Energy consumption is increasing more than the planet can currently sustain. Until now there has been no incentive to save energy to address this problem. Energy companies are currently incentivized to sell more energy at the highest possible price with no real transparency.
This is where we come in. EnergiToken will disrupt the $2 trillion global electricity markets, which are closed and controlled by a handful of large players, by rewarding energy-saving behaviour via blockchain solution.
The platform will reward energy-efficient behavior by offering EnergiTokens (ETK) as incentives for a range of energy-efficient behaviours, such as taking low-carbon transport to buying energy-efficient appliances. ETK can then be re-used in the eco-system to help pay towards your electric bill, charge your electric vehicle or convert to fiat.
The project’s focus is to reduce global energy consumption by incentivising through the token model which will lead to:
1. A reduction in global energy consumption
2. A reduction in retail energy prices
3. The creation of an eco-system, including a transparent peer-to-peer platform to trade energy
The project’s team is building an energy eco-system, a new energy market using blockchain at its core. The platform will have two aspects:
- A peer-to-peer marketplace to buy and sell energy
- A reward platform
The peer-to-peer marketplace will connect generators and consumers on a common platform, bringing transparency to a notoriously opaque market. Members will be able to benefit from this by connecting directly with each other, without an energy company/broker in between. The platform will ensure prices are always truly market-reflective, as opposed to being kept artificially high by the current monopolies we see all over the world.
The advisors of the project include:
- Keith Teare, Co-founder of TechCrunch
- Lord Redesdale, an Energy Spokesman in the House of Lords
- Eddy Travia, CEO of Coinsilium
- Moe Levin, CEO of Keynote
The team have a proven track record. EnergiMine company has $150 million worth of energy under management.