‘Immutable Proof’ service and sustainable energy blockchain will use IoT devices, data aggregators and Open Oracles to drive renewable energy use
Evident Proof, the Ethereum blockchain and token based service that turns data into immutable proof of evidence chains, has partnered with Swytch – the blockchain platform for sustainable and renewable energy – to create a proprietary blockchain that will be used to capture energy production from generation equipment.
The blockchain will be connected to IoT devices and data aggregators, so that data can be fed into an Open Oracle to calculate token allocation and convert data into tokens.
“The Evident Proof service can be used across markets to turn data into immutable proof and, through this partnership with Swytch, we will demonstrate how capturing energy production data can help drive sustainable and renewable energy use. This is another example of how Evident Proof is building the technology behind blockchain businesses that will help them to disrupt the market they operate in,” said Adrian Clarke, CEO of Evident Proof.
Swytch’s blockchain-based platform aims to help accelerate the transition to sustainable energy production that has failed to take hold to date. By verifying and rewarding the production of sustainable and renewable energy, Swytch will serve as a standardised incentive for producers and allow consumers to validate their own sustainable actions.
“We’re delighted to be working with Evident Proof and this partnership will enable us to perform the verification and reward processes for sustainable and renewable energy production that are so crucial for mass adoption,” said John Clippinger, co-founder and head of token innovation at Swytch. “Not only will this incentivize producers to generate renewable energy, but it gives consumers across the globe the verifiable information necessary to participate confidently in the emerging renewable energy market.”
Evident Proof turns data into immutable proof chains, transforming the way data is stored and providing indelible evidence that can be used to meet compliance, provenance and other data verification requirements.
Data owners who store digital records on the Evident Proof platform can request immutable proof certificates that provide evidence of compliance or provenance, and which can be used for dispute resolution, as court-ready evidence, or as an anti-counterfeiting measure.
The ‘proof chain’ that Evident Proof has developed is a public blockchain combined with a private blockchain. The public blockchain ensures immutability, while the private chain is used to increase speed and as a secondary level of verification.
As part of Evident Proof’s ongoing development, the company will be holding a token sale in the second quarter of 2018.