White-label blockchain platform for 24/7 renewable energy matching
How Does Greenlink Work?
Traditional EACs are issued for the generation of assets. The retailer needs to buy the EACs beforehand.
GreenLink collects the Consumption & Production data from SCADA, local smart meters, IOTs, APIs provided by the market operator, etc.
Greenlink creates wallets and defines unique tokens representing small fractions of the EACs.
Production and Consumption are matched on a 24/7 basis. Tokens are transferred to consumer wallets.
GreenLink allows consumers to visualize information such as the energy type, location of generation asset, and time of production they receive the tokens from.
Retailer retires EACs equal to the matched amount of energy in the consumer's name. Uploads the EAC certificate into the system.
Consumers can download the EACs retired in their name, see every single transaction on-chain and generate reports using data from GreenLink.
Tracking renewable electricity and managing decentralized energy grids is a complex process with many intermediary organizations, which results in added labor, time, lack of trust, and cost.
Blockchains can help streamline this complex process and increase trust in the market through their ability to enable verification, traceability, and transparency. It also dramatically expands the market by lowering the barrier of entry for small companies and individuals.
In addition, the presence of verifiable, immutable data from various sources coupled with smart contracts will generate promising opportunities. As a result, new business models and processes can be developed, resulting in added value for consumers, producers, and utilities.
Ok, but why blockchain?
- Tamper-proof data:
A blockchain network's participants can check whether a change to the state of the database is made, what was modified, and who initiated the change.
- Digital Assets:
Using an efficient and automated digital infrastructure to record and transfer assets and information, organizations can have minimal financial and administrative costs.
- Smart Contracts:
Self-executing contracts are stored in the blockchain and are run when predetermined external conditions are fulfilled. Due to the transparency and security of the blockchain platform, companies can trust that the terms of their agreement will be fulfilled precisely. This results in high degrees of automation and smoother data exchange between contracting parties.
- Available & Reliable:
Every node typically replicates the blockchain state, and many nodes are usually ready to process transactions. This results in a highly available and reliable system.
What do I need to start using Greenlink?
Internet connection and a browser.