Incentivizing Consumers to Build a Better Climate — The Green Token Mechanics
Energy Consumption Patterns and Society
The first energy consumer was the one that discovered fire. From preparing food to heating the caves in which they lived, humans tamed energy sources in order to move forward. The “red flower” that the jungle feared, was a turning point in the evolution of technology, following human’s needs for daily life, transforming culture and changing diet and group behavior.
So revered was its power and important its function that early communities had designated members to take care of the flames, making sure it always kept burning, allowing their group to thrive and ultimately survive. Energy consumption began as a vital element, shared among peers. Things began to change with the development of society into what we know today.
One of the initial methods of fueling society was hydropower. It had been used as a renewable energy source for irrigation and operating production means like sawmills, textile mills, and other mechanical devices. The evolution of energy consumption came with the discovery of electric power. Fire is a chemical reaction. Electricity is the result of charged particles in motion.
The advancements of technology made its creation possible. Fire was the “initial spark” that moved technology up to that point, advancing human capabilities so that they could reach the Industrial Revolution. Humans began to rely more and more on burning fossil fuels to create electricity.
Incentivizing Green Energy Consumption & Building a Better Climate
Our current world is powered-up by fossil fuel energy, and with the increasing power demand coming up in the next decades, a solution needs to be put in place, making way for equal and sustainable energy consumption. At a global level, there is an ever-increasing trend that accentuates the need for renewable sources, as both individuals and large companies understand the danger of running out of raw material to fuel the evolving digital society.
Worldwide, there is an increasing trend regarding renewable energy sources, and an increasing number of tech start-ups are taking up the challenge of coming up with the best solution on the market in order to achieve such a trailblazing goal in the energy industry. In order to achieve such big goals, any high-achieving start-up in this sector needs a healthy dose of capital infusion. Important players in the business area, as well as world leaders, have decided to invest their time and money aiming to encourage these evolving market structures in the energy sector.
Elon Musk is one of the top players in this yet new venture, through his company, SolarCity, aiming to bring solar panel roofs into mainstream consumption, providing access to private energy sources and to the technology able to transform all of us into prosumers.
The highest advantages that derive from all these innovations are reduced user costs, replacing monopolies by peer-to-peer energy exchange, and last but not least, achieving a more sustainable energy consumption model than the established fossil fuel one, by making use of any residual source, thus appealing to the ever-increasing supply needs, meant to power our digital society.
Environment-minded business people like Richard Branson (CEO of the Virgin Group), Jeff Bezos (CEO of Amazon.com), and Michael Bloomberg (CEO Bloomberg LP) among others, get together to form a coalition meant to sustain green energy production and consumption via important investments, putting their minds and resources together in order to build a more sustainable future for us all.
Breakthrough Energy was created by Bill Gates (founder of Microsoft) with the aim of funding large infrastructure projects that advance and reward the mass-adoption of renewable and more eco-friendly power sources that will improve both costs and usability for consumers and the way they live their lives.
The Cost and Waste of Traditional Energy Suppliers
Nowadays, energy needs and consumption put regular consumers into several difficult situations. Centralized production influences the value invoices have. Due to tax regulations and other fixed costs involved in consumption prices go up, generating increased spend for individuals. No matter how much energy is consumed, these costs cannot be eliminated, for they are the ones that make the system work. Consumers end up paying more than they utilize, and so an increased need to equally distribute these expenses appears.
In order for regular individuals to either consume or produce green energy, they need to have access to these types of resources. They need to be connected to be able to develop a network of renewable energy users. There is a need for creating a marketplace that sustains these types of transactions and socio-economical changes. As we mentioned before, people used the energy of fire in order to fuel their common goal of growing a community and survive daily. As a group. Decentralized energy platforms can make the difference between sustainability and waste.
The RED Platform, it’s Green Token and Cost Efficiency
The main obstacles to entering the household and renewable energy markets include the build of a capital-intensive infrastructure and automated processes necessary to handle large numbers of low volume consumption orders. As the current models do not ensure a direct connection between consumers and producers, and between producers themselves, the transition to using green energy sources is still one that moves very slow to be able to liaise all into a network.
As you all know, we partnered with SWAZM Blockchain and created the RED PLATFORM (RED-P), a peer-to-peer system, aiming to evolve consumers into prosumers, both consumers and possible producers of energy in tomorrow’s society. The platform is a blockchain-based decentralized energy platform, that functions as a peer-to-peer direct trading system between consumers and energy producers. It incentivizes consumers to use green energy by awarding them green certificates, which they can later transaction within the network.
Access to the platform is granted only to MWAT token holders: “The RED MegaWatt (MWAT) Tokens are ERC20 utility tokens that give access to the RED Platform Software and to the RED Franchise.”
The tokenized energy can then be used to operate transactions within the system, following the decentralized network pattern of the blockchain, where each member can both take and give value within the system. That’s how collaboration works. That’s how trust happens. And this is how we aim to incentivize the growth of green energy consumption.
“Restart Energy offers integrated energy, gas, and fuel packages to households, SMEs, and multinational companies helping them effortlessly achieve greater savings on all forms of energy consumed. It purchases renewable energy directly from solar, wind and hydro producers by providing them bankable energy and green certificates with offtake agreements. It enables its user to switch suppliers through its mobile app within 5 minutes. It focuses on eliminating bureaucracy in all activities of its value chain. Customers can opt for up to 100% renewable energy consumption. Restart Energy’s online portal and mobile app has helped users towards easier fuel management and savings with the highest level of transparency.”
Helping the Consumer Build a Better Climate Using Green Energy
With the development of a new standard of cryptographic green certificates using blockchain, our consumers will be rewarded for using more and more renewable energy. “The green certificates will store information about the source of energy, the producer, the consumer/user and the owner of the certificates.”
By owning these awards, people will be incentivized to use sustainable energy sources, increasing the demand, growing and transforming the market from a fossil-fueled, wasteful pattern, into a greener, cost-efficient and collaborative one. In the end, this entire transformation makes way for the evolution of society as a whole, energy once again being the engine that brings about better living conditions for all involved. The consumer of the future is connected.
Empowering the regular consumers and evolving them into what is known as prosumers is one of the trademarks of this paradigm shift in the way we look at energy consumption. The prosumer is both consuming and producing energy that they can later sell back into the network.
The highest advantages that derive from all these innovations are reduced user costs, replacing monopolies by peer-to-peer energy exchange, and last but not least, achieving a more sustainable energy consumption model than the established fossil fuel one, by making use of any residual source, thus appealing to the ever-increasing supply needs, meant to power our digital society
The consumer of the future is the prosumer. Keep reading our publication here on Medium, as we aim to unfold all the details about this emerging hybrid between consumer and producer.
About Restart Energy
Restart Energy Democracy (RED) is a blockchain-powered platform, backed by Restart Energy — a European energy provider with 20 million USD in revenues. The company was built with a vision to democratize the energy sector and quash the dominance of legacy monopolies in the energy world. The company’s credentials include a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month, and it’s impressive growth: 1700% from 2015 until today.
Restart Energy is developing the world’s first peer-to-peer, fully decentralized energy transfer platform allowing users to send and receive energy worldwide, based on its proprietary virtual balancing system, that uses A.I, Big Data, and IoT technologies. The RED ecosystem is comprised of the RED-Platform, RED-Franchise and RED-MWAT Tokens.