GREENEUM: Blockchain for green energy

resus.nguyen (39)in #crypto • 3 years ago

Many people in the word consume energy, but few produce their own. The current system of energy distribution does not encourage small-time producers, like homeowners who install solar panels. Instead larger companies profit almost exclusively. Costly in-person auditors assess renewable-energy producers to certify them as green, after which producers can sell Renewable Energy Certificates (RECs) as green energy. Upon certification there is no guarantee in return on REC sales due to fluctuating non-market controls, such as legislation changes, that are outside of the producer’s control.

Large-scale green energy producers can also benefit from deals under Power Purchase Agreements in which they commit to produce a certain amount of renewable-energy at a set cost over a time-scale of around 20 years – securing financial stability and overcoming this uncertainty. Smaller generators simply cannot compete. Without incentive, why would people elect to change from their energy-inefficient consumer ways to become green energy producers or users anyways?

Who Are Greeneum?

Starting with who are they? The network emphasizes its target to create something good in the future. It is especially devoted to the project to create sustainable technologies and clean energy. The idea of building such innovation is always in people's minds, yet it is hard to realize due to big budgeting.

In this case, the company uses customized machine learning and blockchain to take care of the investment. This idea is not new anymore. There are tons of similar projects that propose the same idea. However, Greeneum underlines the connected digital assets to create profitable green projects. It also promises optimal power yields that come with certified green energy.

What Kind Of Blockchain Project Is Greeneum?

It is safe to say that the project used a decentralized platform that comprises many energy market stakeholders. The idea is pretty much gathering a bigger fund for creating potential green energy sources while providing an incentive for everyone inside the ecosystem. The focused target for the project will be the energy trading platform using cutting-edge disruptive technology.
All the transactions for the energy market will be done in the Greeneum network (blockchain system) that provides transparent and more beneficial access. With the use of blockchain, you can say that Greeneum will use the native token called Green. Users, consumers, private, public, producers, or anyone inside the network will use it for every trade possible.

The interesting thing about this project is how Greeneum creates a better energy solution for current global issues. A problem such as the need for green energy comes with the potential of building a green power plant. Later on, the usage of its energy and its transaction will use GREEN tokens. Thus, the rising value can be one of the benefits for investors or stakeholders.

ABOUT THE GREENEUM ECOSYSTEM

This platform consists of different elements which makes up the GREEN network. This platform controls and record all meta-data in the blockchain network, makes use of the advance AI technology to gain insight and predict accurately. This platform is designed to issue out GREENEUM certificate to all the producers of green energy after providing values in the ecosystem, they are given carbon credits on the network. The green certificate given can be likened to carbon credits, the certificate however is impoy in the green marketplace and can be sold in the marketplace or use to make some other processing in the market. This platform can have the green certificate used as a form of incentives for producers in the system, they are granted and fulfilling their responsibilities in the system. This certificate as a tool also helps in validations and is also termed the GREENEUM carbon credits which producers find useful for knowing the amount of energy produced in the system per any given time. Selling the GREENEUM carbon credits is very important and can be exchanged for GREEN tokens or other cryptocurrencies in the digital world. So it can be seen as a form of money which all users of this platform need to acquire for smooth ride in this ecosystem.

FEATURES OF GREENEUM

This platform has its bounty which involves all participants in the network. This bounty will make any member capable of getting rewards as they keep sending their valid data to the network. This is just one of the many ways to get rewards in this platform.

Data sharing is aided by the GREENEUM certificate, a perfect form of internal token system which is specially designed for the green energy. This will help tokenize all the transactions and it represents the amount of energy produced whether used or not in the system. The way the GREENEUM certificate is designed shows that it give a representation of the energy system and the state they are in.

Greeneum Roadmap

Those are some questions and answers that show how potential this project will be. As one of the long-term projects, many people might have to think twice about investment. However, the premise is pretty clear and also well thought. The idea of using the decentralized SaaS for the project also makes sense. Joining the move might come in better income as the project gets real.