Energy Web TokenThis isn’t a short read so let me start with the tl;dr; there is an in-depth post after this partThere are so many shill posts on Reddit for when a $1bn company adopts a certain blockchain project or uses an ecosystem, well I’m bringing you 2000x that… and you’ve probably never even heard of it. The companies that form the EW ecosystem collectively turnover in excess of $2tn per year. The companies that host nodes on EW chain turnover approx. $650bn each year.The largest energy companies in the world have all got together and said “we need to build something to harness the power of DLT”, together with the Energy Web Foundation they made this happen.Simply put, the Energy Web Chain is a platform and ecosystem for the energy markets.FULLY approved by the SEC - hence no ICO or IEO - must comply with stringent energy providers and energy market regulations.Validators that invested and now host nodes for the chain include the largest energy companies in the world, including Shell, EDF, Engie, PTT, Total, TEPCO.Energy Web Validators expect to have a third of all Wind, Solar and biomass producing devices on-chain by 2030, over 250m assets (solar panels, wind generators etc.) in a sector that is predicted to be worth $13tn by 2050.There are over 100 companies currently developing and using the Energy Web Ecosystem - Total revenue of the largest 22 companies in the ecosystem = $1.5tn per year. Total is in excess of $2tn.The validators have established a goal for the amount of energy they want to SAVE in 10 years by using EW Chain - this equals more than the entire installed electricity generating capacity of the United States.I want to emphasize that these aren’t hype inducing promises or pie in the sky ambitions, the companies that want to achieve these things on chain are already the biggest in the world and already have a vested interest in the platform THEY BUILT.*The hype factor: *Less than 200 investor walletsUnofficial TG group was only founded a few days agoTHERE WAS NO ICO OR IEO, you’re not going to get Shell market dumping on you and this is why it was so under the radar.Companies totaling over $2tn in collective revenue are actively building the ecosystem and have skin in the game.If another project landed just one of these clients or had one of these companies building on their ecosystem they would be $100m market cap. With this in mind, Energy Web Token should be easily top 10 and in the billions of market cap.New exchanges - tier one, tier two and a DEX coming, with one coming within the next month. Should have no problem being listed on tier ones due to SEC tick of approval.You can fact check everything I say here - the project is open source.Right let’s get stuck into it…——————————————————————————————————————————————————————————————————————————————————————------------------------------What is the Energy Web Foundation?https://ift.tt/3didYHu, lets start with who actually orchestrated the creation of the EW Chain and Ecosystem, the Energy Web Foundation in partnership with the Rocky Mountain Institute.The Energy Web Foundation is a global not-for-profit organization that creates open sourced, decentralized software around their blockchain ecosystem, the Energy Web Chain.In just a couple of years, The Energy Web Foundation has managed to grow the largest energy blockchain ecosystem comprising utilities, grid operators, renewable energy developers, corporate energy buyers and others. More on this later.What is the Energy Web Chain?The Energy Web Chain is a public, enterprise-grade blockchain platform designed for the energy sector’s regulatory, operational and market needs.The energy market is extremely regulated and as such the PoS mechanism that Eth is deploying was not deemed adequate for the energy market by the regulators. Therefore, the energy web chain works on an amended version of Ethereum (it is not ERC-20!) which leverages Proof of Authority - only global energy companies can host nodes to validate the chain - more on validators later.Launched in mid-2019, it has become the industry’s leading choice as the foundational digital infrastructure on which to build and run blockchain-based decentralized applications (dApps).Anybody can create a dApp on EW Chain, and the team are currently tracking 17 dApps that are scheduled to migrate across to main-net. Currently “The Energy Origin” dApp built by Engie is live - more on this later!You can check out their explorer here:Main-net: https://ift.tt/2W2oa0Y Test-net: https://ift.tt/35uO8NW current AMAhttps://medium.com/@HSVGTS/energy-web-community-ama-1-april-2020-e63650df0f48Validators OverviewFull list of validators here:validators.energyweb.orgSome of the validators for the chain for those that don’t like links:Shell EDF Engie Total PTT Fluvius Elia Group Stedin CentricaThese companies host nodes to support the network.Ecosystem overviewShell - $388BPTT - $53BTepco - $63BTotal - $209BExelon - $36BState Grid Ev service (subsidiary of State Grid Corp of China) - $363BAcciona - $8BChubu - $22BStedin - $1.2BEnBW - $25BEDF - $75BEngie - $65BEneco - $4.5BSiemens - $94BSP Group - $4.1BTenaska - $11.9BWipro - $7.7BPG&G - $17.7BCentrica - $37.1BAGL - $8.1BAPG - $1.2BAES - $10.7B100 more.Sum = $1.5tn of revenue between the 22 largest companies that make up the ecosystem.Goal of the Energy Web ecosystem and maths behind their growth predictions:“Our goal is to reduce 10 gigatons of global greenhouse gas (GHG) emissions from the energy sector over the next decade by onboarding over 225 million low-carbon energy assets into applications supported by EW-DOS. This will result in 870 GW of additional renewable generation capacity and 515 GW of low-carbon demand-side flexibility. Together, these equal more than the entire installed electricity generating capacity of the United States.”https://medium.com/energy-web-insights/digitalization-means-decarbonization-4e4b1af21d63“we project one-third of total wind, solar, and biomass resources (in terms of installed capacity) to issue EACs via platforms built on Origin by 2030, increasing from 0% today.”“As shown below, achieving our goals (at least 870 GW of additional renewable generation and 515 GW of DER / DR capacity) will require onboarding roughly 225 million assets into EW-DOS.”This equals a lot of on-chain activity.So that briefly covers the chain and ecosystem, which anybody can create dApps on, but where is EWF’s value add?The Energy Web Foundation has created two toolkits to help companies build on the Energy Web chain, these are detailed below:Energy Web Origin- (NOT THE SAME AS THE ENERGY ORIGIN - THE DAPP BY ENGIE)The EW Origin suite of SDKs supports existing and emerging renewable energy and carbon markets to simplify and enhance the issuance, tracking and buying/selling of energy attribute certificates (EACs), including renewable energy certificates (RECs), guarantees of origin (GOs) and international I-RECs.Energy Web Flex-The EW Flex suite of SDKs enable grid operators including vertically integrated utilities, distribution system operators (DSOs) and transmission system operators (TSOs) to integrate distributed energy resources (DERs) into energy markets and demand flexibility programs.Energy Web TokenThe platform is powered by the Energy Web Token (EWT) which is an evolution of Ethereum. The EWF recognized that Ethereum wasn’t suitable for the energy sector, which requires higher TPS for devices and higher security, in line with regulation.So what is the use of the token?First off, in a recent AMA, Jesse (CTO) said this;Q- Can you confirm all Validators do in fact have to buy and sell tokens from exchanges or is there another process open to get EWT, like OTC?A- The only place where tokens can be bought or sold are the exchanges where EWT is listed. This is why the Energy Web team is working on getting EWT listed on additional exchanges so more people have access to EWT (more announcements on additional exchanges coming soon).The team have also said;“It is likely that validators that are running use cases will not be able to generate all tokens needed by themself, so they’ll need to buy”.So companies that need tokens, must buy (in the future via a treasury service) from exchanges.Intrinsic uses;Validator compensation - to pay for transaction fees and block rewards Chain security - to protect the network against transaction execution misbehaviourExtrinsic uses;Collateral - to enhance trust at the app level, e.g. in representations Community fund - 38m tokens put aside for further software development, bounties etc.Volume based approach to value- Small fees, large numbers of transactions.Currently 3m monthly transactions on test-net with this anticipated to grow exponentially as more value is pushed through the system and 250m devices are added.EWT is currently listed on Liquid and from the 7th May will be listed on BitMart.Supply & Market CapTotal supply: 100mCirculating supply: 46m25m of that currently sits within the ecosystem with the energy companies.21m is outside from the affiliate sales.Current market cap is therefore $92mLet me guess, its put you off somewhat?Some of the validators for the chain:Shell TEPCO EDF Engie Total PTT CentricaCompanies within the ecosystem have a combined revenue of approx. $2tn a year and they have COMMITTED to using the ecosystem.The chain is 9 months old, has averaged 3m transactions per month on testnet and 17 apps are in production for mainnet, with one already live.Companies above are set to capture a third of the total market for renewables, with the devices pledged to run on-chain.Compare this to any other blockchain platform and then tell me it’s overvalued.Also worth noting that LINK has never had a market cap lower than $49m, it’s comparable. (BTW cool fact - LINK provides the oracle services for EW Chain)Current Apps and Those in DevelopmentTEO by EngieThe Energy Origin by Engine is the first app released on Mainnet, Engie are a $65B French global energy company.The Energy Origin (TEO) is a startup incubated within Engie since September 2018 accompanying customers towards the 3 X 100% goals for the future of energy systems “100% renewables, 100% time, 100% local”. TEO focuses on turning energy data into clear, compelling and trustable products through the use of Blockchain Technology. TEO commercializes an innovative solution to certify green energy production and consumption allowing customers to choose where their green electricity comes from and trace it back to its origin.The TEO dApp leverages blockchain to improve the traceability and transparency of green energy, while also expanding the capabilities of supply-demand matching between renewable generators and corporate buyers, such as by choosing green energy on the basis of type of renewable energy, geographic distance from a given facility, and amount of carbon offsets.https://www.youtube.com/watch?v=WMUwZBCH7_Y&feature=emb_titlehttps://www.energyweb.org/2019/09/19/blockchain-teo-the-energy-origin-is-the-first-application-to-migrate-onto-the-energy-web-chain/PTT ThailandThe second app that is scheduled to go live on mainnet is built by Thai Energy company PTT, revenue $53B. Due to go live in May 2020.“Bangkok, Thailand, and Zug, Switzerland — September 11, 2019 — Today, Thailand-based multinational energy conglomerate PTT and global energy blockchain nonprofit Energy Web Foundation (EWF) jointly announced the development of a new blockchain-based renewables platform. The application will be built on the Energy Web Chain and leverage the EW Origin family of open-source software development toolkits to create a regional solution compliant with the International REC Standard (I-REC).”“PTT is responding to strong corporate demand for renewable energy certificate (REC) options in Thailand and the broader ASEAN region. Multinational corporations are looking to buy regionally sourced RECs matched to their demand from existing and new facilities in the region.”“To date, Thailand and the ASEAN market more generally have largely been an untapped market for I-RECs. In 2018, some 1.2 billion energy attribute certificates (EACs) were traded globally. Yet renewable energy certificates (RECs) in the United States and guarantees of origin (GOs) in Europe accounted for the overwhelming majority of global EAC market activity. The ASEAN region only had about 5 million MWh of certified I-RECs, which represents less than one-half of one percent of global EAC markets.”https://ift.tt/3b3N8Sa wholly owned subsidiary Sonnen are building a digital power plant on the the EWF ecosystem. (Shell themselves are a validator)“Zug, Switzerland — March 12, 2020 — Today the Energy Web Foundation (EWF) announced that the sonnen Group (sonnen) has unveiled a new virtual power plant (VPP) in northeastern Germany that leverages the Energy Web Chain and the EW Origin suite of software development toolkits (SDKs). A network of distributed residential energy storage systems comprise the VPP, which is used to absorb surplus wind generation and thus avoid curtailment of renewable energy by charging the batteries when wind energy is abundant.”“With a flexibility market for renewable energies and the automatic exchange of supply and demand via the digital exchange ‘EW Origin,’ we are realising the next step towards a smart grid that can deal much more flexibly with fluctuations from renewable energy,” says Jean-Baptiste Cornefert, Managing Director of sonnen eServices. “Virtual power plants such as those from sonnen are the technical building block for this power grid that has been missing up to now and can help to ensure that less green energy is lost.”“The sonnen Group is one of the world’s leading manufacturers of smart energy storage systems and a pioneer of clean, decentralized and networked energy system technologies. As one of the fastest growing tech companies in Europe, sonnen has received numerous internationally recognized awards. With its virtual battery, which consists of digitally networked home storage systems, sonnen offers new and highly innovative energy services for network operators and customers. sonnen’s products are available in many countries and has offices located in Germany, Italy, Australia, the UK and the USA. Since March 2019 sonnen is a wholly owned subsidiary of Shell within its New Energies division.”https://ift.tt/2xx9w8y GroupSingapore’s SP Group launched one of the world’s first blockchain-powered renewable energy certificate (REC) marketplace.The SP marketplace supports local, regional and international RECs which domestic and overseas buyers can access.SP decided to implement a blockchain-based solution to offer an improved system compared to their competitors. The utility firm hopes that blockchain can furnish better security, integrity and traceability.SP’s Chief Digital Officer, Samuel Tan, said, “Through blockchain technology, we enable companies to trade in renewable energy certificates conveniently, seamlessly and securely, helping them achieve greener business operations and meet their sustainability targets.”Mike Power, COO of Technology and Operations, at DBS added: “As Southeast Asia’s largest bank, we recognize the leadership role we can play in promoting sustainable development, including supporting innovations in renewable energy. SP Group’s blockchain REC platform will make it more economically effective for organizations and will catalyze the transition towards a low carbon economy. “The project will also help Singapore achieve its low carbon targets as part of the Paris COP-21 climate change agreement.Others that I could easily find…MinnaJapanese utility company announced they completed a joint test of blockchain for the renewables market on EW Chain.Electron - In the field of cybersecurity, Electron, a British startup, is developing a smart meter registration platform for gas and electricity and is researching advanced encryption techniques for smart meters [85].StedinEnergy21 and Stedin have a blockchain solution that enables local energy markets to transact with each other and with wholesale energy markets. This forms a layered energy system that links local energy markets and microgrids to wider national markets taking a system and market-based approach rather than depending on P2P energy transactions.Grid SingularityBased in Austria, Grid Singularity aims to provide several blockchain solutions for the energy sector, including trading of green certificates [213]. Grid Singularity is a founding member of the Energy Web Foundation [72]. Grid Singularity, a founding member of the Energy Web Foundation, is also working on providing smart grid management solutionsEvolvePowerEvolvePower develops blockchain solutions for energy utility companies and grid operators, enabling them to get better visibility, access and control over data at the grid edge.Slock.IT (In partnership with Siemens, Innogy and Samsung)In Germany, Slock.it aims to develop IoT applications and a platform for sharing economy, named the Universal Sharing Network [222]. They have partnered with Siemens, Innogy RWE and Samsung and are currently supporting various research projects that aim to accelerate the development of Ethereum and smart contracts technologies.OLIBased in the US, Oli is focusing in optimisation of energy system components, such as single power plants, demand services, storage providers but also more complex energy systems comprising multiple components.WirepasWirepas, the IoT provider, has been testing blockchain technologies in collaboration with the Energy Web Foundation. They aim to connect IoT devices to distributed ledgers, especially devices deployed on the consumer side or the grid edge [233].Share&Chargeplatform developed by Innogy Motionwerk and Slock.it, allows P2P transactions between EV drivers and private EV charging infrastructure owners. The EV charging stations network runs on public Ethereum and smart contracts. Innogy has launched hundreds of EV charging stations across Germany since May 2017 [236].PLEASE SUBSCRIBE TO OUR SUBREDDIT R/ENERGYWEB TO STAY UP TO DATE WITH ALL UPCOMING ANNOUNCEMENTSA complete list of all articles written by community member, HSV.https://ift.tt/2yuqaGj Interesting Linkshttps://www.sciencedirect.com/science/article/pii/S1364032118307184https://www.ledgerinsights.com/enterprise-blockchain-ibm-platform-aws-azure/https://medium.com/@HSVGTS/energy-web-community-ama-1-april-2020-e63650df0f48https://www.youtube.com/watch?v=v0gT7axdXfAhttps://medium.com/@HSVGTS/energy-web-review-the-grids-new-digital-dna-86f80217634dhttps://medium.com/energy-web-insights/digitalization-means-decarbonization-4e4b1af21d63
Submitted May 05, 2020 at 02:37PM
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