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.