Atonomi Announces Pilot Program with Swytch to Build a Secure and Sustainable Energy Future
Seattle, Washington – January 15, 2017 – Atonomi, the blockchain-based arm of leading IoT security provider CENTRI Technology, has today announced that 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 invaluable data through IoT devices in order to track energy use and production, helping to address the goliath 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.
Vaughan Emery, CEO of Atonomi, said, “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. 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.
Evan Caron, Swytch Co-Founder and Managing Director, said, “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. 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 in a research capacity 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. 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,” added Emery.
Atonomi is the creator of the Atonomi Network, which will offer blockchain-based security protocol for the Internet of Things. The Atonomi Network will provide a secure and immutable blockchain-based identity and reputation service for IoT devices, and securely store device-to-device transactions into an irreversible ledger of things. Atonomi’s parent company, CENTRI Technology, is the creator of IoTAS – Internet of Things Advanced Security.
At its most basic level, Swytch serves as an additional incentive for clean energy producers and fills a gap in today’s market for verified renewable energy consumption. To do so, Swytch will use open source technologies and algorithms to verify and reward clean energy production. The reward will be in the form of an ERC20 compliant crypto-token that aims to incentivize investments in a wide range of renewable and sustainable assets, such as rooftop solar, distributed utility solar, large-scale grid scale solar projects, wind projects, and storage systems.