In 2016, Restart energy made a tremendous growth and impressive performance towards building a block chain based ecosystem for p2p energy trading in decentralized countries and regions. It was on this premise that they received a prestigious award from Timis county regional chamber of commerce.
Speaking on receiving the award, Restart Energy’s CEO, Armand Doru perceives it as a great honour. According to him, it only proves that they are on the right track. They are growing exponentially and this real life growth should help them attract people to their ambitious block chain project. He further stated that the Restart Energy democracy platform is going to transform the way people think about energy in general. It would also give them a unique opportunity to become independent energy traders,, save on costs and generate profits.
Restart Energy’s objective centers on creating an efficient, cost effective and sustainable way of meeting future global energy demand. They hope to achieve these objectives through their peer-to-peer, fully decentralized energy transfer platform and RED MWAT tokens (these are crypto tokens that enable virtual storage of electricity and will facilitate the development of clean affordable energy) that will store real energy and can be traded by individual customers.
Restart Energy currently boasts of $20 million (twenty million dollars) in revenue, this to them is just a steppin as they still intend to launch its public presale (15.1-12.II.2018) and ICO (14.II-14.III.2018). After the launch, the activation of its energy trading platform- Restart Energy Democracy or RED for short will be followed shortly. The RED ecosystem which comprises of the RED platform, RED franchise and RED MWAT tokens will be the pioneer of its kind in the world being that it is the only block chain energy solution designed to work with existing laws and regulations. This is termed a technological marvel as it would transform the way energy is bought, sold and consumed using big data (the use of different predictive analytics methods, user behaviour analytics or other analytics methods that gets values from extremely large data sets), IoT (internet of things which is the network of physical devices and items that are made up of electronics, network connectivity sensors and anything in particular that enables these objects to connect and exchange data), AI (Artificial intelligence which is often termed machine learning is intelligence displayed by machines, robots, devices as opposed that of humans and animals) and block chain.
What the block chain technology does is that it allows energy networks to be controlled through smart contracts. What is most fascinating is that costumers can pay for energy using crypto currencies. As mediators, people who act as a link between people are gone; the system gives room for greater transparency and flexibility. This will in turn lead to lower transaction costs and reduce energy prices for costumers.
Block chain technology comes with a lot of advantages but most importantly what it does is that it provides the basis for transparent control of metering, billing and clearing processes when dealing with electricity. It is a relief that the Block chain technology has made these changes. General processes and transactions have now become more transparent. Intermediaries are no longer needed as they have been the reason for extra charges on projects and transactions.
With the ever increasing demand of crypto currency in every sector and the need of companies to be more transparent in their dealings with customers, it would not be a dead man’s tale if we tag crypto currency as the future of every transaction, the need for Restart energy to inculcate this into the energy sector only makes it more authentic and gives us reasons to believe that by the time other key players in the energy sector take on this initiative, Restart energy being a pioneer would already have paved a way for them thus encouraging the ever so beautiful method of transparency in business
Restart energy’s aim is to democratize the energy sector and totally get rid of the dominance of legacy monopolies in the energy world. It is also quite pertinent to note that Restart energy already includes a customer base of 27,000 (twenty seven thousand) household and 3,000 (three thousand) corporate clients, growing up to 2,000 (two thousand) clients per month. With its impressive growth; 400% in 2016 and 425% in 2017 it is evident that Restart Energy is here to stay.
It is therefore right to applaud the Timis regional chamber of commerce for awarding Restart energy for a job well done over the years whilst hoping and expecting more achievements from them.
Links of interest:
Announcement Thread: www.bitcointalk.org/RED