US-based public utility NV Energy has signed a memorandum of understanding (MoU) with Blockchains to work on blockchain energy projects.

Under the MoU, the two companies have agreed to pilot blockchain energy projects that will enable the customer to control energy creation, consumption, storage, and transactions.

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Blockchains CEO Jeffrey Berns said: “The goal of this collaboration is to create technology solutions that will produce customer-centric energy platforms powered by public blockchain, all with the intent of integrating approved incubations into Nevada’s energy framework.

“These types of collaborative efforts, which return the power and control in transactions to the customer, are the very essence of blockchain technology. This partnership is only the beginning of what we have planned for Innovation Park.”

Under the deal, projects developed by Blockchains at its headquarters in Innovation Park in northern Nevada could be used to serve NV Energy’s 1.3 million customers.

"We are, in addition, excited about the many other undiscovered applications that public blockchain technology has the potential to make possible."

In addition, the Public Utilities Commission of Nevada (PUCN) will be presented with projects that are ready for implementation for approval.

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NV Energy provides a wide range of energy services to 1.4 million customers throughout the state.

NV Energy CEO Paul Caudill said: “We will explore a variety of out-of-the-box energy concepts to identify ways to improve the customer experience, including applications that further the use of energy storage, renewable energy and collaborative energy conservation.

“We are, in addition, excited about the many other undiscovered applications that public blockchain technology has the potential to make possible.”