We currently use AI and blockchain technologies in the energy sector to reduce cost and consumption of electricity in global markets. We currently manage over $140million of energy and cover over 1,100 sites across Europe and are continuing our growth. Our overall model will lead to:
1. A reduction in global energy consumption
2. A reduction in retail energy prices
3. The creation of an eco-system, including a transparent peer-to-peer platform to trade energy
Energi Token (ETK) is the next step in our revolution of the energy sector. Traditional incentives to reduce consumption previously have not worked, and we feel that the reason for this is that consumers need to see the monetary value of their change in behaviour before they are likely to act upon this. Our token will offer incentives for a range of energy-efficient behaviour such as taking low-carbon transport and buying energy-efficient appliances. ETK can then be re-used in our eco-system to trade energy or charge your EV.
ETK is designed as a reward mechanism to encourage energy efficient behaviour from consumers and there are various ways in which these can be obtained through different methods which we have outlined below.
The tokens will be based on the Ethereum ERC-20 standard and can be bought via coin exchanges for several purposes such as individual/company incentive schemes. For example, a company can buy x tokens from the exchange and distribute them amongst its employees for showing energy efficient behaviour that saved the company y amount on their energy bill.
Tokens can also be earned by individuals by implementing energy saving behaviour such as commuting via public transport, buying an electric vehicle or consuming less energy at home.
If an individual was to commute via public transport they would receive an amount of ETK for using a more energy efficient method of transport. If they purchase an electric car then the car manufacturer or the local authority would reward them with ETK for purchasing an energy efficient vehicle. If they consume less energy at home through behavioural change or more efficient appliances, they would be given ETK for showing energy efficient behaviour.
Ultimately the mechanism is designed to encourage energy efficient behaviour and as a by-product, the consumer will become more proficient in the energy industry, leading to more informed decisions being made. The tokens will have a market value and can therefore be exchanged for flat currency, or the consumer can choose to save the tokens and use them to pay for future energy bills and electric vehicle charging.
Energi Token has so far gone on to win at the ICOSummit Zurich and come in at 4th place at the d10e Conference on Kiev. We also have Lords Revesdale from the House of Lords on board (CEO of The Energy Managers Association) and are in talks with some of the biggest energy suppliers in the world alongside a major European city.
Please contact us for more information:
www.energimine.comSounds interesting, I'll keep an eye out for that one
Have you read
Energi’s short white paper? They cite the main problem is:
“A small number of large energy companies supply millions of customers who are price takers.”
Therefore, the solution is to create more energy suppliers, especially nuclear power plants, which is the cheapest source of electricity. But Energi does not propose to create another supplier. They propose to enable consumers to sell their self-generated electricity directly to other consumers.
This is a TINY market. To do this, consumers need to have BOTH solar panels and batteries. Though solar panels are growing, it is still a tiny percent of the market and solar generated electricity is still much more expensive than nuclear generated.
Consumers with solar panels do not have that much surplus electricity to sell anyways. They use most of what they generate. There is strong evidence of this. Tesla and Enphase hyped up their batteries for solar panel owners to store their surplus electricity. (Batteries are needed in order to sell your extra electricity.) These batteries are NOT selling. Enphase spent over $100 million to develop their battery and partly because of the lack of battery sales, their stock has plummeted approximately 85%. Do your own research.
Energi shows a diagram of Current System where consumers sell their surplus electricity to the Supplier and the Supplier sells it to other consumers. Then Energi shows a diagram of their solution, where consumers sell electricity directly to each other, to bypass the Supplier (middleman). How will consumers be able to do this? Will consumers hook up wires from their houses to the other houses that want to buy from them? No consumer is going to do this.
Even if a few deranged consumers spend the thousands of dollars to do this, why do they need a new token? Why can't they use BTC, ETH, NEM, PIVX, DASH, etc.?
Then Energi tries to mislead you by telling you that
“Total global electricity consumption was 21,190 TWh (Terawatt hours) in 2016…Power traded globally is a market worth around $2 trillion per annum”.
But this is mostly nuclear and coal generated electricity and has nothing to do with consumers selling their solar, self-generated electricity.
Solar generated electricity is still more expensive than from the utility companies. The main reason people put up solar panels is because of government subsidies. If debt-ridden governments stop subsidizing, solar industry will crash. Think of Solyndra, which drained $535 million from taxpayers and still went bankrupt.
Energi cites this problem as well:
Lack of incentives to use less energy
Energy companies make money from selling more energy, so consumers are not incentivised to change behaviour.
This is so ridiculous, it’s essentially a lie. EVERY company in the world makes more money from selling more. This does not mean that consumers are not incentivised to change behavior.
Energi cites this problem as well:
Lack of competition
Barriers to entry are high, with complexity of regulation and costs of entry being the two main reasons for the monopolies operating in all major power markets globally.
That’s because it costs $9 billion to build another nuclear power plant. How will Energi lower this barrier? By creating a token? You’re a sucker if you believe this.
Energi’s team is in the UK. Does that make them experts on how the energy trading business works in the other 100 countries? To try to replace the existing businesses in all these countries will take hundreds of millions or billions of dollars and decades.
Spend 5 minutes to do some research and you'll find serious problems with most ICOs. Most of these white papers are so empty that it takes less time to read them than business plans.
very good analysis. spot on.
