Blockchain

DOE funds research work of Digital Assets in US

DOE

As per a leading news agency, DOE or the Department of Energy of the United States of America would be financing almost $4.8 million for research of crypto technologies including blockchain in US universities.

Particularly, the department of the office of energy for fossil has been behind this funding. Earlier last year, DOE released a notification of its interest in the funding of projects dealing in researches of latest emerging and developing technologies like blockchain and P2P for internet protocols with an intention to get raw data from sensors using fossil power generations. The particular systems developed, would be used to access data processed from the sensors and other unrecorded flow of information within networks for a sensor, distributed for power generation systems using fossil.

Peer-to-peer (P2P) networking is a distributed application architecture built upon the principle of the equality of participants. Commonly, P2P networks do not have dedicated servers, and every peer takes a part of the work. P2P systems have been used in many application domains but became popular after the launch of the P2P file sharing system called Napster. Today, P2P networks are known for being platforms for the development of cryptocurrencies, such as Bitcoin, Ether and many others.

In a special report, DOE stated that it looks forward to selecting almost 12 different projects from different areas for funding and currently it is planning as to how the funds would be allocated.

As per a report from Cointelegraph, earlier last December, Acciona Energía which is a Spain based energy company for renewable and is one of the largest renewable energy operators in the world would be in the process to make use of blockchain based technology for tracing generation of electricity.

Same time back, the government of South Korea’s stated that it was looking forward to investing around $3.5 million in building a blockchain based power plant which would be virtual in the city of Busan, having second most population in the country. The plant would be integrating the production capacities of all the energy sources in order to stabilize generation of power.

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