February 24
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YEREVAN. – Engineers at the National Instruments company subsidiary in Armenia have introduced a new algorithm for paying for solar energy electricity by way of crypto currency. The respective model was introduced at the 13th annual DigiTec Expo 2017 international technology exhibition in capital city Yerevan.

Aram Soghoyan, a specialist from this subsidiary, told Armenian that, theoretically, this system can be applied in “business-consumer’ calculations.

The advantage of calculation with crypto-currency is that the database with such conditions is distributed among different users, and therefore it is difficult to crack, or break into such database.

The “smart contract” algorithms that are designed in Armenia have caused an interest in Russia, from where orders have already been placed for taking part in “smart city” projects.

Solar energy electricity payment contracts have been adapted as an option for the demonstration of this project.

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