The choice for BlockChain is because it is a distributed database that has unique properties that are not available to conventional, centralized information systems. BlockChain offers immutability, transparency, and decentralization. Once the data is written into BlockChain it cannot be tampered with, and that data is accessible to involved parties and stored in a globally distributed network – making it resistant to cyber-attacks.
Block Chain technology is uniquely capable for establishing multi-party consensus, anchoring trust, and providing proofs. It should be used accordingly, and not primarily as a data store or messaging platform.
Open-source software and decentralized system architectures are critical to unlocking value in the energy sector with digital technology.
Open-source and open architectures minimize transaction costs; avoid vendor lock-in, and support standardization and interoperability.
Simply “adding Block Chain” when attempting to solve a problem does little. Taking advantage of Block Chain’s full potential requires reimagining business and market processes—including the roles and responsibilities of different actors—while embracing new decentralized architectures
With these lessons in mind, we have narrowed our focus to support what we believe to be the two most-valuable use cases of BlockChain technology in the energy sector: enhancing energy sector traceability and unlocking grid flexibility from customer-owned resources Our plan is to now to integrate BlockChain to our Energy Subscription as Pay-As-You-Go, into our Products and Platforms, to grant our users easy access to renewable energy at lower cost thereby increasing our REFA Token Value