Blockchain-based security architecture targets renewable energy trading

September 18, 2019 //By Julien Happich
Blockchain
Digital authentication technology provider Intrinsic ID has joined forces with enterprise blockchain solutions provider Guardtime to design a blockchain-based security architecture for a renewable energy trading system.

This distributed-ledger-based real-time energy marketplace for solar, wind and battery is in support of the city of Rotterdam’s “Digital Twin” initiative.
Rotterdam is creating a “digital twin” for the city, which will act as a platform for a new era of digital city applications. The digital twin is a smart 3D model of Rotterdam that accurately represents the streets, buildings, public spaces and other physical elements of the city. The critical nature of this marketplace demands best-in-class security, including a hardware-based root of trust powered by SRAM PUF – physical unclonable function – complemented by blockchain-based distributed ledger technology.
The project is funded under a contract awarded by the Dutch government and the city of Rotterdam, and managed by BlockLab, a subsidiary of the Port of Rotterdam. BlockLab develops use cases with alliances including engineers, developers and end users, with a focus on energy and logistics.
“We have demonstrated how Intrinsic ID’s SRAM PUF technology and Guardtime’s KSI blockchain technology create synergistically a strong solution for the renewable energy markets,” said Pim Tuyls, chief executive officer of Intrinsic ID”.
KSI Blockchain is an especially efficient method for issuing and verifying signatures which accelerates the scalability of SRAM PUF.
“We are thrilled to have worked on this project together and look forward to deepening our relationship with Intrinsic ID,” said Mike Gault, chief executive officer of Guardtime. “Traditional technologies such as PKI are completely impractical in a world of 5G networks and edge computing and new approaches, such as the combination of Intrinsic ID’s PUF technologies and Guardtime’s KSI Blockchain, will become increasingly more important.”
The project was prompted as an answer to a major challenge the region of Rotterdam faces, the suboptimal utilization of energy capacity. To address this, the Dutch government seeks to transform energy markets from closed and centralized to open and distributed.


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