The Energy Web Foundation Partners With Swytch Who Become An Affiliate To Accelerate Blockchain Technology For Clean Energy HSV GTS Follow Apr 25 · 8 min read

Who are Swytch ?

Swytch, a non-profit foundation based in Zug, Switzerland gives organizations a complete and accurate view of their energy generation use and associated carbon offset information.

Swytch is the combination and evolution of digital technology as applied to renewable energy, energy consumption and financial technology delivered in the form of secure, permissioned and exchangeable digital assets.

The Swytch platform enables token-based incentives, open-source data aggregation and has unique blockchain protocols to secure and verify energy production data.

The decentralized platform certifies and rewards sustainability efforts with Swytch tokens, efforts which are evidenced by smart meter data, IoT devices, EVs and storage systems used to reduce CO2 emissions.

Swytch tokens will be created in an energy-efficient permissioned blockchain environment that avoids proof of work.

Swytch helps reduce the global carbon footprint by tracking, verifying and rewarding the impact of sustainability actions on CO2 emissions.

At the core of the Swytch solution is an open-source Oracle that will allow for multiple models and algorithms to determine how much carbon is being displaced and therefor how many Swytch tokens to award.

Swytch tokens serve multiple purposes:

1. To incentivize renewable energy production.

2. To compile, track and share data associated with renewable energy production.

Anyone who owns Swytch tokens has access to that data. Swytch tokens may also be used in a similar manner to voluntary Renewable Energy Certificates (RECs).

The opportunity to work with other thought leaders in the space will allow Swytch to continuously stay ahead of the curve on both the blockchain and energy fronts.

Founding partner and Managing Director of Swytch ‘Evan Caron’ said the time is now to make a real impact in the global renewable energy space.

In addition to the Energy Web Foundation partnership Swytch has also secured partnerships with other well-known players in the energy and blockchain space including Bancor, Atonomi (an IoT device security company) and E2M (a European renewable energy aggregator).

Swytch & The Energy Web Foundation

As an open-source clean energy blockchain platform we look forward to working with EWF and its members to engage in the development and refinement of the Swytch platform.

As an EWF Affiliate Swytch joins a community of the world’s biggest utilities, power customers and blockchain developers in collaborating on the creation of a decentralized electricity grid.

As the Swytch platform evolves, EWF’s open-source blockchain and tools specifically tailored to the electricity sector’s needs will be invaluable for global integration.

Prove Sustainability, One Electron At & Time

Swytch’s digital assets represent the purest form of proof and immutability for the real world impact of energy generation.

Becoming part of the Swytch network allows companies to stand behind their claims of carbon reductions, sustainability and renewable energy to prevent green washing and provide a source of truth while allowing everyone to read from the same sheet of paper.

Swytch Philosophy

We believe that electricity data as a commodity is vastly under utilized as we enter into a distributed, decentralized and energy efficient world.

Energy information today is siloed, linear, unvalidated and non-standardized creating inefficiencies and slow progress to hitting carbon emission goals.

As the world continues to heat and technology continues to advance the way this information is managed has largely remain unchanged.

Swytch is looking to change the ways of old by disrupting the entire framework of how we manage our energy information.

We have built the energy accounting system for the future, available today.

Our Philosophy At Work

Swytch is the combination and evolution of digital technology applied to the energy sector and developed for the fintech sector- delivered in the form of secure, permissioned and exchangeable digital assets.

We created a platform that turns energy production and consumption information into data rich, digital assets, freely claimed by the owner, shared with others for proof of sustainability or exchanged for value with 3rd parties.

These digital assets are enriched with historically disparate data sources creating a uniquely digital view of the true value of every energy transaction all through a continuous stream of information anchored to the blockchain.

The Path Forward

Whether Fortune 500 financial institutions with multi-million dollar sustainability programs, conglomerates with a mandate to deliver certifiably green products to their consumers or local producers looking to capitalize on locally-mandated demand response programs, the mission of Swytch is to deliver energy data in ways never before possible.

In doing so our ecosystem creates a new standard for sustainability as a service and transforms historical areas of cost into future centres of profit.

Product Overview (A new standard for energy data)

Digital Climate Assets

Swytch creates a trio of digital climate assets in the form of digital energy records ( kWh’s or mWh’s), Renewable Energy Credits and CO2e measure of carbon offset or liability.

In the same way electrons are created, traded and consumed so to is the case with our digital climate assets.

Gone are the days of waiting for energy meters to be read, data processed by various intermediaries, RECs processed and CO2e measured after the fact.

Swytch’s streaming data brings all 3 digital assets into existence at the time of production/consumption and deposits the digital assets in our customers digital wallets where they are immediately available for the myriad use cases of our customers.

Cloud, Architecture, Security & Encryption

Provenance, security and seamless accessibility of Swytch’s delivered data are the hallmarks and principles by which we abide.

Leveraging everything from IoT protocols and end-to-end encryption, Swytch data is secure from receipt to delivery.

Once on-platform our customers data is theirs to claim, share or exchange all with the knowledge and confidence that each record is immutably true and forever linked to its original day, time and time of day origin.

Distributed Ledger Technology

Veracity is a function of trust in the process, confidence that the state of data has never changed and the ability to continuously prove such is the case.

With Swytch, the history and sanctity of every data record can be traced to its origin (specifically to location, day and time of occurrence) using either Swytch auditing technology or routine audit procedures.

With distributed ledger technology we bring real-world solutions to old world problems.

Advanced Metering & Telemetry

Swych seamlessy and non-instrusively connects to edge level metering devices resulting in a continuous stream of processed, secured, enriched and delivered digital energy data.

We take your static metering data and put in motion allowing companies to increasingly capture and comply with new regulation, internal goals, enhanced visibility and new insights opening up entire new business solutions.

When enterprises are deploying millions into investments in leading edge distributed renewable generation, relying on decades-old information gathering and transaction processing systems simply won’t suffice any longer.

How it works

Swytch as a complete product can be thought of in two parts, a data pipeline of micro services that ingests energy readings and produces data assets and a web application designed to explore various stages of that pipeline.

These two parts are connected via a REST API that can be exposed to customers allowing them to build their own applications on top of the Swytch architecture.

Connect

Swytch creates a non-invasive connection to your device and listens for energy readings. None of your current business processes need to change and once the first device is connected, onboarding more in the future is effortless.

Demand meters

Fuel cells

Solar Panels

Wind turbines

BMS

Supply meters

Stream

Once connected, Swytch receives energy readings as frequently as your device emits and bundles them together each hour. Every reading is digitally signed creating a secure audit trail for future validation.

Polling workers

Enrich

As energy readings are streaming into the system from devices, Swytch also streams various data points from third party providers to add additional richness to the resulting data assets.

These metadata points include things like weather data, pricing data, grid load and grid emission factor.

New data sources are added to the service regularly further increasing the richness of the data asset.

Secure

Using distributed ledger technology Swytch digitally signs each reading and transaction and hashes those signatures together to create a digital audit trail.

This audit trail can be checked at any time and verifies the provenance of any data in the Swytch system.

Deliver

A customers data is available via conventional REST API as well as via a digital wallet as frequently as energy is read and CO2e offset/liability calculated (continuously) and as frequently as RECs are accumulated in mWh bundles.

Core

Team & Advisors

Disclaimer

Please note that the company Swytch seems to have changed its name and possibly had a rebrand to swytchX, you will see some information spelt Swytch and some spelt swytchX when click on links with also what seems to be a different colour scheme for the company.