The IOTA Foundation has recently joined forces with the public enterprise based in Denmark, Energinet in an effort to bring the energy ecosystem closer to the Internet of Things (IoT).
The two bodies inked an agreement to work together in exploring the use of IOTA Tangle for energy markets and domains of IoT.
The enterprise provides electricity and gas transmission services which also includes gas distribution and storage. Energinet has been looking into the use of distributed ledger technologies in the past to speed up their transformation into green energy.
The Danish company is now aiming to explore IOTA’s open-source, permissionless DLT, IOTA Tangle.
For those that aren’t familiar with IOTA Tangle, it was built with the future of the Internet of Things in mind by using the power of distributed ledger technology. Energinet has already taken part in IOTA’s Data Marketplace initiative which has been running just over a year from when it started in November 2017.
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