SINGAPORE - Efforts to improve electricity supply networks worldwide could receive a boost with a new research centre in Singapore that can test digital versions of smart grid systems.
The Algorand Centre of Excellence at Nanyang Technological University (ACE@NTU) is tapping blockchain technology to develop an online platform for companies to trial these electricity supply systems.
By testing digital versions of smart grid systems, companies could save on costs to build physical prototypes, improve efficiency and reduce their carbon footprint.
NTU said the platform's underlying blockchain technology, which involves a decentralised digital ledger of transactions, will ensure data can easily be shared among researchers worldwide.
ACE@NTU, which started operating on Wednesday (Aug 17), will conduct four other blockchain research projects.
One involves researchers developing machine-learning technology for financial data management.
"A key focus for ACE@NTU will be to develop real-world...
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