US Department of Energy approves energy security blockchain

The US Department of Energy has allocated a grant worth more than $ 1 million to InfoBeyond Technology, which is developing a blockchain-based system for energy security.

The Gridchain project uses blockchain to improve the security of the national power grid and protect data from possible cyber attacks. Gridchain will be the first blockchain integration in the Open Field Message Bus (OpenFMB) architecture, which is used by the North American Energy Standards Council (NAESB) to provide distributed monitoring of the power grid and interoperability. The introduction of the blockchain will reduce the centralization of electric grid management.

“Blockchain-based Gridchain technology is used to ensure the integrity and immutability of power system data and provides an infrastructure with a whole new level of resistance to cybersecurity threats,” said InfoBeyond founder and principal researcher of the project, Bin Xie.

He also said that the company investigated several solutions, but all of them were subject to the same problems. The researcher noted insufficiently effective and scalable blockchains, as well as problems in the field of smart contract security and data flow integrity. 

The US Department of Energy grant will be directed to the implementation of the second phase of the Gridchain project, in which prototypes of systems will be developed and work processes specified. The deployment of the second phase of the project will take up to two years.

Recall that at the beginning of 2019, the U.S. Department of Energy allocated a grant of $ 4.8 million for university research in the field of new technologies, including the blockchain.

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