The rise in innovative startups tackling energy and resources area and the recent topics that have dominated industry events and publications in the last couple of years point to the trend of carbon footprint and reduced carbon emissions unfolding. Greeneum firmly believes that new applications will need to consider peer-to-peer interactions like many other industries and sectors already have, such as transportation and accommodation. These trends are positive indicators that efficient energy production, monitoring, consumption will become the de rigueur. Assaf Ben Or, CEO of Greeneum, feels this reinforces his company’s view that Greeneum has come on the scene at the right time, at the right inflection point between shifting consumer demands and the increased technological ability to meet them.
By visioning and working for a route to this new reality and supporting the industry with the hardware and software to embrace this change, Greeneum remains in sync with the forthcoming changes to the energy industry allowing stakeholders to adopt and invest in green technologies.
As a dedicated green energy network that incentivizes all of the participants in the renewable energy industry, the company sees the concept of Greeneum itself as being innovative. Its decentralized network allows energy producers, prosumers, consumers, investors, and affiliates to interact with each other seamlessly, whilst ensuring transparency, independence, and adherence to data security. The result is that Greeneum is positioned to be the No.1 predictor of fluctuations in energy demand and renewable energy impact.
The company’s ability to deliver this green energy network, according to Assaf is underpinned by a specific innovation in blockchain protocol. This unique protocol specifically addresses the digitization and management of renewable energy by optimizing readings and distributing profits between all the stakeholders in the network. Greeneum develops the Proof of Energy Transactions Protocol (PET) algorithm to validate and certify energy transactions in real-time. Through Green and Solar PETs which are connected to the renewable or solar assets, data is collected, calculated, and stored across software and devices to accurately assess the green energy produced, purchased, or sold to producers and consumers. PETs can be used by any producer or consumer through a plug and play mechanism that integrates with various hardware assets. Data is then recorded to certify and optimize energy transactions for trading across the supply chain as credits representing carbon emission reduction or use.
Assaf says, this unique mechanism encoded in the blockchain to allow peer-to-peer carbon credit interactions and the issuance of green certificates from green producers is a first for the industry. Greeneum plans to further extend globally by allowing the GREEN tokens which allow it to exchange values of energy and emissions between the peer-to-peer members.
The culmination of the company’s efforts to bring this innovative network to life is that Greeneum becomes the all-in-one platform to seamlessly and efficiently incentivize users to monitor their carbon footprint and reduce carbon emissions.
The company’s innovative green network has allowed, for the first time, all of the participants in the industry to interact with each other on one platform. Greeneum has used technology to address fragmentation and inefficiency in the industry and in doing so, it has incentivized real-world change at all participant levels. Consumers who want to engage in greater renewable efforts can now do so and be appropriately incentivized. Equally, producers who have ideas to generate renewable energy can seek out investors through Greeneum platform. The company also has plans to launch the Greeneum Green Fund that will also complement its work in this area.
The company is breaking down the highly centralized energy market and replacing it with trust and transparency. Greeneum firmly believes that the cost of green energy production and consumption can decrease and become more efficient when the participants can work in tandem across a shared network.
Greeneum started with an ideology and this brought forth the innovation, so in that respect, its innovation is a manifestation of the company, they are one and the same.
Greeneum is delighted that its hardware and software innovations have contributed to the renewable energy community. The company’s Solar PETs for instance have been extremely successful and highly sought after. It has also inspired Greeneum to go further and Assaf mentioned that it is now working on Wind PETs to calculate, collect, and store data about wind energy.
He views Greeneum’s innovation as he drives people to create more and do more whilst working globally to erase borders. The company is fortunate enough to be in touch with a number of global producers and brands in the market. Greeneum, moreover, looks forward to taking itself and its community to new heights in the second part of 2020 and beyond.
Paradoxically, the technology that has allowed the company to innovate also presents challenges. These challenges can be seen from a technological viewpoint and governmental viewpoint due to the changing regulations in the energy and financial sectors.
Assaf feels the laws relating to renewable energy tend to vary wildly across different governments, and unfortunately, tend to be outdated and highly complex. This presents a challenge in delivering a customized service across the Greeneum network to comply with local renewable energy laws.
Coupled with this challenge is the intense scrutiny on data security and data privacy. The company understood this to be a challenge at the beginning and built-in a mechanism to address concerns right from the outset. Greeneum applications only validate necessary data and the company can do it next to the site or on the cloud. For that, it uses comprehensive cybersecurity and encrypted data mining process that utilizes secure mechanisms to keep user data safe and private.
Greeneum is continually developing and updating both its hardware and software elements to keep up with the ever-changing standards in this area.
The company has been working since its existence with a few global partners such as startup accelerators and international brands, and many energy companies worldwide have joined Greeneum’s affiliate program and play an important part in the network. The affiliate program allows energy companies to find business opportunities around the network and partners with customers and other stakeholders. These partnerships are important not only to enlarge the scale of its outreach but also for the network decentralization and long-term governance.
The case studies Greeneum has established with a microgrid in Israel and one in Cyprus helped it to integrate and distribute green energy to the nearby farms, factories, and homes and enables it to optimize the solution for future partners from the global markets. In 2020, Greeneum, according to Assaf, will supercharge these partnerships and scale-up the company’s solutions for decentralized energy grids with the partners through its affiliate program.
A Thoughtful Innovator Contributing to Sustainable Tomorrow
Assaf Ben Or is the Founder and CEO of Greeneum, a green energy company that uses blockchain technology and machine learning to incentivize production and investment in renewable energy technologies & projects.
Greeneum is the result of a lifelong passion that started after his time in university when he was working in the startup and software world and was asking himself what innovation and research are needed to make solar energy more efficient and popular. Assaf participated in a Ph.D. research and was doing new high-efficiency Solar cell models for desert and sunny areas, but their funding was not sufficient to complete the research and to get full results as it was a quite challenging concept. During that time, he explored various subjects ranging from deep science research to data science and blockchain on how to support the scale of solar energy and bring it to its full potential. It was the start of a 15-year career of exploration into how Assaf could better understand and contribute to sustainability initiatives around the world. He honed his expertise in machine learning, AI, and scientific research at a range of global institutions and companies, including SAP and IBM, that allowed him to pair education with real-world impact.
Assaf started to get into the topic in the time around December 2015, after a few years of research, he founded with his brother an initiative called “solar change” with the intent to optimize and create more efficient solar energy using blockchain. They researched what was needed to scale this technology up properly and came up with different ideas. Assaf aimed to create a platform that went beyond trading to incentivize and encourage green energy production on a global scale. He made it his mission at Greeneum to bring together all the participants from across the value chain including producers, consumers, prosumers, and investors to create a network for sustainable green energy production and consumption.
In the last 2 years, the company has developed and verified a data infrastructure to mine data efficiently and connect solar energy in real-time for different sets of applications for the energy stakeholders. Assaf has a wonderful team of experts and contributors worldwide who work together daily to bring new ideas and innovations to the network and promote green energy.
Greeneum’s core objective is to bring renewable energy to every corner of the world, to decentralize energy systems, and in doing so provide freedom for producers and consumers to interact with each other for sustainable, common good.