Atonomi, the blockchain-based arm of IoT security provider CENTRI Technology, announced Swytch, a renewable energy incentive platform built on the blockchain, will be the first organization to pilot the Atonomi Network, a crypto-security protocol that will enable advanced trust and identity validation for IoT devices. By integrating the Atonomi Network into IoT devices, Swytch will be able to fully secure its platform to effectively reward clean energy production for projects ranging from large-scale industrial power infrastructure to small residential assets.
Alongside its reward program, Swytch will capture data through IoT devices in order to track energy use and production, helping to address the challenges of reducing global pollution and energy costs. The Atonomi Network will provide the trust and security necessary for IoT device use cases of this scale.
“Both Swytch and Atonomi have ambitious yet achievable goals to utilize IoT devices to their full potential in order to solve real world problems in a way that is safe and secure,” Atonomi CEO Vaughan Emery said. “Swytch is the perfect candidate to pilot the Atonomi Network and demonstrate its ability to create identity and trust frameworks for interconnected devices that perform essential everyday functions – often with global benefits. Our advanced protocol will serve as the security solution Swytch needs to achieve its all-important mission of creating a sustainable and equitable energy future, the opportunities for which are endless.”
The Swytch platform will use open source algorithms to verify clean energy production and reward such behavior in the form of an ERC-20 compliant token. The aim is to incentivize investment in renewable and sustainable assets such as large-scale solar and wind energy projects in both smart cities and smart homes. The Atonomi Network will serve as the security infrastructure for the Swytch platform, ensuring advanced trust and identity validation for the connected devices within the Swytch network.
Swytch Co-Founder, Dr. John Clippinger, is also a member of Atonomi’s Board of Advisors.
“Building on our existing support network of cities, corporations, and environmentally conscious consumers interested in using our platform to reduce pollution and energy costs, we expect the integration of the Atonomi Network will only increase the motivation for potential partners and future users,” Swytch co-founder and managing director Evan Caron said. “Atonomi’s protocol will secure our platform and protect it from the dangers of unverified devices and hacks, providing a safe and efficient means of rewarding positive clean energy behavior.
“With Atonomi’s support, we hope to realize our goal of creating a circular economy in which positive, physical actions towards clean energy are digitized and stored, creating a viable reserve currency for staking local sustainability initiatives.”
In addition to the pilot, Atonomi and Swytch will collaborate on research to further explore the role of data reliability and security in the energy sector. The research will focus on how to secure energy networks on a device level to create resilience in energy infrastructure and build the framework for the development of smart cities. The aim is to determine how blockchain technology and tokenization can be used to create sustainable communities across the world.
“This collaboration will go far beyond a pilot project, and we are looking forward to participating in rigorous and academically sound recommendations on how to use blockchain technology for secure, sustainable development,” Mr. Emery said. “We hope the results of our research will further incentivize clean energy initiatives and help improve quality of life in every part of the world.”