VIENNA--(BUSINESS WIRE)--The shift from the centralised energy system with a small number of dominant bulk producers to a decentralised renewable marketplace with a multiway flow of information requires not only new business models and entities but also a guarantee that the data generated out of them are trusted and immutable.
RIDDLE&CODE laid the foundation for accelerating the future of decentralised energy by introducing the Trusted Gateway. At the core of the Trusted Gateway is the Secure Element, a part of RIDDLE&CODE’s “Built for Blockchain” product range, enabling the secure storage of the digital identity (private key) on any device through a combination of hardware and software. By providing secure public/private key infrastructure, the Trusted Gateway solves the problem of machine identity and creates a unique, cryptographically secured digital representation of an object, assigning it with identity, addressability and transaction capabilities.
“In the context of the energy system, by giving the digital identity to a distributed energy resource such as a PV plant, we can assure that green power is indeed green power, that the kW/h production per period is correct and interconnect various system components, such as power storing batteries, as to beneficiaries of the power output,” said Thomas Fuerstner, RIDDLE&CODE founder and CTO. “Our experience of working with leading utility providers such as Wien Energie and Energias De Portugal Brasil (EDP), showed that this could build innovative business cases, from new investment instruments like green bonds to micro investments into the power infrastructure.”
RIDDLE&CODE continues to develop products for the new era of distributed energy, with the Trusted Gateway at the forefront, empowering all participants in the ecosystem to benefit from the trusted and agile energy future.
RIDDLE&CODE is the leading European blockchain interface company that builds hardware and software stacks and brings trusted identity to objects and people. Together with its tier one clients and partners, RIDDLE&CODE creates new business models to financial markets, energy distribution, mobility and the Internet of Things.
More information: www.riddleandcode.com