Greeneum, found online at Greeneum.net, is a global community that aims to connect multiple entities in the energy supply chain. Find out how it works today in our Greeneum review.
What Is Greeneum?
Greeneum is a blockchain-based marketplace that aims to connect all entities in the energy supply chain. The platform uses smart contracts and AI machine learning to create a decentralized, sustainable energy market. AI is used to predict prices, for example, and to provide optimal rates to consumers and producers.
The end result is smart monetization for real-time energy transactions, with all transactions conducted over a blockchain based marketplace. The ecosystem uses an ERC20 utility token called GREEN.
Greeneum was launched by SolarChange’s founders. The company is headquartered in Tel Aviv. Today, Greeneum’s network is running testnets and pilots in Europe, Cyprus, Israel, Africa, and the United States. The project and an MVP for the platform are scheduled to be released by mid 2018.
How Does Greeneum Work?
Greeneum uses blockchain, smart contracts, and artificial intelligence to incentivize and decentralize the energy marketplace, allowing stakeholders to reliably produce, trade, and consume energy. The end result is a greener world with a reduced carbon footprint.
The ecosystem is expected to bring together energy producers, utilities, grid operators, energy traders, and consumers into a single platform, allowing users to trade energy and data directly with one another.
Meanwhile, Greeneum uses AI to identify, validate, and predict the production of renewable energy resources globally. This leads to increased efficiency while encouraging the use of renewable energy.
Greeneum users can also monitor real-time energy usage, then use that data to create more accurate predictions and optimization recommendations.
Ultimately, Greeneum’s solution can be broken down into a dual system, including the network and artificial intelligence.
The Greeneum Network (The Blockchain)
The first part of the system, the network, uses blockchain technology to secure, track, and manage billions of energy trades. Utilities and energy providers can use the network’s smart contracts to customize the data insights they collect. A utility with branches across the country, for example, may request to receive data from only one specific location.
Artificial intelligence and machine learning are the second parts of the system. These systems are used to further validate energy data flowing into the network to generate forecasts. Greeneum Network users can reap this data for insights.
What Problems Does Greeneum Seek To Solve?
Greeneum believes today’s energy systems are notoriously outdated and inefficient. Many energy systems are plagued by the challenges of transitioning to low-carbon sources. Others have poor grid reliability and low transparency.
Politics is also getting in the way of green energy. Greeneum mentions California, for example, which has high solar and wind energy usage, and yet consumers in California continue to pay some of the highest electricity bills in the United States.
Greeneum aims to solve that problem by creating the dual system mentioned above. That system is currently undergoing testing in Ukraine, Israel, London, Mexico City, New York, San Francisco, Los Angeles, Guinea, Argentina, Turkey, and Mumbai.
Greeneum aims to create a green energy ecosystem by implementing all of the following features:
- Green Certificates: The Greeneum data system incentivizes green energy production with green certificates (GC) and carbon credits (CC).
- Greeneum AI Integration: Greeneum uses proven and patented AI algorithms to create an optimization system for energy market stakeholders. That optimization system includes real time predictions for the energy market, as well as an energy management platform for consumers and producers.
- P2P Energy Trading: Greeneum uses smart contracts on the Ethereum blockchain to create a marketplace for energy producers and consumers worldwide.
- Global Data System: Greeneum’s global data system enables the trading of energy related data and insights using Greeneum Coins.
- Connected to the Local Energy Grid: Greeneum’s energy trading system is connected to a local energy grid, and allows the trading of free P2P energy.
The Greeneum ICO
The Greeneum.net official website mentioned that a whitepaper would be released in September 2017. As of October 26, that whitepaper has still not been posted. The website also mentions that an ICO is scheduled to take place in October or November 2017 (we assume the ICO is for Green Coins, or GC). However, no ICO announcement has been made at this point.
Ultimately, we assume the ICO is still on track to launch in November or before the end of 2017. However, limited information is available online.
Who’s Behind Greeneum?
Greeneum is led by Assaf Ben-Or (Founder and CEO) and Elya Katsir Dolev (Co-Founder and CTO). They appear to have offices in Tel Aviv and Salt Lake City (the company is headquartered in Tel Aviv, but Salt Lake City is mentioned in some press releases).
Greeneum was founded in December 2016 with the goal of decentralizing the clean energy marketplace through the use of smart contracts, blockchain, and artificial intelligence.
The founders behind Greeneum launched the Solarcoin ecosystem in 2014, then launched the Solarchange platform in November 2016. That platform was the first blockchain based clean energy application worldwide. It has 4 USA-registered patents and proofs of concept worldwide, including the national energy grid of Cyprus.
Greeneum is a green energy marketplace that aims to make it easier for users to buy and sell green energy in a decentralized marketplace. The platform is being developed by the same team that created Solarcoin and Solarchange.
To learn more about Greeneum and their upcoming ICO, visit online today at Greeneum.net.