Distributed Ledger Technology
Blockchain is a common Distributed Ledger Technology (DLT) and has been in use in the financial sector for several years. mSemicon has been using DLTs for securing IoT transmissions and in general for machine-to-machine (M2M) communications. The company has also been creating smart contracts between the devices it has created and the services they use through the blockchain.
mSemicon is a member of the CENTS consortium that was successful in December 2018 in securing €3 million in Irish Government funding as part of its Disruptive Technologies Innovation Fund. This project concerns the use of the blockchain in order to facilitate the orderly and profitable trading of electrical energy between members of a community.