ENERGY WEB CHAIN
Introducing
Energy Web is a global non-profit on a mission to accelerate the energy transition by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources. Energy Web started in 2017 as a joint initiative between RMI, a global non-profit with decades of experience identifying pathways to profitably decarbonize the energy sector, and Grid Singularity, a noted blockchain developer who saw the technology’s promise in the energy sector, along with a cohort of 10 founding energy companies. Since its founding in 2017, it has worked with the community to identify, test and validate specific business processes where Web3 technologies deliver significant and tangible benefits.
Although business models supporting clean and distributed energy have long been clear, they aren’t scaling quickly enough to achieve global decarbonization targets. One key barrer is a lack of cohesion when it comes to digital technology. In all energy systems, today’s digital landscape is highly fragmented and inefficient, reyling on complicated integrations between competing platforms and protocols throughout supply chains. This approach won’t work in an environment with evolving objectives, a growing number of stakeholders, and an increasingly diverse resource mix. To make the global energy transition successful, the energy sector needs digital technology that enables a fundamentally different way of working; namely, radically reducing the cost and complexity of coordinating a multiplicity of companies with different roles, objectives, and IT systems. The ENERGY WEB was created to solve just these problems.
Industry Issues
1.Electricity Market
With each passing day electricity markets must cope with more technologies, more resources in more locations, more participants, more business models, more tariffs, and more regulatory and operational demands in the face of climate change and evolving customer preferences. Managing this complexity requires better ways to share information and coordinate actions among diverse stakeholders within any given market.
It aims to harmonize data and workflows affecting multiple organizations in transmission and distribution systems in electricity markets.
2.Clean Energy Supply Chains & Carbon
Clean energy and carbon markets have transparency problems. Transparency is the key to unlocking latent demand for clean energy and low carbon solutions. The technology exists to profitably decarbonize nearly every part of the economy, from electricity, to fuels, to commodities like steel, and even cryptocurrencies. Accounting systems across industries and supply chains are fragmented, and verification processes are opaque. Because buyers and producers alike lack the tools to provide granular tracking and auditing, these solutions have yet to reach their full potential.
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Energy Web’s focus in clean energy markets is to enable all stakeholders to independently verify detailed data throughout their supply chain lifecycle.
Solutions
1.Green Proofs
Green Proofs helps organizations back up their public decarbonization pledges and grow markets for clean commodities with granular, verifiable data. EW Green Proofs is a customizable solution for registering and tracking low-carbon products and their attributes throughout complex supply chains. In contrast to other blockchain-based tracking solutions which simply translate certificates from existing registries into tokens, Green Proofs enables users to independently verify the attributes and qualifications of producers, as well as the veracity of the data and business logic that governs each step within the certificate lifecycle.
2.Asset Management
EW Asset Management helps enterprises strengthen security and improve visibility for distributed resources in complex operating environments. EW Asset Management is a customizable solution that packages self-sovereign identity and access management tools in an enterprise-friendly way, giving companies the ability to administer all types of resources in environments with dynamic network perimeters. With advanced features for defining roles, issuing and managing credentials, and tracking events EW Asset Management enables role-based access control and identity management for human users as well as software and hardware systems.
3.Data Exchange
EW Data Exchange helps electricity market participants share information and coordinate operations to maximize the value of clean and distributed energy resources. As grids become more diverse and dynamic, maintaining point-to-point integrations between dozens, hundreds, or even thousands of participants is not only costly, but potentially risky. Scaling existing systems to interface with an ever increasing array of stakeholders — from assets to aggregators, and regulators to retailers — is simply not viable.
Introducing EW Data Exchange, a solution that dramatically streamlines communications and data processing between organizations without a central broker. Any protocol, any use case, all with a single integration.
Energy Web Token
The official cryptocurrency of the $Ewc Energy Web Chain. Energy Web Token (EWT) is the operational token behind the Energy Web Chain, a bclockchain-based virtual machine designed to support and further application development for the energy sector.
When creating the Energy Web Chain, founders RMI and GSy were looking to launch a versatile blockchain solution for a wide range of applications in the energy sector. One of the main selling points of EWT is that it offers enterprises the opportunity to create completely customized decentralized apps. While blockchains like Ethereum also provide this diversity, Energy Web Chain was purposefully designed for the energy sector.
Considering the fact that the Energy Web Chain is created with enterprise use in mind, it supports state-of-the-art scalability and data privacy. The foundation also recently released a stacked tech solution called Energy Web Decentralized Operating System (EW-DOS). It allows users to control and manage their electrical systems online.
Check the links below to learn more about Energy Web Chain:
official site- https://www.energyweb.org/
telegram- https://t.me/energyweb
#Energy Web #EWT #Decarbonization
