Greeneum offers a decentralized and Value Chain System
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Blockchain technology and cryptocurrency are changing the usual ways of performing transactions and other processes. Most businesses adopting the use of blockchain and crypto-assets are shifting towards a decentralized system of operation and limiting the use of a centralized system. The benefits and features of integrating the decentralized applications of blockchain technology into business operations and processes extend across different industries and markets, especially the financial system. Increased level of security and confidentiality, traceability, smart contracts, and high processing speed are among the features offered by blockchain. One of the most recent markets incorporating the technology is the energy industry.
The leading projects and companies within the energy market are recognizing the advantages of establishing their businesses on blockchain technology. Looking at the features that are offered by creating a decentralized system for energy projects, innovators and business owners are firmly proposing that a transformational shift of the energy market from a centralized model to a decentralized approach will facilitate growth within the industry. The birth of this urgent need to deliver a change to a decentralized approach of operation stems from the demand for sustainable energy sources and the development of small-distributed manufacturers of renewable energy, which will increase production, transmission, and distribution of energy.
The adoption and integration of blockchain will alter the current operations of the energy market and introduce new solutions to existing challenges that impede the growth of the industry. Among the prevailing issues faced by most energy companies include insufficient real-time information and inadequate holistic technology. There are currently several irregularities plaguing the energy sector, which are resulting in different inadequacies. One notable insufficiency caused is the lack of integrating the current distribution and production of energy needs into the market, and this leads to huge losses in varied parts of the energy flow structure. A typical example of a company that experienced loss due to this factor is General Electric (GE), which incurred about 666 million USD in 2019. The management team identified that the cause of the losses was due to certain execution challenges. Greeneum network is working to utilize the decentralized system of blockchain technology to improve the energy system and reduce these losses. The Greeneum team is delivering real-time renewable energy forecasts and understandings of the energy industry, creating an enabling environment for investors to improve their energy usage.
Offering a Value Chain Modification
The division of the energy system exists in different entities, which is peculiar from one another. Every entity within the energy industry operates within its space to achieve its specific interests using minute distributed data and application to the whole system. Presently, the stakeholders – energy manufacturers, local billing firms, utility distributors, meter producing and reading services – often deliberate on the transaction and utilization of the customers’ energy. After the billing charged by the companies, there are still other background administrative bodies and regulatory entities that oversee the payment transactions. Greeneum system improves the flow of the value chain from the energy producers to the consumers and governs all the processes within the flow. This brings an advanced and seamless energy delivery and billing system.
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