As the world is grappling with the problem of ever-growing energy demands, governments are struggling to find solutions to the problem of increasing carbon footprints and out-of-control pollution. Yet rather than experimenting with new and innovative solutions, it appears that governments around the world have been content to opt for more punitive measures.

Punishment versus reward

When confronted with this issue, the usual approach is to punish consumers and to discourage waste through taxation and levies, or to regulate systems through a central controlling agency that enforces rules in an attempt — often futile — to reduce waste. While this approach may, when effective, successfully dissuade wasteful behaviour to some extent, it does not encourage positive behaviour.

EnergiToken (ETK) seeks to change this.

By rewarding energy consumers who conserve energy through their choices, EnergiToken takes advantage of the profit-motive to change behaviour in a positive way. Instead of controlling energy consumption and punishing wasteful behaviour, EnergiToken creates a free market, decentralised method of altering behaviour through economic incentives.

How exactly does this work?

Decentralising energy trading

Since the completion of the EnergiToken ICO in early 2018, the team at Energi Mine has been working at building the ETK rewards platform and adding partnerships around the world, keeping pace with the project’s roadmap. With this unique program, ETK are issued to consumers and businesses as a reward for reducing energy consumption; tokens which have monetary value and are tradeable on the free market, as well as between partner businesses, institutions, and energy consumers. This element of the ETK rewards platform is already functional and is currently working as a token reward that is redeemable with a number of partners in the energy business. The ETK rewards program is in constant development, adding partners and improving functionality, with plans set for the ETK rewards platform to be fully implemented by the end of 2018.

In the future, consumers who generate energy will be able to sell their surplus energy directly to other consumers who would purchase said energy with the ETK token, rather than purchasing through a third-party energy provider. Thus in effect, this peer-to-peer framework will decentralise the trading of energy and will incentivise both conservation and renewable energy production at the consumer level.

What’s more, because the token has financial value and can be sold on the free market, or instead used toward the purchase of renewable energy equipment such as solar panels and batteries from Energi Mine partners, it creates a ‘profit’ motivation for consumers to conserve energy and to use renewable energy sources. So rather than punishing consumers or attempting to teach “good behaviour”, people are naturally enticed to save energy due to the financial reward. It’s a wholly different and unique approach to the problem of excessive energy consumption.

Disrupting the global energy market

EnergiToken will disrupt the global energy market, flipping the status quo on its head. The current model is complacent due to a lack of competition and monolithic energy corporations seeking to maximize profit. They are intrinsically motivated to sell as much energy as possible, rather than conserve it. EnergiToken will instead harness the profit-motive to change wasteful behaviour, resulting in less pollution. Instead of an expensive bureaucratic system enforcing punitive taxes and levies, the free market and decentralised trade will transform the world’s energy markets.

This is a project with excellent credentials, supported by a fantastic cast of qualified leaders. Omar Rahim passionately leads Energi Mine as a CEO who has experienced years of success in the energy industry, handling billion dollar portfolios. As COO, Hannah Drake has contributed her expertise to the daily operations of the EnergiToken project, having gained it from 10 years of experience working in energy markets. Energi Mine is also working closely with public figures of significant influence. Lord Redesdale, a prominent member of the House of Lords and the CEO of the Energy Managers Association (EMA), acts as an advisor for the Energi Mine team.

It may sound cliché, but this really is JUST the beginning for EnergiToken.

Not only will the token be rewarded for wise power consumption and renewable energy production in homes and businesses, it will be used to reward all kinds of energy-efficient behaviour. Urban agencies can reward low-carbon transport commuters with ETK to reduce automotive congestion and pollution. Consumers can also be rewarded with ETK simply by purchasing energy-efficient appliances. The possibilities are simply endless!

So come and join the EnergiToken movement where you can help change how the world consumes and conserves power whilst being rewarded for your efforts.

For more information about EnergiToken and its energy-saving reward scheme, please visit www.energitoken.com, follow on Twitter at @EnergiMine or join the EnergiToken Telegram group.