Swytch to work with Energy2market GmbH (e2m) for blockchain-based renewable energy pilot

Climate change is one of the major threat for the 21st century, and the politics is not helping anymore. Blockchain tech is considered to be one of the saviours in this regard because of its property of security and immutability.

Austin based Swytch has announced that it will be working with German-based aggregated energy trading company e2m for blockchain based renewable energy trading. Swytch is a blockchain based platform which leverages open “Oracle” technology to reward its users with a token, based on the amount of carbon displaced. The logic of collaborating with e2m is because of the expertise it has in the energy trading business in one of the most renewable energy friendly country. It has a bundled generation capacity of more than 3,400 MW and is one of the biggest direct marketers in Germany. The benefit for e2m is best summarised by it’s CEO Andreas Keil

“Countries, like Germany, will begin phasing out their incentive programs in the next few years. We need to prepare for the future and identify new subsidy instruments and trading mechanism.”

Thus e2m will undoubtedly have better insights into the blockchain based energy trading market which is considered to be the future of energy trading business.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s