Blockchain for renewable energy ready for industry

A Proof of Concept test will be the result a new partnership in European renewable energy market
08 March 2018   549

Today, March 8 European aggregated energy leader Energy2market announced a strategic partnership with blockchain-based renewable energy data and incentive platform. As the announcement suggests, a series of tests of Swytch blockchain protocol was conducted by e2m across its assets in Germany from January 2018. And the results indicate that Swytch platform and its protocol that is designed to verify and track renewable energy production, is ready for the Proof of Concept test - the main purpose of the partnership.

The idea behind Swytch is accelerate the adoption of the renewable energy. It uses ERC20 token to facilitate exchange of production data rights, a Proof-of-Production protocol to verify the data all the way from the source and an open source 'oracle' to collect the data and distribute awards based on the environmental impact. For larger energy producers such approach of tokenized awards poses tangible potential.

We firmly believe that blockchain technology can be used to unlock long-term value for Europe’s renewable energy assets. Today, renewable energies represent 31,5% of the total energy market in Germany but we have a goal of reaching 70% within 2050. Government-based incentive programs can only do so much, and a more dynamic option is needed. Additionally, some countries, like Germany, will begin phasing out their incentive programs in the next few years. We need to prepare for the future and identify new subsidy instruments and trading mechanism.

 

Andreas Keil

CEO, e2m

With Swytch as a partner e2m hopes to learn more about the blockchain platform and diversify its portfolio of existing programs with innovative alternatives. Upon that, Swytch is the kind of non-governmental organisation that can aid subsidizing new and existing assets in the renewable market. Overall, a competitive advantage is the direction e2m is taking with Swytch team-up.

Generating more than 3.5 Gw, e2m is one of the biggest direct marketers of energy in Europe. Swytch’s blockchain system is the only technology tested in gigawatts rather than megawatts allowing us to seamlessly integrate with e2m’s infrastructure. This gives Swytch the unique ability to verify production directly from the source. When compared to existing programs this will drastically reduce administrative costs and open up incentive mechanisms to residential properties which are the key to accelerated adoption of renewables. This positions Swytch as a central player in the global grassroots movement to reduce carbon emissions.

 

Evan Caron

Co-Founder and Managing Director, Swytch

ICOs to Lose Popularity, Diar Research Say

Diar assumes that in the future unregulated ICOs won't attract significant attention
11 December 2018   12

Although since the beginning of this year, ICO-startups have managed to raise over $ 12.2 billion, the November figure was only $ 65 million, according to data from a new study of the Diar portal.

According to analysts, the once popular method of financing, which allowed startups to attract tens and hundreds of millions of dollars in the absence of any product, exhausted itself against the background of fears about regulators' actions and the general dynamics of the cryptocurrency market, which did not leave retail investors with anything except for an unpleasant aftertaste.

This version is also supported by the data from the TokenData portal, which Diar leads in his research. Even with respect to the October levels, which constituted only a small fraction of what could be collected a few months ago, the November figures were 3 times lower.

Diar assumes that in the future unregulated ICOs as we have known them over the past years will no longer attract significant attention and will give way to regulated platforms of tokenized securities.