Blockchain-based security architecture targets renewable energy trading: Page 2 of 2

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.

The metropolitan region of Rotterdam and The Hague have a combined population of 2.2 million, with 1 million homes and 128 thousand companies – including the Port of Rotterdam, the largest port in Europe.
In Phase I of the joint project by Intrinsic ID and Guardtime, a cloud-based demonstrator with connected smart meters was developed, combining the core strengths of the two companies. Intrinsic ID’s BroadKey is a proven software solution for authentication of IoT devices such as smart meters. Authenticating smart meters securely at a hardware level by means of software, identifying every member in the network, brings the necessary level of IoT device security and makes it impossible for unauthorized devices to join.

Guardtime’s KSI Blockchain is used to ensure integrity and time of every event in the network – making them verifiable independently, regardless of vendors, distribution networks or service providers.
Phase II of the project goes beyond the proof of concept and is tackling the challenges of scalability and end-to-end security for this multiparty complex ecosystem of energy network. Intrinsic ID has worked on the Firmware-Over-The-Air secure updates of smart meters, allowing millions of smart meters to receive verifiable updates with the latest software and firmware libraries, system policies and network configurations. This enables managing millions of smart meters in a time-efficient and low-cost way by avoiding time-consuming manual efforts.
Intrinsic ID and Guardtime supported an extra security layer to support trustworthy communications. This allows the reading values of smart meters to arrive to a decentralized trading platform reliable and secure, without intermediate networking parties have access to them, and assuring that the smart meter cannot deny the authenticity of the measurements.
Guardtime - https://guardtime.com

Intrinsic ID - www.Intrinsic-ID.com

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