Xage Security and ComEd to Demonstrate New Use for Blockchain
23 September 2019 - 6:52PM
Business Wire
ComEd, one of the nation’s largest energy delivery companies,
announced today it will partner with Xage Security, Inc. to
demonstrate how blockchain technology can enhance the security and
operational efficiency of electric systems as they integrate
distributed energy resources (DER), such as solar, storage, energy
efficiency and demand management.
Blockchains use multiple servers that operate like decentralized
record-keeping and verification systems. They’re seen as a
promising solution for energy companies bringing more DER onto
their systems and creating marketplaces offering an array of
Internet of Things (IoT) devices and innovative energy
services.
“ComEd is investigating how blockchain technology can provide
operational and security benefits while enabling the customers and
communities we serve to realize their sustainability and resilience
goals,” said Terry Donnelly, president and COO, ComEd.
“The growth of DER provides many potential values to the
distribution grid,” said Dr. Amin Khodaei, chairman of the
Electrical and Computer Engineering Department at the University of
Denver, and a ComEd partner on this demonstration project.
“Advanced control and communications frameworks enabled through
blockchain can help to further build the foundation for the
decarbonized, digitalized and decentralized grid while making it
more resilient from a cybersecurity perspective.”
"Grid modernization needs to be implemented with sophisticated
and comprehensive security solutions from the start," said Duncan
Greatwood, CEO of Xage Security, Inc. "Cyberattacks are becoming
more advanced and focused, bypassing network-level protection to
target specific industrial control systems. Smart grid
cybersecurity must protect every digital interaction.”
ComEd will conduct the blockchain demonstration project at its
Grid of the Future Lab. The company is using this state-of-the-art
laboratory to refine and demonstrate the capabilities of emerging
technologies and pilot projects, such as the microgrid ComEd is
building in the Bronzeville community on Chicago’s South Side and
other innovations focused on enhancing grid resilience and
sustainability.
About ComEd
ComEd is a unit of Chicago-based Exelon Corporation (NYSE: EXC),
a Fortune 100 energy company with approximately 10 million
electricity and natural gas customers – the largest number of
customers in the U.S. ComEd powers the lives of more than 4 million
customers across northern Illinois, or 70 percent of the state’s
population. For more information visit ComEd.com and connect with
the company on Facebook, Twitter and YouTube.
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