When giants join startups. Siemens became the member of a Blockchain project for saving energy

The German concern Siemens took part in TransActive Grid – a project created by a New York-based startup LO3.

It was developed on the Blockchain base Ethereum and became popular in spring, 2016 when 2 Brooklyn residents started exchanging electricity received from solar panels.

The aim of the project is to enable people to efficiently use green energy by exchanging redundant resources directly with each other.

Representatives of energy department in Siemens are sure that cooperation with startup – the usage of the systems controlling micro grids in combination with Blockchain – will improve company’s collaboration with clients.