World : Greeneum launches the world’s first blockchain-powered energy & data trading marketplace platform

Thomas Edison once said, “I would put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that.” His quote is still very true today. Our appetite for energy continues and there is no sign of stopping. Energy production is the number one cause of climate change, yet over a quarter of the world’s population lives without access to electricity.

Energy demand is rapidly growing worldwide in reaction to population, transportation, and economic production changes. This demand surge creates increasing pollution levels of carbon dioxide (CO2) in the atmosphere and threatens our entire eco-systemic. According to The World Bank, air pollution cost global economy trillions of dollars annually. Air pollution costs the global economy more than $5 trillion annually in welfare costs, with the most devastating damage occurring in the developing world, according to a new World Bank report.

There are many solutions proposed in response to targeting the pollution challenge. These solutions attempt to prevent, mitigate, and adapt to the climate change effects, but we still have a long way to go and we still to make a tremendous amount of progress to address the air pollution problem. The energy sector is responsible for a majority of the CO2 emissions worldwide.

One new startup is doing its part to reduce emissions, air pollution, and mitigate effects of climate change using blockchain technology. The startup is called Greeneum. The startup aims to address the problem using smart microgrids in emerging countries.  Currently, the clean energy market lacks a peer-to-peer method for individuals to incentivize green energy production and consumption in their communities. Few tools exist for peer-to-peer energy trading in small decentralized applications. Data on energy production and use is highly useful in planning, implementing AI and creating a more efficient energy grid. However, it is currently fragmented among centralized players in the market.

With Greeneum, stakeholders can reliably produce, trade and consume clean energy on a world-wide scale. Greeneum supports eco-conscious living and business — the greener you go, the greener the reward. Greeneum is more than a open market that unites the brilliant with the ambitious. With successful pilot programs already in place internationally, we’re only missing one critical element — you. Let’s get started. Greeneum is a global, decentralized network that aims to encourage the production, distribution and consumption of clean and sustainable energy. By using advanced technologies including blockchain, smart contracts and artificial intelligence, Greeneum is enabling the next generation of trust, transparency, security, actionable insights and forecasts for the global energy market.

 

Source : https://techstartups.com/2018/04/24/greeneum-launches-worlds-first-blockchain-powered-energy-data-trading-marketplace-platform/

Smart Grid Bulletin August 2018


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