Australia funds blockchain project for smart cities

The Australian government has launched an AUD $8-million project in partnership with Power Ledger to create a blockchain solution for energy grid management.

The project is focused on smart cities and aims to use blockchain technology to create more efficient usage of water and electricity.

By combining data analytics with a decentralised platform for energy grids and water systems, Australia hopes to create smart cities with a reduced carbon footprint.

The project will see a large solar power installation and rainwater treatment plant connected to commercial buildings, electric vehicle charging stations, and residences using blockchain technology.

The project will be implemented in the city of Fremantle.

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Australia funds blockchain project for smart cities