Energy Web Token partners with Deutsche Telekom: EWT price jumps

Energy Web, an upcoming blockchain project, inked a major deal with Deutsche Telekom, one of the biggest companies in the world. The deal saw Deutsche Telekom MMS join Energy Web Foundation’s ecosystem of energy majors by validating the network’s decentralized operating system.

This is a notable announcement since Deutsche Telekom is the sixth-biggest telecommunication company in the world. It’s subsdidiaries include well-known brands like T-Mobile, Slovak Telekom, Magenta Telekom, and OTE among others.

Energy Web, on the other hand, is a company using the blockchain technology to help in the energy transition. It provides solutions like enterprise asset management, data exchange, and green proofs. The company works with companies in industries like telecommunication, IoT, and automotive.

Other companies using Energy Web are Shell, EDF, Engie, Vodafone, and Filecoin, among others. In a statement, Jesse Morris, the CEO of Energy Web said:

“Established, trusted digital infrastructure providers like Deutsche Telekom are key players when it comes to helping some of the world’s largest energy companies digitize in order to manage increasingly renewable and complex energy systems.”

Energy Web is not the only company using blockchain technology to fight climate change. For example, ClimateTrade is a company that uses the blockchain technology to run a marketplace for carbon offsets. It uses Algorand’s technology.

This partnership explains why the Energy Web Token (EWT) price has jumped by more than 28% from the lowest level this month. Deutsche Telekom stock price also jumped by over 2% after the announcement.

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