Dr. Vlad Trifa; the former head of Swisscom Digital Lab and an internet of things (IoT) pioneer, has joined Restart Energy’s board of advisors. Restart Energy Democracy or RED; a leading energy provider in Romania, is building the world’s first market-ready, blockchain-based energy trading platform.
“I strongly believe in the vision to create a global and decentralized marketplace for energy, and have full trust in the team’s capacity to succeed with such an ambitious roadmap — their achievements to date speak for themselves,” Trifa said in a Restart press release.
An estimated 27,000 households and 3,000 businesses are using Restart’s MWAT Token to pay their electric and gas bills on the company’s peer-to-peer platform, the company’s whitepaper indicates. There are an estimated 40,000 payment locations and 300 franchises in Romania that use the MegaWatt or MWAT Token.
The value of each MWAT Token is designed to be equal to a specific amount of energy. The long-term goal at RED is to make a single MWAT Token valuable enough to power a house for a month. Restart calculates that goal can be achieved by significantly increasing the number people using the MWAT Token.
Internet of Things Pioneer Believes in Restart Energy Democracy
“After spending a decade in the Internet of Things market as an engineer and entrepreneur, I am convinced that the combination of IoT, Blockchain, A.I, and Big Data proposed by RED has the potential to entirely disrupt the existing old and inefficient energy market,” Trifa said.
Restart’s next goals are to launch an initial cryptocurrency offering (ICO) for the MWAT Token, set up its blockchain energy-trading platform and launch a balancing system for cross-border energy transactions. Restart’s management team thinks that Trifa’s IoT experience will be invaluable in creating the balancing system.
The ultimate goal at Restart Energy Democracy is eliminating middlemen from the middle market and allow full peer-to-peer (P2P) transactions. To that end, RED has created a blockchain solution designed to comply with existing laws and regulations.
Dr. Vlad Trifa is best known as a founder of and leader of Swisscom Digital Lab. He also co-founded and led the product and research and development departments at the IoT platform EVRYTHING. EVRYTHING’s solutions were used by many Fortune 100 companies.
Trifa has also served as a research associate at the Massachusetts Institute of Technology (MIT) and the University of California Los Angeles (UCLA) in the United States. He holds a PhD in Computer Science from ETH Zurich and an MSc in Computer Science from EPFL. Trifa coauthored the influential book Building the Internet of Things.
Trifa is currently the Chief Product Officer at Ambrosus, a Swiss company that plans to increase the safety and quality of food and medicine by applying blockchain and IoT technology. He lives and works in Lausanne, Switzerland.
About Restart Energy Democracy
RED (Restart Energy Democracy) is a blockchain-powered platform backed by Restart Group, a European energy provider with $20 million in revenues. The company was built with a view to democratize the energy sector and quash the dominance of legacy monopolies in the energy world.
The company’s credentials include 400% growth since 2016 and a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month. Restart Energy is developing the world’s first peer-to-peer, fully decentralized energy transfer platform based on its proprietary virtual balancing system that uses A.I, Big Data, and IoT technologies.
The RED ecosystem is comprised of the RED-Platform, RED-Franchise and RED-MWAT or Megawatt Tokens. RED’s MWAT is a cryptocurrency token designed for virtual storage of electricity and facilitation of the development of clean affordable energy.
Full details of RED’s initial cryptocurrency offering can be found here:
More information about Restart Energy Democracy can be found at its website:
The business plan is described in this whitepaper: