US Dept. of Energy Announces Fund for Blockchain Research Projects

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According to an announcement published, the U.S. Department of Energy (DOE) has announced funding of up to $4.8 million for universities working on R&D projects, including those related to the blockchain.

The funding is being made accessible through the department’s Office of Fossil Energy as a part of the “University Training and Research” initiative intended to develop fossil energy applications.

Project under the initiative are intended at accomplishing various objectives, including the development of early-stage technologies for more affordable domestic energy resources and enhanced electric grids, the department stated.

One of the areas being targeted for funding is blockchain tech that would ‘secure process signal data, and other data flows within distributed sensor networks for fossil-based power generation systems.’

Other potential projects which not involve blockchain technology include those that would explore advanced computing resources for coal plants to generate analytical results, investigate physical and biological sciences to measure chemical elements within coal fly ash and improve water reuse processes.

The department stated it funds R&D projects to reduce the “risk and cost” of advanced fossil fuel-powered energy technologies and make more sustainable use of fossil resources in the U.S.

It isn’t the first time that the department has explored blockchain tech for technological improvements. In January 2018, it collaborated with BlockCypher to develop solutions enabling energy transactions to be settled across multiple blockchains.

In July 2018, the department granted around $1 million to a Colorado-based blockchain startup Grid7 in a move intended to improve the development of a decentralized energy grid.