It is barely news that many organizations and governmental bodies are now investing time, manpower, money, effort and even existing technology to investigate Blockchain technology and its’ offerings. What would be news is the fact that very few bodies are looking into the positive offerings of Blockchain technology with respect to energy. Two of such bodies, which have now come into a partnership are; WePower and the government of Estonia.
Estonia is a country in Northern Europe that has been spearheading digital innovations for numerous years now. Specifically in December of 2014, she launched her one-of-a-kind E-residency program which avails anyone with internet connectivity the chance of being privy to information such as banking information, payment processing and governmental services that were only previously privy to physical residents, in 2016 she fully transitioned her power grid into the digital world by completing the first ever nation-wide release of Smart metering systems, much recently she has started leaning towards cryptocurrency and its’ offerings as she intends to release her own cryptocoin “estcoin” which would help her gain the attention of established and emerging crytocurrency community to utilize her e-services.
WePower Network, on the other hand, is a platform that is concerned with the application of Blockchain technology in green energy trading. To help them reach their goal of full cycle energy trade based on Blockchain technology, WePower has partnered with three Estonia-based companies. In a bid to give credence to the importance of their project, earlier this year, WePower raised $40 million for this cause.
It is obvious that WePower is interested in using Estonia as the location for their findings due to the activities going on in Estonia, the existence of infrastructure needed for a fully integrated solution across the whole energy trading value chain in Estonia as well as the willingness to work with WePower to test an efficient energy trading ecosystem on a nation-wide basis.
The Estonian companies WePower partnered with are:
1) Elering AS: this independent company concerned with electricity and gas system operations will be launching a premier project that will be looking into the large-scale tokenization of green energy data on Estonia’s Blockchain. WePower will then have its’ Blockchain and green energy trading platform based on smart contract integrated such that the first ever proof-of-concept system for Estonia that would depict her tokenization of energy consumption and production data on Blockchain will be developed.
2) 220Energia: WePower and 220Energia will be collaborating to research Blockchain technology’s use in across-the-border sale of retail green energy in Europe. 220Energia will help develop specific retailed green energy solution and services necessary for tokenized energy to be bought and traded.
3) Eleon: this windpower technology-based company will look into and start working on a windmill installation financing model based on WePower’s platform. They will be helping WePower to test energy tokenization in terms of energy production.
Nikolaj Martyniuk, WePower’s CEO and Co-founder asserts that these partnerships will help develop the first ever nation-wide tokenized energy system and the world waits with fingers crossed to check the reality of this.
