Swytch, a blockchain-based clean energy platform, today announced the successful launch of its platform that provides businesses with real-time visibility into their green energy production data to ensure anonymity and security and uses predictive technology based on artificial intelligence to create political sustainability.
The launch follows an operating beta test with Energy2market GmbH (e2m), a leader in aggregate energy trading across Europe. This large-scale pilot includes around 3.5 GW of solar, wind, hydro and biogas in Germany, which is sufficient to power over 500,000 homes.
Recognizing the need for simple and safe energy accounting, Swytch intends to address one of the most urgent challenges for the energy sector by creating a public public blockchain platform that digitizes energy production at the source. In this way, Swytch allows energy companies to access, control and analyze their information, in a decentralized environment that is immutable, secure and compliant.
"The energy sector creates a lot of data, but it's hard to turn it into a more efficient energy strategy," said Brad Hardin, CTO of Black & Veatch, a global leader in the design and implementation of critical infrastructures, such as data centers and a Swytch partner. "Swytch addresses this problem with a global data protocol and a distributed blockchain method to verify and track the energy production that occurs on its network, which is very attractive for our business customers behind data centers and other infrastructure projects. "
Reliable energy data is needed to orchestrate the network, design efficient markets and inform effective policy and investment decisions. Because the Swytch platform is built with blockchain technology, it frees data from a centralized governance structure in favor of a distributed approach. The distributed nature of the blockchain provides an unprecedented level of trust and transparency.
"The Swytch team has worked hard to develop our vision of a cleaner, greener world powered by renewable energy," said Evan Caron, co-founder and CEO of Swytch. "By collecting accurate energy data from multiple sources, Swytch creates an ecosystem for a smarter global energy network that anyone can participate in, creating immense possibilities to interrupt the energy sector."
Thomas Kostigen is a recognized industry pioneer in terms of sustainability and New York Times bestseller author. Kostigen believes that blockchain technology is making possible new things that are transforming the energy sector and the economy through transparent and responsible sustainability initiatives.
"Transparent and traceable data have the potential to drive change and encourage people to stop using fossil fuels," Kostigen said. "Swytch simplifies the use of data to validate energy sources and measure carbon offsets By rewarding sustainable behavior, we can reverse the trend towards reduced emissions".
Swytch is currently engaged in advanced project testing with a targeted array of multinational energy producers and renewable energy providers worldwide to bring its platform into their specific use cases.