Proving the Business Case for the Internet of Things

Greeneum creates blockchain secure energy platform

Steve Rogerson
May 1, 2018



Greeneum has created a blockchain-powered sustainable, scalable and secure energy and data trading platform, which the Israeli company believes is the first major step towards ending a global reliance on toxic and non-renewable energy sources including fossil fuels.
 
To protect contributors and bring greater transparency to these projects, the Greeneum platform is built on the ethereum blockchain. Agreements are held on this distributed ledger, which helps ensure that terms are secure and visible at all times.
 
The platform is claimed to be a first of its kind marketplace and energy production management system. It enables contributors from around the world to invest in green energy projects including solar, hydro and wind power, while creating production efficiencies during demand fluctuations. Pilot projects underway include a grid operator in Cyprus and a micro-grid in Israel; more are set to be announced throughout 2018.
 
"Greeneum's first in kind platform enables people and companies to make contributions to green energy products around the world," said Greeneum founder Assaf Ben-Or. "Our goal is to foster increased use of renewable energy sources and reduce the carbon emissions that are contributing to climate change."
 
The Green Token is central to the story, and contributors have been able to access it during a token pre-sale that started last month on Earth Day (April 22). Qualified individuals will be able to start contributing to a wide variety of projects later this year.
 
This approach to green energy production, distribution and consumption management is enabled through innovations including:

  • Crypto-based platform: Using an ERC-20 compliant token enables contributors to have one point of entry to contribute to projects around the world;
  • Smart contracts: Enable efficiencies by disintermediating the various brokers and middlemen currently involved in these investments, and remove trust as a factor between counterparties; and
  • Distributed energy resource management system: Through use of artificial intelligence and proprietary algorithms, Greeneum enables electricity producers to anticipate demand in advance and direct resources accordingly, enabling them to create reserves and reduce production costs.
"By enabling contributors to help fund these projects and track their contributions, Greeneum is bringing a level of transparency to these projects not previously seen," Ben-Or said. "And empowering utilities to better anticipate and manage costs, we are hopeful that these increased efficiencies will enable contributors to have an even greater impact on the projects they choose to participate in."
 
Greeneum was founded by a team of dedicated experts with experience across a wide variety of solar and renewable energy projects and start-ups including: Assaf Ben-Or, founder and CEO; Elya Katsir Dolev, co-founder and CTO; Rodrigo Rapoport, COO; and Guillermo Wajner, CMO.
 
Greeneum also has an advisory board and corporate partners including: IBM, D10e, Etherlabs Chain Dynamics, SolarChange and CoinAgenda.
 
Greeneum is a global, decentralised network that aims to encourage the production, distribution and consumption of clean and sustainable energy. By using technologies including blockchain, smart contracts and artificial intelligence, Greeneum wants to enable the next generation of trust, transparency, security, actionable insights and forecasts for the global energy market.