Restart Energy is the fastest growing energy and gas supply provider in Romania and the first to expand it across the European Union. With its increasing annual turnover every year and supported by multinational energy and gas companies, it has become the first company to launch the decentralized blockchain platform for the payment of the energy invoices through bitcoins.
With a finite energy resource, many countries are trying to reform the energy market by deregulating and allowing the private companies to operate in the power retail sector.
Restart Energy Democracy Platform (RED-P) is a decentralized energy supply platform which includes consumers ranging from Solar, Hydro stations. Consumers will be awarded with green certificates for implementing the Renewable energy for the power supply.
MWAT tokens
RED Megawatt tokens are the first tokens backed by the real energy. Every MWAT token has the storage capacity of 1 MWh. It starts initially by 0.11 KWh per token. As the demand for energy increases, the value of the token increases. The tokens will become like energy storing batteries and the energy will be provided by the renewable energy producers and suppliers.
Restart Energy is also developing franchises in EU industry that allows anyone to have its own power retail business and earn revenues. RED-Franchise (RED-F) is exclusive for MWAT token holders. With its decentralized technology, it enables the token holders to run their own energy business. The token holder can either become the owner of the new franchise or be a broker for an existing franchise.
Deregulated Energy market
The conventional energy market is a centralized monopoly whereas the deregulated market tags the prices based on the demand and supply. The deregulated market retailers can buy the electricity at wholesale prices and sell them directly to the end customers. The electricity is charged considering the generation, transmission and the distribution to the end customers. The retailer costs including the marketing, administration and managing the electricity supply add upto a significant amount. By deregulating the energy market, the end customers can save on the retailer costs.
Around 38% of the generated electricity are lost during the transmission process. By enabling the consumers to become the electricity producers with Photo Voltaic process, the retailer cost is saved and can significantly minimize the distribution loss.
Role of Cryptocurrencies in Energy market
With cryptocurrencies, the consumers can make their payment through the token based assets and can track their assets in real time by Ethereum smart contracts. The blockchain technology has significantly reduced the regulatory costs and gives the power to the customers to make their own choice.
The services are accessible in the web servers and mobile applications. The energy meters are becoming wireless and the readings are available in the web servers directly. The switching of energy supply (Solar or Wind) can be done through online. The consumers can make the transactions through the crypto tokens.
The main features of RED-P is that it will provide virtual balancing among the energy producers, suppliers and consumers. If the consumer is directly getting the energy supply from the producer then the monthly supply invoice will not appear in the invoice and gets balanced.
Roadmap
Restart Energy will be expanding its franchises throughout Europe and Asia in the coming years and the Restart mobile app will be launched along with Wi-Fi energy meters to track the energy usage and record in the Servers.
For more Detalis
Website: https://restartenergy.io/
Whitepaper: https://restartenergy.io/Restart_Energy_Whitepaper.pdf
Join Telegram: https://t.me/restartenergy
ANN Thread: https://bitcointalk.org/index.php?topic=2572702.0
By : karanj
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