Energy Web, composed of companies utilizing decentralized open-source technologies to expedite the energy transition, is expanding its reach to Polkadot. This blockchain network is at the forefront of driving a better web, and Energy Web’s move will allow them to establish the framework for their groundbreaking technology called Energy Web X. Partners such as Shell, Vodafone, Volkswagen, and RMI can advance their decarbonization strategies with this new development.
Energy Web has an impressive history of collaborating with major energy companies and nonprofits in over 25 countries to create digital solutions. Their focus is divided into two main areas. The first area revolves around aiding electric utilities in digitizing and incorporating distributed energy resources within the grid. The second area concentrates on introducing unmatched transparency and verifiability to emerging green product supply chains, including renewable electricity that matches round-the-clock demand, sustainable aviation fuel, and sustainably produced Bitcoin.
To cultivate a thriving ecosystem centered around global energy transition, Energy Web is now vying for a parachain slot on Polkadot. Energy Web X will unveil more details at Polkadot Decoded, the network’s flagship summit, on June 28-29 in Copenhagen. A regulatory panel will also be held during the event, including Ana Trbovich, the Vice Chair of the Energy Web Foundation.
Recently, many well-known people from various fields, such as music, gaming, and accounting, have become part of the Polkadot network. The Energy Web X parachain will be added to the other projects based on the Polkadot Relay Chain.
By March 2021, 42 blockchains had integrated with the Polkadot platform and spanned several industries; these included decentralized finance (DeFi), privacy, social media networking, sustainability initiatives, non-fungible tokens (NFTs), gaming, and digital worlds. These interconnected chains operating as their platforms now support hundreds of web3 applications while taking advantage of synergies between them to develop new use cases, all while benefiting from the security benefits provided by Polkadot’s network.
As a global nonprofit organization, Energy Web develops open-source technology solutions to accelerate the clean energy transition. products are designed to help businesses, grid operators, and customers get the most out of clean energy sources by improving coordination in complicated energy markets.
Energy Web is built around a public blockchain for the energy sector, the Energy Web Chain, a tool for registering and tracking low-carbon products, and a data exchange platform. This ecosystem includes organizations such as significant electricity companies, green energy providers, organizations that manage the power grid, businesses that purchase large amounts of energy for their operations, car manufacturers, IoT technology suppliers, and leaders in communication technologies.
The Polkadot network, on the other hand, offers the technical advances necessary to make blockchain accessible, technology practical, scalable, future-proof, and interoperable. Such advancements might take Polkadot to new heights. To know more about its future, explore our Polkadot forecast.
Encourages new ideas and progress in decentralized technology by eliminating obstacles preventing people from getting involved. It helps make the dream of Web3 a reality, promoting development and fostering growth.
Polkadot is actively supported and developed by Parity Technologies, which consists of core engineers, blockchain innovators, solutions architects, and Rust developers. The Web3 Foundation and Parity Technologies collaborated to launch Polkadot in May 2020 with offices in Berlin, London, and Lisbon.