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Category Archives: Blockchain Technology

Elering AS and WePower Announce a Pilot Project to Test Large Scale Tokenization of Energy Data on the Blockchain in Estonia

The project will be a real-world test using anonymized data to simulate and demonstrate what the future of energy trading utilizing blockchain technology might look in Europe

Gibraltar, January 2018Elering AS, an independent electricity and gas system operator in Estonia, and WePower a blockchain based green energy trading platform that aims to drive global green energy adoption and promote sustainable living, today announced a pilot project to test the large scale tokenization of Energy data on the blockchain in Estonia. This project is the first of its kind in Europe and will pave the way for a future practical test that will connect European green energy producers to the Estonian Smart Grid.

To achieve this, WePower will integrate its blockchain and smart contract powered green energy trading platform into Elering’s Estfeed data exchange platform. This will form a proof-of-concept system for Estonia, demonstrating nation-state scale tokenization of energy consumption and production data on the blockchain. This system will be first of its kind, enabling concrete steps towards a global blockchain powered energy trading. This will make energy trading accessible to prosumers of all sizes and configurations. WePower will be leveraging Estonia’s existing advanced smart grid infrastructure, particularly the 100% smart meter coverage with hourly reading and a central data hub. These are the ideal technical conditions to test the true scalability for tokenized asset trading technology and provide a stronger bridge between green energy producers and traditional grid operators.

“Elering’s motivation in this project as a transmission system operator is to enable energy innovation by removing market barriers. For that purpose we have built the Estfeed data exchange platform, which enables people to share their energy meter data with new service providers. WePower is a great example of the potential of innovation in the energy sector that can be unleashed by transparent data access,” said Taavi Veskimägi, CEO of Elering.

“We are thrilled to announce our partnership with Elering AS,” said Nick Martyniuk, Co-Founder and CEO of WePower, “as it is the first step in our goals of making the smart grid greener. Estonia is the perfect country to start with, as it already has an existing advanced smart grid infrastructure that we can integrate out technology into. This partnership is an excellent use-case to show the viability of blockchain technology in the green energy space, and marks a huge achievement towards creating a global blockchain powered energy trading network.”

About

About WePower:

WePower is a blockchain-based green energy trading platform. It helps renewable energy producers to raise capital by issuing their own energy tokens. WePower connects energy buyers (end users and investors) directly with the green energy producers and creates an opportunity to purchase energy upfront at below market rates. WePower has developed Ethereum Smart Energy contract tokens to standardize, simplify and globally open currently existing energy investment ecosystem. Energy tokenization ensures liquidity and extends access to capital. WePower wants to help build an infrastructure to bridge renewable energy producers output and traditional energy grid operators thus making the grid a little greener. WePower blockchain solution is already recognized by Elering, one of the most innovative Transmission System Operators in Europe. For more information please visit WePower.

About Elering AS:

Elering is an independent electricity and gas system operator in Estonia whose main duty is to guarantee high-quality energy supply to Estonian consumers at all times. To ensure energy security of supply, Elering maintains and develops both electricity and gas internal transmission networks and external connections. In addition to the physical networks Elering is developing a smart grid platform in order to enable efficient market functioning. The technical basis for the platform is the Estfeed data exchange layer that allows end consumers, energy service providers, scattered (small) producers and network operators to easily and securely access the data that is needed in their daily operations. For more information, please visit Elering.

Watch out Visa! PumaPay aims to change the face of the payment industry, overcoming the limitations of Bitcoin, Litecoin and other cryptocurrencies

PumaPay introduces a new open source blockchain-based billing protocol that will provide merchants with a comprehensive solution to process crypto payments

Gibraltar, December 2017—Decentralized Vision, the blockchain company creating a payment protocol that combines the benefits of traditional billing systems and blockchain technology, announces today the launch of its PumaPay Protocol; an all-in-one solution that overcomes existing blockchain payment limitations and offers robust billing mechanisms for e-commerce, online services and traditional merchants.

To date, the majority of retail commerce, both online and offline, revolves around credit cards: whether direct credit card processing or via ‘wrapper’ services. These methods impose high commission fees ranging around 3%-15% and feature other drawbacks to both merchants and consumers, that are common to centralized systems. Crypto currencies holds a great promise to overcome these disadvantages, but have yet to evolve into a widely accepted means of payment.

From its inception, the PumaPay protocol was designed from the ground up with the sole purpose of addressing these issues, with a flexible standardized protocol aimed to accommodate any billing needs. The protocol’s indefinite flexibility is derived from the innovative ERC223-compliant Pull Contracts in addition to other contracts.  

The PumaPay Protocol and tokens will support the most common transactions in the online and offline spheres such as:  pay per use, single payment, scheduled payments, and monthly subscriptions, thus providing a blockchain-based solution for everyday payments, which represent tens of billions of dollars in monthly economic scope. These transactions are currently untapped with existing cryptocurrencies, such as Bitcoin or Litecoin.

Dealing with one of the weaknesses of cryptocurrencies, the protocol will also include security extensions and mechanisms to ensure trust between merchants and customers, including:

  • Money back guaranty- enables the customer to cancel a purchase within a predetermined number of days after the transaction took place, and receive a partial or complete refund- subject to the business permission  
  • Restricted payments– enables the wallet owners to oversee and control their wallet activities or connected wallet activities.

The PumaPay Protocol is a flexible payment protocol that is mean to encourage outside input and development, as the Protocol comes with built-in modules, that the community can further develop. The core functionality of the PumaPay Protocol is represented by its on-chain architecture, which is made to be flexible and will evolve with the needs of the community.

In order to achieve rapid usage of the protocol, PumaPay is introducing a unique growth strategy, based on the allocation of 10% of PumaPay tokens to adaptors of the protocol, based on their usage of the protocol.

Yoav Dror, CEO of Decentralized Vision, the company behind PumaPay stated, “PumaPay intends to solve the genuine problem of utilizing cryptocurrency. Our easy to integrate open source solution, will provide a consumption outlet for the boiling crypto markets enabling vendors to harness cryptocurrency’s potential into their day to day billing mechanisms.”

PumaPay will soon announce an initial offering for the PumaPay Token.

Learn more on the PumaPay telegram channel here.

Bitcoin & Blockchain & Why You Should Care: NY Alternative Investment Roundtable

Bitcoin & Blockchain & Why You Should Care: NY Alternative Investment Roundtable

Source: Reggie Middleton

“It’s The Blockchain, Stupid!” – Using Bitcoin Technology to Revolutionise Event Ticketing

“It’s The Blockchain, Stupid!” – Using Bitcoin technology to revolutionise event ticketing.

Source: Core Finance