As reported on November 20, 2017, the Australian Government is moving ahead with an AU$8 million project to explore an energy grid-focused blockchain solution.
The project's goal is to use a blockchain-based platform to reduce the carbon footprints of cities. Data analytics will be leveraged in conjunction with distributed energy grids and water systems to provide a backbone for interconnected cities of the future; the potential result would be a veritable blueprint for smart cities backed by blockchain technology.
Scheduled to span over two years, it is expected that the endeavor, coordinated by both public and private entities, will furnish a great deal of valuable data regarding the operation of municipal systems backed by a blockchain.
The project will launch in the next two months in the western coastal city of Fremantle. Its mayor, Brad Pettitt, spoke highly of the initiative:
"We are delighted to host this project in the City of Fremantle. This collaboration between existing infrastructure, renewable energy and innovative technology fits with our One Planet zero carbon energy target and will help us to secure the ongoing sustainability of essential services for communities that live here.”
The project derives AU$2.57 million from the government as a part of the initial rollout of its Smart Cities and Suburbs Program. The remaining AU$5.68 million stems from project partners including Curtin University, Murdoch University, Curtin Institute of Computation, LandCorp, CSIRO/Data61, CISCO, and Power Ledger. Additional support comes from Australian Energy Market Operator (AEMO), Western Power, and the CRC for Low Carbon Living.