Restart Energy Democracy (RED)
RED is a blockchain based energy ecosystem designed and backed by the European Union’s fastest-growing private energy. The RED platform will soon have over 27,000 households, multinational corporations and more than 3.000 SME’s ready for use daily.
What is the REB platform?
According to the official website, the RED Platform is a “Platform Software is a blockchain based decentralized platform for Peer to Peer direct energy trading between consumers and energy producers worldwide.”It is a platform where users can log in and trade energy directly P2P in an easy to use and decentralized manner. They can also gain access to restart energy services and obtain and use electricity.
How does the platform work?
The RED platform uses the RED MWAT token as its utility token. Users need to have the token to trade on the platform and also access to other services available on the platform. The token is used to Restart Energy Democracy using the blockchain technology. The Democracy is responsible for giving access to services provided by the platform software and the REB franchise.
The RED Franchise
The REB franchise is a simple and easy to start when you want to operate your power utility company. The franchise allows holders and developers to develop their power retail business and earn revenues by either selling energy to retailers, householders and business consumers. It’s an innovative, tested, working idea that helps in rapid growth and brings the decentralized world of energy closer.
Benefits of the blockchain technology
The team behind the RED ecosystem is aiming at building tomorrow’s blockchain energy trading platform today. The RED-P Platform (Restart Energy Democracy Platform) is vibrant and a sustainable place where users can find affordable energy. It is the place where affordable energy is created and consumed by anyone, anywhere. Some of the benefits of the RED-P platform includes:
- Free up capital
- Save consumers money
- Reduces transaction cost
- Help local and small energy producer to earn a living.
The sole aim of building the platform is the allows today’s closed energy markets to be tomorrows open and vibrant P2P energy exchanges
Uses case of MWAT token
The MWAT token is an ERC20 compatible token used on the platform. The token can use to:
- Buy and sell energy from producers
- Support local economy by buying from small energy producers
- Consume the energy accumulated in tokens
- Allow the user to start their energy business.
The RED platform is aiming for democracy, storage and providing Business Jobs for everyone using the platform Software.