Greek SME which operates in the field of research and development of information systems has invented an automated, decentralized marketplace of energy assets, built and operated on a blockchain. The client seeks partners either for further research and development of the platform, or for technical co-operation agreement for the application, adaptation and testing of this system.
This is a Greek social cooperative enterprise specialised in research and development, particularly in the field of decentralized computing, integrating blockchain technology and smart contracts in the sectors of energy and environmental management of natural resources. It also has expertise in decentralized finance, decentralized identification systems and decentralized autonomous organizations. It has developed an open market for the energy sector using a decentralized, peer-to-peer platform for energy asset trading between industries and enterprises on a national level. It is based on blockchain smart contracts, so that it remains fast and secure, without requiring central ownership, and uses self-sovereign identity and multiple-level cryptography to handle user data in a privacy-preserving, data-portable way. It is independent and self-reliant and is intended for use in digital energy markets where the ecosystem is not only highly competitive, but also needs to remain transparent and standardized in order to follow European regulations. This digital system is easy to set up and run, and it allows users to list, sell, buy, and place orders on any representable energy asset. Thus, it has a variety of applications, such as trading in megawatt hours of arbitrary energy, or specific energy assets created for targeted markets. No matter the client’s requirements for regulation conformity, trading volume or specific energy assets transactions, this open energy market can host everyone, from the simplest energy trading system required in the context of a small solar energy community, to a nationwide industrial natural gas trading system between large enterprises and the national carrier network. The company is searching for technical and research cooperation agreement as well as joint venture collaboration with educational institutes or technology integrators and research facilitators.
Advantages and innovations
This peer-to-peer platform is an automated, decentralized and open marketplace of energy assets, which incorporates self-sovereign identity for its users, so they have control of their digital identities and can safeguard the confidentiality and security of their legal entity. As this platform is built and operated on blockchain technology, it always remains online and available, without downtime. Through its digital smart-contract system, transactions are automatically executed when predetermined terms and conditions are met. All buy / sell orders close instantly and with absolute finality, so assets are transferred to the true ownership of contract parties within seconds. Orders are cheap to list and process, and incur only minimal processing fees. In addition, secure and permanent records of all the transactions are kept on the blockchain as verifiable proof of every contractual sale / transfer, ready to be used for any regulatory need. This marketplace is modular, thus energy assets of any value range can be represented and traded, and the technology supports it in the same way. As such, it is suitable for any company looking to conduct its energy asset trading, using a permanently available online platform, no matter its scale or trading volume. The technical prototype is rated for up to 6 transactions per second. This system can also be used by separate digital systems (blockchain, conventional or hybrid ones) and has the added advantage of being able to automatically calculate CO2 records and certificates for participating Industries, as per European environmental law. Since this platform uses a blockchain system, it belongs to no-one individually, but is built to serve the community and the network of users itself.
Contact / source: NEXT EEN Widgets (europa.eu)
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