Zug, Switzerland — 3 November 2020 — Today Energy Web (EW) announced that it has joined the InterWork Alliance (IWA), a platform-neutral, nonprofit organization dedicated to creating the standards frameworks needed to increase innovation across token-enabled ecosystems. Energy Web will also join IWA’s Sustainability Business Working Group, an issue-aligned working group focused on carbon emissions and related themes.
As a member of the IWA, EW will collaborate with the organization’s global member base to set the standards for building distributed applications, including appropriate frameworks for tokenizing items of value, writing contracts over those tokens, and privacy-preserving analytics of multi-party data. EW’s Energy Web Decentralized Operating System (EW-DOS) is anchored by the Energy Web Chain, which includes a native utility token, the Energy Web Token (EWT). In addition, many of its software development toolkits, such as EW Origin for renewable energy markets, apply a multi-token approach for handling the fungible and non-fungible aspects of digitalized assets such as energy attribute certificates (EACs) that serve as the verified ‘proof of purchase’ for renewable energy.
“The energy sector is not an island. Though the Energy Web is rooted in the world’s electricity grids, we naturally interface with many adjacent sectors, such as telecom for a fast-growing fleet of IoT-connected distributed energy resources and finance for settlement of grid services,” explained Jesse Morris, CCO of Energy Web. “Membership in the InterWork Alliance is a great way for us to interface with like-minded organizations in a variety of sectors, to ensure that we’re all building solutions that can ultimately work together as part of a bigger whole.”
IWA frameworks will enable businesses to create standardized token definitions and contracts in non-technical, business terms, and then turn them over to developers for coding on any platform of choice. The Alliance’s focus areas include:
- The Token Taxonomy Framework: provides a common language and toolset that enables multiple parties to agree on the definition of a token and how its value can be exchanged or used
- The InterWork Framework: allows businesses to compose multi-party contracts from clauses that directly correlate to the token standards, enabling communication protocols to be defined and connected to framework components regardless of the eventual technology deployment
- The Analytics Framework: enables organizations to derive additional business value from a privacy-preserving analysis of multi-party contracts, and shared data schema for value-add AI services and market-driven data reporting
About the InterWork Alliance
The InterWork Alliance (IWA) is a non-profit, member-led organization creating platform-neutral specifications and trusted certification to define how digital token business processes can interwork regardless of location or market segment. By focusing on real-world projects, market requirements, and performance metrics, the IWA will define tokenization and interworking standards to drive business-level interoperability, multi-party interchange, and trust across applications and networks. Our global membership includes leaders, adopters, innovators, developers, and businesses representing the best practices for every use case the token-powered ecosystem has to offer.
For more, please visit https://interwork.org/.
About Energy Web
Energy Web is a global, member-driven nonprofit accelerating a low-carbon, customer-centric electricity system by unleashing the potential of blockchain and decentralized technologies. EW focuses on our open-source, decentralized, digital technology stack — the Energy Web Decentralized Operating System (EW-DOS) — to enable any device, owned by any customer, to participate in any energy market.
EW launched the Energy Web Chain, the world’s first enterprise-grade, public blockchain tailored to the energy sector and the anchor of the broader EW-DOS technology stack. As the industry’s leading energy blockchain partner and most-respected voice of authority on energy blockchain, EW has also fostered the world’s largest energy blockchain ecosystem, comprising utilities, grid operators, renewable energy developers, corporate energy buyers, IoT / telecom leaders, and others. More than 30 of those companies host validator nodes for the EW Chain.
For more, please visit https://energyweb.org.
Peter Bronski, Energy Web
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