INTELLIGENT BRANDS // Green Technology
New blockchain renewable energy
pilot to power 500,000 homes
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wytch, a blockchain-based clean
energy incentive, and the Germany-
based Energy2market GmbH (e2m),
a leader in aggregated energy trading
throughout Europe, have announced a pilot
programme which includes roughly 3.5Gw
of solar, wind, hydro and biogas energy
capacity in Germany and is enough to power
over 500,000 homes. As part of the large-
scale pilot, Swytch is testing its first versions
of the data flow, blockchain, dashboard,
estimators, token allocation models and
other key parts of the platform.
Swytch is a blockchain-based platform
that tracks and verifies the impact of
sustainability efforts and actions on the
worldwide level of C0 2 emissions.
Swytch leverages smart meter and
blockchain technology to reward the
companies and people who reduce carbon
emissions the most. At the core of the
Swytch solution is an open-source ‘Oracle’
that uses artificial intelligence and machine
learning to determine how much carbon
is being displaced and therefore how
many Swytch tokens to award. As a result,
producers of renewable energy create
Swytch tokens by generating solar, wind
and other forms of renewable energy.
e2m perceives Swytch’s approach to
tokenised incentives in the energy market as
particularly attractive to the larger energy
producers and traders it serves.
option is needed. Additionally, some
countries, like Germany, will begin phasing
out their incentive programmes in the next
few years. We need to prepare for the future
and identify new subsidy instruments and
trading mechanisms.”
This partnership will allow e2m to gain
insight into alternatives to existing incentive
programmes and leverage blockchain, which
has security and immutability, making it
an ideal technology to help reshape an
industry that relies on timely and accurate
data. Additionally, e2m believes that
Swytch, as a global incentive programme
and data source, has the ability to empower
governments, cities, corporations and
individuals to take a more active role in
accelerating the adoption of renewable
supply and sustainability programmes.
A partnership with Swytch will create a
competitive advantage as buyers and sellers
of energy gain access to higher quality
data in addition to an incentive that will be
effective across geographic barriers.
“Just as blockchain is applicable to supply
chain management and verification of
physical assets, it is also beneficial for
recording and tracking environmental
attributions,” said Evan Caron, Co-founder
and Managing Director of Swytch. “When
compared to existing programmes, this will
drastically reduce fraud and administrative
costs as well as 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.” n
“We firmly believe that blockchain
technology can be used to unlock long-term
value for Europe’s renewable energy assets,”
said Andreas Keil, CEO of Energy2market.
“Today, renewable energy represents 32%
of the total energy market in Germany, but
we have a goal of reaching 70% by 2050.
Government-based incentive programmes
can only do so much and a more dynamic
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