Siemens becomes even more interested in blockchain electricity

With the latest turbulence of the cryptocurrency market, the blockchain projects were driven out from top headlines. The process of engagement of companies with blockchain developers has not, as shown by this example of Siemens cooperating with LO3 Energy and reported by various financial media outlets.

Cooperating since 2016, Siemens and LO3 Energy worked together on the power grid of Brooklyn. Now Siemens is announcing  it invests in LO3 to strengthen the existing cooperation ties. Aside from the blockchain-based power grids, the latter company can make special energy consumption trackers with interesting stats sorting - for example, one can see how much power was consumed throughout the day instead of month.

LO3’s management, according to the media reports, made it clear that while they work with blockchain, their firm is not going to have an ICO. While the blockchain for energy is one of the most interesting applications of this technology, it practical implementation might prove difficult. Utility companies, which operate special underground tunnels with power lines across cities or electricity poles, might not be ready to just open doors for outsiders who want to install something strange in the system.