Energy Web has struck a partnership with Ocean Protocol to achieve seamless integration of its decentralized operating system with the latter’s artificial intelligence-powered data marketplace. This integration will be achieved in creating a bridge that will bring together the distinctive capabilities of both these organizations.
The philosophy behind the creation of this bridge is quite simple. The bridge will enable the data transfer from various stakeholders in the ecosystem of distributed energy resources (DERs) to the Ocean. Irrespective of your status, i.e., whether you are a customer, grid operator, or vendor, you can transfer data to Ocean. This data will then be analyzed by the advanced Artificial Intelligence (AI) and Machine Learning (ML) mechanisms of the Ocean, resulting in insightful information about important parameters related to the grid optimization and users’ consumption pattern. All these insights can be then used by the DERs to enhance the level of integration of various processes, mechanisms, and IoT devices to enhance overall process efficiency and profitability.
Rationale of Partnership
Pressing on the need to utilize DERs optimally, Chief Technology Officer of Energy Web, Micha Roon, emphasized that the new bridge will make the energy sector more vibrant and evolve while enhancing its overall efficiency. All this will be done without compromising on the privacy aspect of users.
Some of the potential areas where these particular collaboration benefits are expected to manifest its beneficence include improved dispatch capability, effective services for electric vehicles (vehicle to grid service), and efficient interaction between the transmission system and distribution system, among others. It is important to note that the optimization of DERs has been one of the important concerns of governments worldwide. The US has been focusing hard on enhancing the efficiency of DERs under its National Renewable Energy Laboratory initiative.
This initiative is for an ambitious target of defining a new benchmark in the energy sector on how the private data can be monetized different energy domains while gaining insightful information to enhance their efficiency. The telemetry data from the Energy Web will be tokenized with the help of Ocean V3 Datatokens, which, in turn, will help these tokens to become a credible player in the decentralized finance (DeFi) domain.