Blockchain importance recognized by EU

Blockchain technology has improved by leaps and bounds in the past 10 years, ever since its inception as the underlying technology used in Bitcoin. Its vast potential has proven invaluable to the digital world ever since it was conceptualized by the still unknown person or group, named ‘Satoshi Nakamoto’ — a mysterious figure that has never revealed his/her/their identity, nationality, or had any public appearances; despite being one of the most widely recognizable names in the online world.

Regarded by some as the most important technology since the Internet; constant innovation is being streamed into blockchain technology. Entrepreneurs have made great efforts to further advance blockchain’s level of maturity and now it is on the precipice of eclipsing even long-established and prominent technologies.

The latest development in the consolidation of its public perception, however, has come from the European Commission. Blockchain was deemed important enough that the majority of European states have signed a unified European Blockchain Partnership, early this April. The partnership represents a synergy medium between the 22 original signing member states, enabling the exchange of expertise and knowledge regarding technical fields and an agreement to cooperate further towards integrating cross-border blockchain applications, within the European Digital Single Market — all in the service of improving both the public and private sectors alike.

Romania signs multiple European initiatives

On the 29th of May 2018, Romania’s Minister of Research and Innovation, Nicolae Burnete, signed the joint declaration on which the partnership is based, thus enabling Romania to directly share its innovative contributions with the rest of Europe.

Apart from becoming a member of the blockchain partnership, Romania has also signed the Declaration of Cooperation on Artificial Intelligence and joined the Innovation Radar — both being initiatives launched by the European Commission.

Restart Energy has always supported local initiatives and we take pride in our homeland’s success — this is therefore a great moment, as the nation that has nurtured RED, fully accepts blockchain in all of its myriad applications. As a blockchain-based energy supplier, this can only lead to further positive opportunities for RED, given the coverage and visibility of such a pan-European treaty.

Romania will be able to provide a substantial improvement in the artificial intelligence field due to its superior IT sector, which was responsible for a hefty 6% of the country’s 170 billion EUR GDP last year. By comparison, this accounts for no less than 10 billion EUR, reaching the same amount of funds generated by agriculture, with a workforce outnumbered 10 to 1.

The already impressive Romanian IT sector is further backed by the imposing magnitude of GDP growth in 2017, considering it was able to outpace China’s, whose economy is among the strongest in the world. Romania’s 4G network is also quite robust, being 35th globally, however, it’s broadband internet outshines nearly all others, ranking 5th place worldwide (source).

This strength can be leveraged to deliver a wealth of opportunities, especially in the field of AI, in order to collectively engage in research, development, and deployment through the Artificial Intelligence Cooperation initiative.

A wide-ranging EU-initiative and internet-accessible service, Innovation Radar is sustained by data which offers easy access to innovations supported by EU funding and offers an advantage to any person who aspires to bring innovation to the world.

Companies could also benefit from this novel implementation by having access to a vast database containing a wealth of information which could aid them in finding potential business partners or even hire personnel who could subsequently prove to be the missing link from their company’s future success.

A total of 19 countries have signed the Innovation Radar Declaration, stating their allegiance to promote groundbreaking merit for our future.

Blockchain technology rejoices in a timeframe of prosperity and growth, even though its true potential has yet to be unlocked. Regarding the ongoing development of blockchain, there are many facets of the technology that have not been fully realized yet — the possibilities for implementation are virtually limitless and highly versatile.

The concept of a European Blockchain Partnership and its associated initiatives is a most welcomed one and long overdue, considering the disruptive potential shown in the past few years. As such, we are possibly witnessing the birth of what may be the foundation of tomorrow’s technological age — and Restart Energy will be there when it happens.

About Restart Energy

Restart Energy Democracy (RED) is a blockchain-powered platform, backed by Restart Energy — a European energy provider with 20 million USD in revenues. The company was built with a vision to democratize the energy sector and quash the dominance of legacy monopolies in the energy world. The company’s credentials include a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month (5,000 new customers in the first two months of 2018), and its impressive growth: 1700% from 2015 until today.

Restart Energy is developing the world’s first peer-to-peer, fully decentralized energy transfer platform allowing users to send and receive energy worldwide, 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 Tokens.

The RED-Franchise is the first power retail franchise to simplify and allow any company or entrepreneur to operate their own power utility enterprise, enabling them to start selling energy in more than 35 deregulated energy markets globally.

MWAT tokens are crypto-tokens that enable the buying and selling of up to 1 MWh of electricity per month on the RED-Platform Software and will facilitate the development of affordable clean energy, through free-market practices. Upon completion of registration on the platform, an initial loyalty bonus of 0.11 kWh is applied. Producers send out monthly loyalty bonuses through the RED Loyalty System, totaling 1–5% of traded on-grid energy in exchange for access to the RED Platform.

Importantly, it should be noted that potential franchise partners will need to own (this is not a form of payment to us) a certain number of MWAT tokens, in order to qualify for our various franchise tiers — the secret to our award-winning growth as a business!

For more information, please visit our website, our Telegram, and read the Restart Energy whitepaper. Join our announcement channel for updates regarding Restart Energy Democracy.