Posted on March 21, 2018 by staff

Network Rail plan energy efficiency blockchain trials


Energi Mine, the blockchain business that rewards energy efficient behaviour, is collaborating with the Energy Managers Association (EMA) to deliver a proof of concept.

The EMA members are the energy managers of some of the largest companies and energy consumers in the country.

The organisation is trialling the Energi Mine platform within members’ organisations, which will see their employees rewarded for reducing their energy consumption.

“A company’s staff is one of the greatest untapped energy efficiency opportunities,” said Wendi Wheeler, chair of the Energy Managers Association and Energy & Carbon Strategy manager at Network Rail.

“Unlocking that potential to realise energy savings – and sustaining those savings – is often something that companies struggle to achieve.

“This is an interesting innovation in the employee engagement arena, and I’m keen to see how it can benefit EMA members – and indeed Network Rail – as trials are developed.”

The energy-saving incentives will take the form of an EnergiToken (ETK), a digital asset.

ETK rewards for reducing energy consumption

Through incentivising employees to reduce energy consumption, Energi Mine’s ETK tokens will be awarded and can be redeemed on the cryptocurrency exchanges.

The employees can then access their reward tokens via an app on a smartphone which can be used in several ways, such as redeeming against energy bills, to pay for electric vehicle recharging or exchange into cash.

“Reducing energy in businesses relies heavily on engaging employees, using the ETK reward scheme will incentivise people to save energy at work,” said EMA CEO Lord Redesdale.

The announcement comes just weeks after a successful fundraising round for Energi Mine, which the EnergiToken sale completed in just 81 minutes and raise a total of $15 million.

Energi Mine is revolutionising the global energy market through decentralisation and blockchain technology with the ultimate goal of reducing global energy demand and carbon emissions.

It provides financial incentives for businesses and consumers to save energy with a new rewards system based on blockchain technology.

EMA is the first publically announced trial for the employee incentive scheme.

This EnergiToken trial is the very beginning of the peer-to-peer platform roll out, with plans for global coverage, enabling energy and cost savings worldwide.

“With Energi Mine and by utilising EnergiTokens, we are rewarding energy saving behaviour,” said Energi Mine CEO Omar Rahim.

“Everyone knows it’s a good idea to save energy, but it’s difficult to change our habits

“With EnergiTokens we offer incentives for a range of energy-efficient behaviour and we offer these incentives in collaboration with employers.

“This is the first step towards our larger goal of peer-to-peer energy trading.”