Energi Mine Launches Blockchain-Based Platform to Reward Energy Conservation with Cryptocurrency

UK company managing over $140 million in energy assets tackles steep energy consumption crisis; Lord Rupert Redesdale joins advisory board

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Energi Mine, a global energy solutions company, today announced the launch of its Blockchain-based platform, designed to incentivize energy conservation with digital currency and decentralize the $2 trillion global energy market. A new digital token, ETK, will be at the core of Energi Mine’s energy efficiency reward system.

Energi Mine also confirmed the appointment of Lord Rupert Redesdale to Energi Mine’s advisory board, further bolstering the company’s bench of energy industry leaders. Lord Redesdale is a member of the House of Lords and CEO of the Energy Manager’s Association, Carbon Management Association, and Low Energy Company. He will provide Energi Mine his sharp business acumen and deep knowledge in energy efficiency and energy management.

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The current electricity market approach encourages energy companies to sell as much energy as possible, at the highest price possible. It’s a broken and even dangerous approach in a time when the perils of climate change are increasingly evident. Recognizing this paradox, Energi Mine will instead encourage consumer and organizations to reduce energy consumption, by issuing ETK tokens to reward energy efficient behavior, such as taking public transportation or buying energy-efficient appliances.

ETK tokens will have a market value. Thus, token holders may redeem the ETK tokens on the Energi Mine platform to pay for energy bills, electric vehicle recharging or exchange for fiat currency. For example, local city transit authorities, such as Transport for London, would encourage commuters to use public transportation instead of gas-guzzling alternatives by rewarding them with ETK tokens. Once earned, commuters can either cash in their ETK or trade the token directly with the transit authorities to pay for their trip.  

Leading the Energi Mine team is Omar Rahim, sporting successful exits for two energy trading companies prior to founding Energi Mine and possessing over 12 years of experience in energy trading for some of the largest energy companies in the world, including Engie and Vattenfall.

“The energy sector needs a bold, new solution, and the Energi Mine Blockchain-platform is it,” said Omar Rahim, CEO of Energi Mine. “Existing energy incentive programs have been met with limited success, because they do not reward good energy practices or increase competition among energy suppliers to drive down prices. Energi Mine does both.”

In most electric power markets today, energy produced by a consumer generator that exceeds what  that consumer needs is sold back to the power supplier at a rate determined by the power supplier. However, with Energi Mine’s decentralized platform, excess energy can instead be sold to a different consumer at transparent market rates.

 

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST
2015), a partner at ICO services collective Token.Agency
($750m+ and 90+ ICOs and STOs), director of education company
Blockchain Partners
(Oracle Partner) and ICO event organiser
at leading industry event CryptoFinancing (Europe's first ICO event now
branded Tokenomicon)
– Vancouver native Richard Kastelein is an award-winning publisher,
innovation executive and entrepreneur. He sits on the advisory boards
of some two dozen Blockchain startups and has written over 1500
articles on Blockchain technology and startups at Blockchain News and
has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.  Irish Tech News put him in the top
10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of
Blockchain
at China's first Blockchain University in Nanchang
at the Jiangxi Ahead Institute of Software and Technology. In 2018 he
was invited to and attended University of Oxford's Saïd Business School
for Business Automation 4.0 programme. Chevalier (Knight) - Ordre des
Arts et des Technologies at Crypto Chain University and an Advisory
Board Member of International Decentralized Association Of
Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member
at U.S. Blockchain Association. Over a half a decade experience judging
and rewarding some 1000+ innovation projects as an EU expert for the
European Commission's SME Instrument programme as a startup assessor
and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain
technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels,
Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki,
London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San
Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel
Aviv,  Utrecht, Venice,  Visakhapatnam, Zwolle and
Zurich.  His network is global and extensive.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has
ranged from the Canadian Native Press (Arctic) to the Caribbean
& Europe. He's written occasionally for Harvard Business
Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work
and ideas have been translated into Dutch, Greek, Polish, German and
French. A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world. In his 20s, he sailed around the
world on small yachts and wrote a series of travel articles called,
"The Hitchhiker's Guide to the Seas' travelling by hitching rides on
yachts (1989) in major travel and yachting publications. He currently
lives in Groningen, Netherlands where he's raising three teenage
daughters with his wife and sailing partner, Wieke Beenen.

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