Prosume – PEF ICO PROSUMErs Energy Foundation Blockchain?
Prosume, found online at Prosume.io, is a blockchain-based platform that aims to optimize the world of renewable energy. Find out how it works today in our Prosume review.
What is Prosume?
Prosume is a blockchain-based platform that implements a decentralized, self-regulated monitoring system to promote clean energy usage.
Using that system, Prosume guarantees an autonomous, independent, and digitized smart place that will permit users to exchange different energy sources, promoting and accelerating new energy community models.
The ultimate goal is to create a blockchain platform that decentralizes power, boosts environmental sustainability, provides a strong energy exchange, and offers good transparency and traceability.
The name of the platform comes from the term “Prosumers”, which refers to someone who both produces and consumes a certain thing – like energy. In the Prosume ecosystem, a prosumer refers to someone who both uses and produces electricity – say, if you’re producing energy, using energy, and selling it to the network.
Prosume has been in development since September 2016. The first pilot project took place with a European utility in March 2017. By Q1 2018, Prosume aims to release an alpha version of the private locked trading platform in pilot sites.
How Does Prosume Work?
Prosume uses blockchain to enable peer-to-peer energy trading. This leads to a transactive energy network and a decentralized energy market, with the end result being a new economic model for energy production, distribution, and storage.
The platform connects independent producers, consumers, utility companies, and energy communities into a locally shared marketplace. In that marketplace, each individual is free to buy and sell energy in a multi-tenant ecosystem.
Prosume will be accessible through a mobile app. Producers and consumers will interact on that app to determine the fair price of electricity. Trading algorithms and smart contracts will do the matching and settlement.
And, using the mobile app, users can match different profile presets for the best offer, the greenest offer, the most customized offer, and the nearest local offer. Consumers can choose based on their needs, possibilities, and ethics.
Prosume Features and Benefits
Prosume’s blockchain platform is expected to lead to the following advantages and features:
- Promote self-consumption and self-sufficiency of energy, and a local energy storage community process
- Allow independent renewable energy players to sell energy at a fair price according to local legislative framework
- Allow consumers to choose from a list of available energy sources based on their needs and ethics
- Improve the reliability of energy in rural, off-grid areas
- Increase competition in the world of decentralized energy
- Give consumers the flexibility to choose their own power sources
- Educate consumers by allowing them to trace their energy sources
- Digitize energy assets for enhanced transferability
Uses for Prosume
Prosume is designed to be flexible and customizable. Users can build decentralized applications on the platform. Some of the potential uses for Prosume include:
Crypto-Equity for Renewable Energy Projects:
With Prosume, prosumers are incentivized to participate in the promotion and use of renewable energy plants owned by the community. This is expected to reduce the cost of implementing renewable energy systems in communities worldwide.
Peer-to-Peer Energy Exchange Platform:
The platform provides users with a simplified payment method to acquire energy using different tools, which means they receive a direct benefit on transaction costs and reliable data forecasts.
Smart Community Energy Aggregator Development:
The platform empowers people to participate in specific aggregators’ requests of energy demands, allowing consumers to choose from different energy sources with specific criteria (say, between green, local, fossil fuel, and sustainable energy sources, for example).
Smart Metering, Billing, and Energy Usage:
Prosume aims to digitize and empower consumers with autonomous, independent, and reliable data.
Storage & Transmission Exchange for Load Balancing:
Prosume aims to empower the production of renewable energy use during peak periods (i.e. load balancing).
Electric Vehicle Platform:
Prosume will enable the development of an electric vehicle management app, allowing data collection, identity management, and energy barter systems.
The above applications will be provided on a B2B model to partners managing local infrastructures and installed capacity.
The Prosume ICO
The Prosume ICO will use PEF tokens, which are ERC20 derivative tokens built on Ethereum. The ICO began on September 27, 2017 and will last until November 5 (early period), while the second stage of the ICO will start in November and last for 6 weeks, with bonuses decreasing every week.
Who’s Behind Prosume?
The Prosume project is being led by the Prosume Energy Foundation, which is based in Zug, Switzerland (“Crypto Valley”). Key members of the team include Alex D’Elia (blockchain strategy), Massimo Ferronato (Blockchain Security), and Alfredo Giardina (energy and blockchain policy).
Prosume is a blockchain platform that believes the future of energy usage is in “prosumers” – including individual consumers, energy communities, and businesses. These three parties will interact with each other through a blockchain-based marketplace, exchanging and selling energy at a cheaper price and in a more sustainable way.
To learn more about Prosume, or to participate in the ICO today, visit Prosume.io.