A Closer Look Into the RED Platform Ecosystem — How It All Functions
By: Restart Energy
Tags: Green Energy, Franchise, Cryptocurrency, Blockchain, Blockchain Technology

An ecosystem is usually defined as a large community of living organisms existing in a particular area. The living and physical components are linked together through nutrient cycles and energy flows. The RED Platform functions in a similar way. Only with electricity. Here’s a closer look!

The RED Platform — The Vision is Being Fulfilled

The RED Platform is a blockchain-based, decentralized energy trading software. Users are able to participate in peer-to-peer energy trading and operate transactions between consumers and energy producers. In order to incentivize the usage of renewable energy sources, individuals that buy renewable energy are awarded Green Certificates that can be sold for profit, also highlighting them as green energy users, interested in sustainability.

The Ecosystem’s Components Work For Its Users

The system behind it all is made of three key components that work together to bring you the energy democracy we envisioned at the start: the MegaWatt Tokens (MWAT), the RED Platform, and the RED Franchise.

Our RED ecosystem allows users to send and receive energy worldwide using the MWAT. The tokenized energy traded on the RED Platform can be physically delivered at local rates in countries with deregulated markets where Restart Energy is directly present or through one of our franchises.

The RED MWAT tokens are ERC20 utility tokens that give access to the RED Platform (RED-P) software and to the RED Franchise (RED-F). All the activity is measured by a real-time WiFi meter meant to record all the incoming and outgoing energy consumption and producing at the system level.

Access to the platform is granted if the user already has MWAT in their RED account. Large-size producers, including the ones that operate green energy (solar, wind, hydro, biomass), prosumers and small producers are selling energy into the system and receiving MWAT from the buyers, also members of the platform. The KWh received by the consumers is then tokenized and added to the user’s corresponding electronic wallet, storing their digital revenue for later use.

The RED Franchise is the first power retail franchise that makes it simple and easy to start and operate your own power utility company. If someone offered you the possibility of buying a McDonald’s franchise, would you refuse? Let us tell you more about how you can easily become a micro-entrepreneur in the renewable energy sector, be a responsible prosumer while spending time with the ones you love. Introducing the RED Retail Energy Franchise!

The RED Platform’s plan has three pillars through which we aim to build a global energy power supply platform: using blockchain technology, developing a peer-to-peer network and empowering the built of independent franchises, making way to the rise of the prosumer, and a world in which we all strive towards a more sustainable energy production and consumption pattern. Waste-based consumption hasn’t always been the case.

The tactics that derive from this vision deal with being able to further develop the RED Platform and expand globally. Also, we need to change the energy retail business model, by introducing the concept of the prosumer, incentivizing local entrepreneurs to start and grow their own small businesses, transactioning energy and being able to be compensated for their operations. By building the platform on the blockchain infrastructure, we help any registered user buy or sell from any other registered user, as well as encouraging the built of renewable energy stations, those acting like power generators that fuel digital society we live in, from households to corporations and technology start-up initiatives.

We strategized the transformation to happen on the blockchain. We imagined an e-business model that has transparency and safety at its core, incentivizing each user to be an active part of the community by rewarding renewable energy consumption with green energy certificates, therefore bringing change closer with each individual.