Blockchain is marvelously incredible. The good news is, the technology is flexible with near-infinite applications. Beyond use in cryptocurrency and underpinning of secure, trustless, and censorship resistance transactions, distributed ledger technology finds massive applications in the energy sector.
Given the concerns around energy conservation and climate change, blockchain can be used to accelerate the de-carbonization of the global economy.
The world, despite incentives, easily source their energy from carbon-based fuels. This portends a problem and is against the concerted efforts taken by the world leaders to shield the environment from the current degradation.
One way of effectively fighting back against these challenges is by employing technology and blockchain is emerging at the fore.
Notably, projects are leveraging its transparency and transaction traceability to build one large, vibrant, and open ecosystem where energy transactions sourced from renewables can be tracked and value created without opaqueness.
In return for transparency and flexibility with blockchain-based solutions, users are incentivized to produce and end-users consume energy in such a way that there is a win-win for environmentalists, system builders, and consumers.
What is Rowan Energy?
Rowan Energy is building a community-supported blockchain system for smart management and trading of renewable energy. From the blockchain, Rowan Energy can transparently and openly sell renewable energy generated from within their ecosystem, tokenizing the interaction between renewable energy providers and consumers.
Most importantly, Rowan Energy wants to incentivize people to install rooftop solar energy systems and adopt other renewable systems. All of these contribute towards a greener future helping in conservation efforts.
Their blockchain is decentralized and energy-efficient. By moving away from the energy-intensive Proof-of-Work, to a Proof-of-Authority consensus algorithm, the Rowan Energy blockchain remains efficient and most importantly decentralized.
Within their community, customers—using Renewable Energy Certificates (REC), can confirm transactions and are rewarded for their contribution to the community. REC proof that energy supplied is from renewable sources.
For instance, companies that own large wind farms, for instance, can be assigned RECs. For every MW generated, they are given 1 REC. This tokenizes and fractionalizes the energy market meaning energy from the rooftop solar system from homes can be transparently stored in the blockchain.
Through the Rowan Hub installed at clients’ homes, transactions can be confirmed on the blockchain. Aforementioned, by validating transactions, users earn a daily reward.
Rowan Energy Product Offering
In the future, these rewards will be used to offset bills from their energy consumption. Also, Rowan Energy plans to activate real-time, peer-to-peer energy trading between their members who are also the generators.
Rowan Energy has three main products:
- REward: a flexible system when users can create their token reward. This way, people can join their system and also integrate the Rowan Energy software in their operations.
- REtrader: This is an automated peer-to-peer energy trading platform for renewable energy generators.
- REtrace: This is software for tracing the source of energy within the network’s ecosystem. It integrates custom-built smart meters to generate RECs; automatically allowing the system registers the energy source, amount, and when it was produced. Through the REC system, users are automatically paid for every kWh they produce.
David Duckworth is the CEO and Founder. He is an experienced Senior SME with a strong background in networks and firewalls. Previous experiences include stints at Aviva, Bourne Leisure Limited, and Deutsche Bank.
Halam Rose is the non-Executive Director. He is experienced and visionary in software, wireless, and engineering, most recently in IoT and renewable energy. Previous experience includes working as a Technical Founder for Arkessa for 12 years.
Team members include Sarah Atkins, Martin Hostancy, and Simon Ludlam.
Rowan Energy has strong links with renewable energy-focused companies in the United Kingdom. Partly explaining this are their team members who are domiciled in the country.
Some of them include Ensek, Cambridge Clean Tech, Passive Systems, Quest GLT, DDOS-Guard, Crypto Village Accelerator, Coin Market Cap, ICO Bench, LAToken, and Probit.
Rowan Energy (RWN) Tokenomics
The RWN is the coins priming the Rowan Energy blockchain. It is used for rewarding energy generators and can be openly traded. The RWN coin is not designed as a cryptocurrency rather, it is a reward for energy generators in the wider Rowan Energy ecosystem.
The coin can be moved to the Rowan Vault, a feature meant to protect fiat investments. Here, RWN is held, immune from unpredictable market rates, with a fixed predictable interest. Holders who add funds to the Rowan Vault must first indicate the fiat value and interest rate will be at a fixed interest based on fiat value, not the prevailing RWN market rates. Holders generate a daily return of 0.15 percent, compounded until cash out.
Additionally, there is a Rowan Energy staking product meant to increase RWN holdings over time. Through to the end of 2020, it will attract a daily interest of 0.1 percent available through the site’s web portal and their mobile applications.
The RWN Pre-ICO started on June 22, 2020, and ended on June 30, 2020. Each token was sold for $0.36
The RWN IEO started on Jul 1, 2020, and ended on Oct 31, 2020, from the LAToken Launchpad. Each token was sold for $0.45.
There were 11 million RWN coins for investors representing 24 percent of the total supply. The hard cap was set at $4.5 million.
Accepted currencies were in BTC, ETH, and fiat.
KYC was required and investors from across the globe participated.
RWN is currently trading at $0.0065 from a 24-hour trading volume of $20,559 according to Coingecko. It is down 92 percent from its all-time high of $0.070.
At spot rates, an investor’s ROI stands at X0.01 in USD terms.
RWN is actively traded at Probit where it is paired against the USDT and ETH.
- With more adoption, the token will be listed in more exchanges. After the Latoken IEO, the token is now listed at Probit after sharply rising 10X.
- Rowan Energy now has agreements in place to onboard 1,000 houses for our solar rewards scheme. Every home adds $7 worth of buy pressure on the exchange per day.
- Over 10,000 million solar panels are expected to be installed in the United Kingdom by the end of 2020. Rowan Energy is hoping to tap on this growth. Green energy capacity is forecasted to grow to 15,674 MW by 2023
- As an incentive, energy generators will be paid £0.25 per KWh for the first 100 homeowners in the United Kingdom. By 2024, the project plans to onboard over 30k customers.
- Rowan Energy is aggressive in their marketing, even advertising in the CoinMarketCap. Besides, the team regularly updates the community. Their CEO often holds AMA sessions.
- Their mobile applications are live.
- Rowan Energy has onboarded a United Kingdom-based organization planning to run a zero-carbon project. They have offered to give their members RECs.
- The project is in talks with three venture capitalists and angel investors to take them through the pilot phase before they roll out the project nationally.
- Rowan Energy is solving a real-world problem and has so far received support for their innovative products. Specifically, Rowan Energy is at first, fostering a sense of community, and will eventually build a base for owners to earn passive income for their energy generation.
- The Rowan Vault and their staking service protect market fluctuation and increase RWN holdings, respectively. Through to the end of 2020, users can decent daily returns from 0.10 percent and 0.15 percent. The minimum investment to participate in the Rowan Vault is $100.
- Rowan Energy has top-tier partners in the United Kingdom, recently partnering with Limtz. They now create a bridge between crypto and traditional currency enabling a seamless experience. Together they have launched the Rowan Energy Debit Card.
- The network is also decentralized and secure. In August, five more masternodes were added and hosted at four different cloud platforms. With distribution, there is security and robustness.