What is Restart Energy? Blockchain Technology Based Energy Trading Platform
The large number of intermediaries present in the traditional energy distribution model charges a great chunk over the cost of goods sold. It approximately comes to about 50% of retail electricity cost which is utilised for paying the electrical energy bill in itself. The remaining half remains tied up in marketing, administrative burden and risk management associated with mitigation of bad debts. When the energy produced by a prosumer (consumer + producer) through solar is more than his requirement, he/she can sell some to the grid at a meagre price. Since incentives are not given to legacy energy providers in exchange of such services as their revenue and supply from the consumers might get reduced.
With the energy consumption said to double within 2030, an excessive demand is being felt for distributed energy development models which can establish direct connectivity between producers and users. Distributed energy models allows consumers to access cheaper energy sources while tagging along greater ROI for producers.
Restart Energy(MWAT) stands out as the most potent solution in this new ecosystem which exists inside the current legislation for providing participation incentives to producers, consumers, local micro entrepreneurs and other private suppliers. Restart Energy, the Romanian gas and electricity supply company having a customer base exceeding 30000 users has already been accredited as a source of 100% renewable energy. It has secured the position of the fastest growing energy supplier in EU coupled with innovative business practices like franchise based model. Blockchain technology holds the potential of completely disrupting the existing energy markets.
According to the company:-
“Restart Energy is building a global energy supply platform using blockchain protocol to democratize a sector burdened by bureaucracy and transaction costs, freeing up capital, saving consumers money, helping local small producers earn more and allowing real peer to peer direct energy trading using existing infrastructure.”
Restart Energy Advisors
Additional Restart Energy Links Resources
Renewable energy projects worth 500 Megawatt (MW) has been developed by Restart Energy through its ICO for tokenizing the usage of energy on its blockchain. Fantastic partners and an enormous customer base in EU will surely lead MWAT much above its ICO price in days to come.
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Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.