The move sees vendor management introduced to the platform, allowing consumers to interact with approved vendors of sustainable goods, as well as giving them power to manage client transactions and to distribute ETK.
Energi Mine is using blockchain technology to decentralise the energy market in an effort to reduce global energy demand and therefore also carbon emissions.
With their rewards system, both business and consumers are financially incentivised to save energy. This is achieved with Energi Mine’s utility token, EnergiToken (ETK), which consumers earn for engaging in energy saving behaviour, such as taking public transport, purchasing energy efficient appliances, or for behaviour as simple as turning computer monitors off at the end of the day. In turn, these tokens can be redeemed against consumers’ energy bills, used to pay for electric car charging, or even be exchanged for fiat currency.
Energi Mine aims to have a positive impact on the planet, offering a unique and innovative way of approaching the problem of excessive energy usage. By tokenising energy saving behaviour with real financial rewards, Energi Mine is able to incentivise consumers to make energy saving choices through subtle positive reinforcement.
This next phase of the ETK rewards app has been expanded with phase two giving Energi Mine approved vendors the power to purchase ETK and manage client transactions through an integrated web dashboard – as well as giving consumers the power to interact with approved vendors who sell energy efficient products.
The latest phase launched last week in English, with Korean and Japanese versions yesterday, followed by Chinese this Monday (13th August).
Energi Mine’s CEO – Omar Rahim – told Coin Rivet he was extremely happy with the company’s progress so far.
“This latest update will expand the possibilities open to those using the Energi Mine rewards platform,” he said.
“Whether it is through allowing consumers and vendors to interact more freely or in giving vendors more control over transactions – Energi Mine is taking another important step towards creating a fully functioning ecosystem to incentivise energy efficient behaviour.
“The blockchain space is heavily populated by projects that have very little actual bearing on the real world – let alone have a measurably positive impact.
“Energi Mine sets itself apart from this in that it is providing a solution to a very real and dangerous problem that affects everyone.”
Energi Mine is currently building partnerships with major companies and organisations enabling them to create an ecosystem of similarly minded partners to drive ETK into mass adoption. Recently they have announced a partnership with the UK’s Network Rail, in conjunction with the Energy Managers Association, which is currently trialling Energi Mine’s blockchain based rewards platform.
Based in Blackburn, UK, Energi Mine currently manages more than $140 million worth of energy on behalf of approximately 1,000 customers.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.