Germany’s Federal Ministry for Economy selects IOTA Tangle as key technology for SUSEE project

  • IOTA’s data structure Tangle will power the smart energy sensor ecosystem SUSEE.
  • The SUSEE project aims to transform the energy industry along with getting positive results for others.

The IOTA blockchain network gets a major breakthrough! Germany’s Federal Ministry for Economy and Energy (BMWI) has selected IOTA’s Tangle as the key technology for its SUSEE Project.

Tangle, a popular data structure of the IOTA blockchain, will power the smart energy sensor ecosystem SUSEE. As a result, IOTA will conduct a non-nuclear research funding in the 7th Energy Research Program “Innovations for the energy transition”.

Furthermore, IOTA’s Tangle data network will connect with thousands of sensors ensuring resource-efficient energy distribution. The SUSEE project employs a conceptual design for smart metering solutions.

It also provides, “scalable solution for reliable and secure data transmission and processing in sensor networks”. Apart from just reforming the energy sector, the SUSEE project also aims to bring efficient results to other industries. Holger Köther, Director of Partnerships at the IOTA Foundation said:

Ensuring data integrity and data management encrypted and securely directly from the edge is the core DNA of IOTA. I am looking forward to working as part of a team of so many forward-thinking organizations, to demonstrate how IOTA is being used as a security and integrity layer for upcoming applications, where a distributed resilient IT infrastructure against attacks is key.

SUSEE – Smart Energy Networks

The SUSEE project involves multiple stakeholders. It’s a collaboration of the IOTA Foundation with other distribution network operators, research institutes, and others.

The SUSEE project deals with smart metering applications. The official announcement notes:

This solution will be realized on the basis of the IOTA distributed ledger protocol and the wireless network protocol LoRaWAN as well as the self-configuring WiBACK backhaul network. The project will comply with the standards of the German Federal Office for Information Security (BSI).

IOTA Foundation and key projects

The IOTA foundation has been involved in multiple projects catering to several industry requirements. Back in June, IOTA joined hands with GAIA-X consortium thereby helping in building the next-generation cloud infrastructure in Europe.

Read More: IOTA’s joint proposal selected by GAIA-X placing it among elite institutions focusing on federated and safe cloud infrastructure in Europe

The GAIA-X consortium has also secured a license to operate in Germany. The European economic giant has one of the toughest regulatory requirements in the world.

Last month, the Foundation also partnered with a Kenyan firm to bring paperless trade to East Africa. The partnership will help Trademark East Africa to replace the cumbersome paper-based projects in the country’s money supply. The two players will introduce an efficient digital payment system based on IOTA’s ledger data structure Tangle.

Interestingly, IOTA is also taking a deep dive into the rapidly emerging NFT market. The IOTA Foundation announced its NFT marketplace while reducing the entry barrier for new market participants.

It was a solid opening for the NFT marketplace with 966 users, 273 creators, 508 created NFTs and 3,700 successful biddings.

Read More: IOTA NFT marketplace records striking growth on debut week

About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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