Blockchain / Distributed ledger technology (DLT)-based clean energy incentive Swytch has proclaimed it has become an affiliate of the Energy Web Foundation (EWF), a worldwide nonprofit organization centered upon speeding up DLT across the energy sector, according to a press release CoinReport received from FortyThree, Swytch’s PR company.
As an affiliate of the EWF, Austin-based Swytch will be working with the world’s biggest utilities, blockchain developers and power customers to build a decentralized electricity grid. With the evolution of the Swytch platform, EWF’s open-source blockchain and tools, which are specifically designed to the requirements of the electricity sector, will be vital for worldwide integration, says the release.
EWF vice president Ewald Hesse stated, “Energy Web Foundation and our global ecosystem of Affiliates are tenaciously working together to advance blockchain technology in the energy space.
“Of blockchain’s many potential uses in the energy sector, its role to help decarbonize electricity grids around the world is of utmost importance. We are excited to welcome Swytch into the EWF Affiliate network and support its efforts to help the world reduce its carbon footprint.”
Swytch exploits DLT and smart meter to find, confirm and incentivize firms and people who cut down on carbon emissions the most. An open-source “Oracle,” found at Swytch solution’s core, will enable several algorithms and models to find out how much carbon is being moved and how many Swytch coins to award.
Swytch founding partner and managing director Evan Caron commented, “The opportunity to work with other thought leaders in the space will allow Swytch to continuously stay ahead of the curve on both the blockchain and energy fronts.
“As an open-source clean energy blockchain platform, we look forward to working with EWF and its members to engage in the development and refinement of the Swytch platform.”
EWF, presently, has over 50 affiliates from all over the world. The affiliates include some of the world’s biggest energy organizations, and over 30 firms that are actively creating and trialing applications on the Energy Web blockchain.
Image via Swytch’s press kit