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Energy Web will leverage Polkadot’s interoperable multichain technology to bring decarbonization to Web3.
Energy Web, the world’s largest ecosystem of companies using open source, decentralized technologies to accelerate the energy transition, is coming to Polkadot, the next-generation blockchain network powering the movement for a better web.
The move will allow Energy Web to create the framework for a new technology, dubbed ‘Energy Web X’, which will help its partners, including major players such as Shell, Vodafone, Volkswagen, and RMI - accelerate their decarbonization strategies.
Having developed digital solutions with dozens of major energy companies and non-profit organizations from over 25 countries, Energy Web is focused on two key areas:
Firstly, Energy Web wants to help electric utilities digitize and integrate distributed energy resources into the grid.
Secondly, 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.
Jesse Morris, CEO of Energy Web, commented:
“Energy Web and our global enterprise partners are collectively on a mission to make clean energy an integral and widely-accessible part of the global electricity system. To achieve this important goal, we decided to search for a blockchain platform that offers real enterprise-grade security and seamless upgradeability to ensure a safe and future-proof environment.
Polkadot excels on both of these fronts with its shared security model and best-in-class core technology. We couldn’t be more excited to build out the energy transition vertical on Polkadot.”
“Energy Web X will be based on worker node networks. Each of these is a decentralized group of computers jointly executing sensitive business processes that involve or impact multiple companies. Enterprises will be able to deploy thousands of independent worker nodes, coordinate them in cohesive networks, and allow the public to verify the results of their work.”
Björn Wagner, CEO of Parity Technologies, a leading contributor to the Polkadot network, said:
“The energy transition vertical is a perfect use case to take advantage of the benefits of blockchain technology, and it’s a space where Polkadot is well positioned to be a market leader. We’re especially pleased to see Polkadot bring competitive advantages to initiatives and enterprises making a positive environmental and social impact.
In choosing to build a custom Polkadot parachain, Energy Web will get the performance and security its industry partners require and faster time to market and access to Polkadot’s best-in-class interoperability. I’m excited to partner with the Energy Web team to accelerate the transition to clean energy.”
Energy Web will launch a bid for a parachain slot on Polkadot to build a thriving ecosystem focused on the global energy transition. Further details about Energy Web X’s plans will be revealed at Polkadot Decoded, the network’s flagship summit, in Copenhagen, June 28-29.
Ana Trbovich, vice chair of the Energy Web Foundation, will also appear on a regulatory panel at the event.
The announcement comes soon after other big names from the music, gaming and accounting industries joined the Polkadot blockchain. The Energy Web X parachain will join the many other projects built on the Polkadot Relay Chain. By the end of Q1, 42 parachains had joined Polkadot, representing sectors such as decentralized finance (DeFi), privacy, social media, sustainability, NFTs, gaming, and the metaverse. Many of these parachains are platforms in themselves, collectively hosting hundreds of Web3 applications.
Parachains help projects expand at scale by leveraging each other’s strengths to unlock new use cases and enjoy the shared security advantages provided by Polkadot.
About Energy Web
Energy Web is a global non-profit on a mission to accelerate the transition to cleaner, more renewable energy sources by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources. It has partnerships with Shell, Engie, Elia Group, Singapore Power Group, and AEMO.
Polkadot is a network that provides the technical advances necessary to make blockchain technology practical, accessible, scalable, interoperable and future-proof. It removes limitations and barriers to entry and fuels innovation, growing the decentralized technology space and bringing the Web3 vision to life.
About Parity Technologies
Parity Technologies has offices in Berlin, London and Lisbon, staffed by some of the world’s leading blockchain innovators, core engineers, Rust developers, and solutions architects. It launched Polkadot in tandem with Web3 Foundation in May 2020 and continues to support and develop the network.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.