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Tokenized renewable energy certificates on Waves Enterprise Blockchain

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GreenTrust Links:

Demo Site: 🍀 Team Site: 🐤 Github: :octocat: Team Telegram: 💬

The future is green energy, sustainability, renewable energy. (c) Arnold Schwarzenegger

What is Green Trust?

Green Trust is the prototype solution for Renewable Energy Certificates (RECs), based on Blockchain. It uses Waves Enterprise as effective PoS public/private hybrid blockchain to allow it's users to issue and trade RECs.

What is Renewable Energy Certificate?

Renewable Energy Certificates (RECs) are designed as a market-based instrument to provide an economic incentive for electricity generation from renewable energy sources.

Each REC represents proof that 1 MWh of renewable energy has been produced and embodies the environmental benefits that amount of renewable energy generated. REC registries electronically issue RECs based on renewable energy generators’ output.

A REC, and its associated attributes and benefits, can be sold together or separately from the underlying physical electricity associated with the renewable-energy generation. RECs are an effective and recognised way of reaching emission targets and improving sustainability.

How does it work?

Waves Enterprise is a Proof of Stake blockchain for highly regulated industries, to which enterprise blockchain adopters are switching because of it's powerful docker based smart contracts, mining efficiency and minimal fees, compared to Ethereum.

EasyChain is a low-code Platform, that allows it's users to create smart contracts without coding, using visual development tools and diagrams.

Together, this tech allowd us to build GreenTrust - a complete solution for issuing legally correct RECs in form of NFT tokens. Simple and easy way to ussue RECs is an important way of supporing Renewable Energy Producers.

GreenTrust connects all parties, involved in RECs lifecycle.

It operates using it's internal token (GRT) to buy/sell RECs. This token may further become a platform's governance tokens.

GreenTrust allows energy producers to connect their IoT devices to the system, automatically issuing RECs. Each REC is represented by an NFT token. RECs can be traded on build in marketplace.

Additional parties, such as regulators are required to make RECs legally binding, and they will be different in different jurisdictions.

Solution description

RECs and assosiated processes can be quite intimidating to beginners. Here is our explanation and demo of the product.

Watch our solution presentation: Screen Shot 2021-04-30 at 1 05 04 PM

And live demo: Screen Shot 2021-04-30 at 1 05 04 PM

Demo users

Feel free to play with our Demo using the following users:

  • Energy producer: pro_user2
  • Regulator (governance): ca_user2
  • Verifier: ver_user2
  • Buyer: user22
  • Password (for all users): userpass

Also, you can check out Blockchain Explorer using username and password [email protected]

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Tokenized renewable energy certificates on Waves Enterprise Blockchain

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