SWAZM has Joined Hands With Restart Energy to Create the World's First Decentralized Peer-to-peer Energy Marketplace - the RED Platform
LONDON, July 23, 2019 /PRNewswire/ -- SWAZM has partnered with Restart Energy to create the RED Platform - a peer-to-peer system which utilizes cutting-edge blockchain and IoT technology in order to empower consumers to acquire and trade renewable energy cheaper, directly from producers.
Restart Energy is moving towards democratising the global energy market with the RED Platform. RED will enable consumers to become prosumers powered by solar energy, both increasing energy independence and helping decrease their carbon footprint.
The RED Platform is an energy trading application that will be able to scale to a worldwide user base of millions, simultaneously, in a fully-transparent and efficient manner, while offering unparalleled speed and network security.
"By using our technology, RED has decentralized the data layer of energy transactions, deploying the KWT on SWAZM. By using SWAZM's unparalleled scalability, RED is deploying a network of IoT devices communicating live with our blockchain, sending real-time energy data from and to the users," explained Vali Malinoiu, SWAZM's CEO.
Due to market regulation, competition in the energy sector has proved to be challenging. Monopolies make it difficult to compete in terms of costs and investments. RED aims to overcome all of these bottlenecks. The RED Platform has both agility and cost-efficiency, and can measure-up more established players of worldwide markets.
The use of blockchain technology in the energy sector is shaping up trends in trading and consumption. It is able to do this by disrupting the industry and providing access to cheaper renewable energy sources, via the peer-to-peer business model.
The highest advantages are reduced costs, by replacing monopolies by peer-to-peer energy exchange, and a more sustainable energy consumption model than the established fossil fuel one, by making use of any residual source.
SWAZM provides the fastest blockchain infrastructure, with 200,000 Tx/Sec, which allows up to 60 million energy meters to be read every 5 minutes on the blockchain. This capability is set to bring more transparency to the energy industry and help support the increase of renewable energy production, thus reducing CO2 emissions.
Restart Energy is the first energy supplier in Europe to accept Bitcoin. Restart Energy has created a system able to decentralize energy consumption and production, efficientize costs and provide a more sustainable energy expenditure, by making use of residual sources and encouraging users to choose renewable energy sources.