the music, gaming and accounting industries joined the Polkadot blockchain. The Energy Web X parachain will join many other projects building on the Polkadot relay chain. As of the end of Q1, 42 parachains have joined Polkadot, representing areas such as decentralized finance (DeFi), privacy, social media, sustainability, NFTs, gaming, and the metaverse. Many parachains are platforms in their own right, collectively hosting hundreds of Web3 applications.

Parachains help projects scale at scale by leveraging each other’s strengths to unlock new use cases and enjoy the shared security benefits Polkadot provides.

About Energy Web

Energy Web is a global not-for-profit organization with a mission to help businesses unlock business value from clean and distributed energy by developing and deploying open source Web3 technologies to accelerate the transition to cleaner, more renewable energy. It has partnerships with Shell, Engie, Elia Group, Singpower and AEMO.

About Polkadot

Polkadot is a network that provides the technological advancements necessary to make blockchain technology practical, accessible, scalable, interoperable, and future-proof. It removes restrictions and barriers to entry and drives innovation, expanding the decentralized technology space and bringing the Web3 vision to life.

About Qieven Technology

With offices in Berlin, London and Lisbon, Parity Technologies is comprised of some of the world’s leading blockchain innovators, core engineers, Rust developers and solution architects. It jointly launched Polkadot with the Web3 Foundation in May 2020 and continues to support and develop the network.

Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.