I-REC trading platform

This project, a next step on a way of carbon neutrality and ability to move forward in reducing carbon quotes

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Inspiration

The business needs a technology solution with a high level of trust and data transparency to create a platform for accounting, selling and redeeming EACs (Energy Attribute Certificates). This is confirmed by the development of a technological solution based on EW Origin, and the launch of pilot projects to work with Guarantees of Origin of electricity and I-REC (for example DTEK, Foton, etc).

What it does

System allow register company that generate electricity ⚡ from renewable sources. The company can register stations and create I-REC based on generation (for now, I-REC is a NFT NEP-171). Project could work with IoT station and take generation readings in automatic mode with help of service Fiware Context broker and particularly "Fiware Spark service" - it's our own DLT adapter. Existing certificates could be sold with a help of exchange 💱 service works like an order book 📙, or directly.

How we built it

We create a few services, front - end, back - end and smart contracts, main logic depends on a smart contracts and work with a native Near wallet. All functionalities work with native Near token, and all payment operations are based on it.

Challenges we ran into

Climate Neutral Product, and EACs trading platform - product that helps become climate neutral. First step to big companies in a way to sustainable development is a low their carbon footprint, first is to invest in a green label solution, and then - use them in their own business.

Accomplishments that we're proud of

We are proud that main ideas 💡 is working ⚒ great and very fast, and our hypothesis were right that Near could work with renewable energy certificates and resolve the problem of accounting Guarantee of Origin of electricity ⚡ what have limitation in one certificate - 1 MW of energy ⛮.

What we learned

We immersed in the Near ecosystem, find out about new technology for us, and got our hypothesis were right. Unbelievable result.

What's next for EACs trading platform

Contribution to new multitoken standards allowing to implement the model of dividing the token into its component parts, following the example of the ERC 1155 standards and the ERC 1888 extension for the possibility of claiming I-REC and Guarantees of Origin to a manufacture. This will be useful for the business needs where manufacture could show documented - that his product is made from renewable energy ⛮ source. And next big step is to add to a platform - decentralized identities that could allow us to fully automate the process with smart 🧠 electricity station and creation of I-REC and GO certificates based on an automated disclosure of energy produce. In the future this project could be expanded on other industries, like energy sector and value chain systems, this is a new global step in development of a platform with value chain.

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