Verv becomes Energy Web Foundation Affiliate as we join forces to pioneer the transition towards a new energy landscape

We are pleased to announce that Verv has become an Energy Web Foundation (EWF) Affiliate. EWF is a global nonprofit organization focused on accelerating blockchain technology across the energy sector. EWF is building the foundational blockchain technology — the digital DNA — on which the ecosystem can build, test, and run their applications.

With more than 50 Affiliates, including 12 of the world’s biggest energy companies — plus the expertise of Rocky Mountain Institute, Grid Singularity, and other strategic partners — EWF is the largest energy blockchain consortium and boasts unparalleled expertise. It’s an honour and privilege to be part of such a strong network as we look to collaboratively accelerate the transition to a decentralised, democratised, decarbonised, and resilient energy system.

It’s also a true validation of the hard work and achievements of the team here at Verv!

Having created a blockchain-based peer-to-peer renewable energy trading platform and partnered with Ocean Protocol to build a new data marketplace for energy, we are looking to create a full-scale network, enabled by our VLUX token, that improves access to affordable green energy and empowers the consumer to monetize their electrical data. Partnering with EWF is a reflection of our ongoing commitment to combine efforts with relevant parties and organisations to maximise the growth and scalability of the VLUX trading network and therefore the utility of our token so that we can bring this to fruition.

“What excites me about Verv is the combination of their skills, existing business model, and product,” explains Ewald Hesse, vice-president of Energy Web Foundation, co-founder and CEO of Grid Singularity, and advisor to the Verv team. “Their addition of crypto-economics promises a very interesting development.”

With scalability at the forefront of our minds, the collaboration also provides us — and the industry more broadly — with a common blockchain infrastructure. Having built an open-source, scalable blockchain platform, Energy Web is specifically designed for the energy sector’s regulatory, operational, and market needs. It serves as a foundational, shared digital infrastructure for the energy and blockchain community to build and run their solutions and is both Ethereum compliant and built for the grid’s transaction volume and speed, which will be key for us as we grow. With the ability to interface with EWF’s network, we are in a strong position as we look to grow and scale our VLUX network.

By collaborating with EWF and the other companies in the network, we are looking to accelerate growth of awareness and uptake of blockchain technology in the energy sector. EWF serves as a great place to bring together experts from across industries to “cross pollinate” ideas and knowledge, and educate industry leaders about why this disruptive technology is important, what they can do about it and how it can be implemented in order to revolutionise the energy sector as it stands.

It is also particularly beneficial for Verv to expand its already considerable network and forge ties with industry and academic experts. Providing compatibility with other networks and pieces of grid infrastructure is seen as a crucial part of scaling the Verv trading platform to global size.

Alongside attending EWF events, Verv is working closely with EWF on projects like the transactive energy working group.

Together, the Energy Web Foundation, Affiliates, and community are unleashing blockchain’s potential to accelerate the transition to a new energy landscape that is both smarter and more flexible and we are excited to be a part of it! Watch this space for future updates.

Peter Davies, CEO and Founder of Verv said, “We are thrilled to be affiliated with the Energy Web Foundation in a collaboration that further accelerates our mutual vision of creating a more robust and decentralised energy system. The network that we have entered into will help all parties by sharing expertise to ensure that the systems developed are accessible and scalable, and we look forward to helping to reshape the future of the energy industry.”