Last Monday, the DoE announced the award of a $999,363 grant to Colorado-based blockchain startup Grid7.
The grant is just part of a total of $95 million the DoE will grant to small businesses across the country to advance the energy sector using new technology.
Grid7 already received a preliminary grant of roughly $150,000 during the program’s first phase in 2017. This brings the total grant to more than $1 million.
A Step Towards The Decentralization Of Power
A look at Grid7’s website reveals that their project wants to develop a decentralized solar power system that can share energy data from homes, buildings and electric grids in a distributed manner. The end goal is an efficient and secure power grid.
These efforts come in the wake of a push in the US for blockchain technology. Colorado is noteworthy in being one of the first states to begin legislation to build a blockchain friendly ecosystem.
In January of this Year, the Colorado State Senate proposed legislation allowing for the use of blockchain tech to replace Colorado’s existing data collection processes, in a bid to make state data more secure.
The bill was approved in May and took effect following the governor’s final approval.