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Manchester, UK – 10th May 2018: Energi Mine, the AI-based energy company, today announced the beta launch of its Energi Token rewards platform.
Energi Mine is revolutionising the global energy market through decentralisation and blockchain technology with the ultimate goal of reducing global energy demand and carbon emissions. It is creating a global ecosystem that provides financial incentives for businesses and consumers to save energy with a new rewards system. Energi Mine provides its utility token, EnergiToken (ETK) to consumers in exchange for engaging in energy saving behaviours such as using public transportation, purchasing energy efficient appliances to reducing energy consumption.
ETK can then be used though the ETK app for paying energy bills, charging electric cars or even exchanged for fiat currency. As ETK has financial value it creates a ‘profit’ motivation for consumers to conserve energy, resulting in people who are naturally motivated to save energy due to the financial reward. It’s a wholly different and unique approach to the problem of excessive energy consumption. The initial phase one of the ETK rewards app, which remunerates consumers for energy efficient behaviour, will enabled owners of electric vehicles to upload proof of purchase documentation to claim tokens. The phase one EnergiToken app will be released on 10th May in English, with the Korean version following by the end of May.
The underlying blockchain technology and use of smart contracts ensures complete transparency and trustworthiness for all Energi Mine users. The company is currently streamlining the technology interface with the help of various partners to make the platform accessible globally in their effort to foster a community that supports small energy producers and companies wishing to decrease their energy costs.
Omar Rahim, CEO of Energi Mine said: “In a market flooded with theoretical blockchain projects, Energi Mine is delivering a physical solution to a real-world problem at the heart of the energy sector. Energy companies the world over are broken, locked into a spiral of consumption that seems them sell as much energy as possible for as high a price as possible. To sustain this volume of selling, consumers are driven to use more and pay more. This is terrible for the environment. Instead of changing the system, governments are locked into a similarly futile battle, discouraging waste through taxation and levies. While this approach can successfully dissuade wasteful behaviour to some extent, it does not encourage long-term positive change. This can only be achieved through positive behaviour changes. A carrot rather than a stick.”
“Energi Mine will enable individuals to make a positive environmental impact trade through both the ETK rewards programme and blockchain-based P2P energy platform. Through these two key pillars Energi Mine will greatly change consumers’ behaviour patterns around energy consumption for the better, and present a viable alternative to the broken traditional energy market system”
Based on the app’s reward mechanism, Energi Mine has begun building partnerships with major corporations and organisations, to help them reduce their energy consumption and financially reward their employees for doing so. One of the current UK partners, the Energy Manager’s Association, works with some of the largest companies and energy consumers in the UK, including Network Rail, who will be involved in the trials of Energi Mine’s Ethereum-based blockchain platform.
In addition to the rewards app, Energi Mine enables P2P energy transfers using Energi Tokens as a medium. This process allows Energi Mine users to buy energy from other small scale renewable energy generators (such as solar or wind) or to sell their surplus energy to members of the Energi Mine community.
Get involved today, help be a part of the change! For more information about EnergiToken and its energy-saving reward scheme or to become a partner, please visit www.energitoken.com, follow on twitter at @EnergiMine or join the Energi Mine Telegram group
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