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Previous attempts to tokenize clean energy are not fully market-based, so none of these projects have gone global. They are mostly localized projects that are only viable with foundation or government support. In addition, they have not recognized the connection between the spot electricity market and the global financial market. These are mostly cryptocurrency projects with no obvious connection to the physical energy market.
RISKS & CHALLENGES
RISKS & CHALLENGES
The limiting factors for the project are the cybersecurity of the blockchain and the validation of the data entering the blockchain. However, there are already several successful solutions on the market and we are already consulting with the developers of some of them.
Alignment with the nomenclature of regulatory agencies and national bureaucracies will take some time, but will not be a major limiting factor in connecting new entrants to the network worldwide:
Existing VPPs in many countries have already gone through all the necessary stages of standardization of energy sales and have found common ground with regulators, which will facilitate the process of token legitimization.
The project has a serious set of "ironclad" arguments in favor of not only allowing the token to be accepted in various jurisdictions but also for network participants to automatically receive all existing benefits for green energy, as Energy Coin contributes to the goal of the NET ZERO 50 program.
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