Category Archives: Blockchain Trading Platform
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 2018 — Elering 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.”
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.
October 2017, Zug, Switzerland – Chinese-American Billionaire and majority shareholder of French football club, OGC Nice has been appointed to the Board of Directors of next generation FinTech company, trade.io effective immediately. Mr. Lee comes with over 30 years of global entrepreneurial and venture capital experience. Mr. Lee is the founder and CEO of private equity firm, NewCity Capital, and is also the co-founder of 7 Days Group, one of the largest budget hotel chains in China. Mr. Lee is also the co-owner of OGC Nice FC, a French association football club based in Nice. Additionally, Mr. Lee is the co-owner of The Grand Ho Tram Strip, the largest integrated resort in Vietnam.
Jim Preissler, CEO of trade.io said of Mr. Lee’s appointment:
“I’m delighted that Mr. Lee is joining trade.io’s Board. His track record speaks for itself, and his senior expertise in business development coupled with his experience across global markets will prove to be invaluable for trade.io. His reputation in both Asia & America as a leading businessman and investor, and keen sense of identifying quality companies to work with will be inspirational and meaningful to the entire team at trade.io.”
Mr. Lee said of his appointment:
“I have worked with Jim Preissler in previous business ventures with positive results. When he approached me initially about joining the board of trade.io, I was impressed with trade.io’s approach and prospects for the future. They have very ambitious goals and I feel they have the experience and resources to reach these goals.”
The company is now offering up to 275 million TradeTokens, which are available to purchase via pre-ICO from 7 November 2017 to 21 November 2017, with the ICO occurring 22 November 2017 to 29 November 2017.
trade.io democratizes the financial markets and saves money for investors and companies through reducing and eliminating fees and inefficiencies by utilising its innovative Blockchain trading platform. Disrupting a whole ecosystem of banks, advisors, markets, and record keepers which are extracting fees and can be disintermediated and commoditised by more efficient peer-to-peer Blockchain platforms. The trade.io exchange not only supports trading of assets, but supports a more efficient listing of assets in the crypto economy under the indelible and trusted history that Blockchain provides. The company couples these operational assets with investment banking experience, senior advisory expertise, as well as operating their system in a regulated and compliant environment.