Innovation in Energy: RED Smart Meters Go Live
RED Smart Meters Go Live
A Crucial Step Towards p2p Energy Trading
On the 11th of December, 2018, top Romanian energy supplier Restart Energy installed its first Restart Energy Democracy (RED) Meter on the premises of one of its largest customers, Cottontex, and started collecting electricity data on the blockchain in preparation for its landmark RED Platform energy marketplace.
Restart Energy has been developing innovative solutions in the industry for years now, being one of the first independent energy supply companies in Europe to accept Bitcoin as a means of payment in 2017, and is now on the final leg of its journey to become the leading peer-to-peer renewable energy marketplace - the Restart Energy Democracy Platform (RED-P) - that aims to revolutionize the way people acquire electricity, by using cutting-edge technologies such as blockchain to fuel a peer to peer energy trading revolution that does away with middlemen and red tape, leading to cheaper energy for all.
On this journey, RED has just completed one of the crucial steps necessary to reach its destination - the installation of its first RED Smart Meter that will monitor and gather valuable electricity data on behalf of its client CottonTex (one of the largest sportswear manufacturers in the EU) and write it on the blockchain for the purposes of the upcoming RED Platform, as well as allow CottonTex to monitor its own energy usage. Once distributed on a large scale, the RED Smart Meters will be able to do much more than monitor energy data, as long-term collection offers energy suppliers the opportunity to increase energy efficiency within a region by better predicting supply and demand, thus reducing their reliance on expensive spot market electricity.
The information collected from the first RED Smart Meters installed this week will also provide the first crucial real-world energy data samples for the developers of the RED Platform to work with, allowing for further calibration and testing of its various systems in preparation for the launch of the platform.
The underlying technology that will make the RED Platform a reality is that of the wider SWAZM blockchain - a toolset to change the world with through the power of distributed technologies and the immutable ledger. A turnkey solution for distributing applications, SWAZM aims to become a ‘new internet’ to power the decentralization wave.
Going forward, Restart Energy intends to distribute its Smart Meter technology to a broad spectrum of onboarded energy producers, business, and household consumers within Romania and not too far into the future, worldwide; enabling the data collected to benefit not only the individual business partners and customers that adopt this new technology, but also the overall energy grid itself, helping to provide a more robust framework that the RED Platform can further expand upon once it goes live in the near future.
About Restart Energy
Restart Energy offers access to the Restart Energy Democracy (RED) Platform - a blockchain-based platform capable of peer-2-peer decentralized energy transfers at a global level. The company’s goal is to expand into over 35 fully decentralized energy markets and become the leader in global energy roaming. For more information, visit the website https://restartenergy.io/, blog: https://blog.restartenergy.io/ and Telegram channel: https://t.me/RestartEnergy.
The SWAZM software introduces a new blockchain architecture designed to enable horizontal scaling of decentralized applications through the creation of a new blockchain, with a reliable transfer network, storage capabilities, and compute containers. The software provides certificate authorities, authentication, storage, and the scheduling of applications across many CPU cores or clusters. The resulting technology is a blockchain architecture that may ultimately scale to millions of applications, will be enabled to write any kind of technology, and allows for quick & easy deployment and maintenance of decentralized applications. For more information, please visit the website: https://swazm.com/#.
For the original news story, please visit https://www.prdistribution.com/news/innovation-in-energy-red-smart-meters-go-live/3903455.