Energi Mine Launches Phase Two of Its EnergiTokens Rewards Platform

  • UK-based blockchain energy company Energi Mine has today launched phase two of its EnergiTokens rewards platform
  • The platform provides financial incentives for energy-saving behaviour in the form of cryptocurrency.

UK-based blockchain energy company Energi Mine has today launched phase two of its EnergiTokens rewards platform, providing a financial incentive for energy-saving behaviour in the form of cryptocurrency.

Following the successful launch of the platform in May of this year, this second phase introduces a management dashboard for approved vendors, allowing them to manage clients and distribute tokens. Consumers using these vendors will be given the power to interact with them directly as they continue to earn ETK and trade it in for rewards.

Currently, users of the EnergiToken rewards platform can use their ETK to pay their energy bills, charge electric vehicles, or exchange it for fiat currency. Actions that earn ETK include taking public transport, reducing energy waste in the workplace, and purchasing energy-efficient appliances.

It launches in English today, with Japanese and Korean language versions launching on 6th August, and Traditional and Simplified Chinese versions following soon after on the 13th.

Cultivating a culture of energy efficiency is seen as key to reducing a number of environmental issues, such as pollution. The Energi Mine release comes as three Chinese cities appeared in the latest list of the world’s ten most polluted cities, including its capital city Beijing. In a speech at the Chinese Academy of Sciences, President Xi Jinping praised blockchain technology as a potential solution to environmental issues within the country.

Meanwhile, Energi Mine is continuing to establish partnerships with major organisations. Earlier this year, it partnered with Manchester-based FuseX to launch an e-card debit card. This will allow customers more freedom in how they spend their ETK, allowing them to effectively spend it anywhere.

More recently, Energi Mine announced a relationship with the Energy Managers Association to conduct a three month trial of the ETK rewards platform with Network Rail, the UK’s railway infrastructure operator. The initiative, which rewards Network Rail employees for saving energy in the workplace, is part of Energi Mine’s strategy to disrupt the $2 trillion global electricity market and ensure mass adoption of ETK.

Omar Rahim, CEO of Energi Mine said:

We are extremely happy with the progress to date. This latest update will expand the possibilities open to those using the Energi Mine rewards platform. Whether it is through allowing consumers and vendors to interact more freely or in giving vendors more control over transactions – Energi Mine is taking another important step towards creating a fully functioning ecosystem to incentivise energy efficient behaviour.

Omar Rahim

Zuckerberg Says Libra Can Boost Facebook's Ad Revenue, China Sees It as a Much Bigger Deal

Facebook CEO Mark Zuckerberg has, during a shareholder meeting, explained how the Libra cryptocurrency project will help the social media giant make money. China, on the other hand, published a book addressing the challenges Libra poses, arguing it could become the future of world currency.

In a transcript posted by Thomson Reuters, we can read Zuckerberg replied to a question asked by a shareholder on how Facebook will be making money off of the Libra cryptocurrency project. Zuckerberg responded by going into Libra’s potential impact on e-commerce on Facebook, and its potential impact on advertising revenue.

According to the social media giant’s CEO, Facebook does not charge a set price for ads and instead works with a bidding system, where every business trying to advertise will bid to compete for ad space. The system, Zuckerberg said, allows them to get the “lowest possible price.”

He added that combining ads with an effective payment tool such as Libra can benefit businesses further as it could make commerce more efficient:

If we can make commerce be more effective for businesses if when they run an ad, somebody who clicks on that ad is now going to be more likely to buy something because they actually have a form of payment that works that’s on file.

Advertising on Facebook, as such, becomes more worthwhile for businesses, which could in turn see them bid higher on ads and increase overall ad prices. This would effectively boost Facebook’s 0s advertising revenue.

Zuckerberg also reiterated other advantages of Libra, pointing out the payments infrastructure “hasn’t been updated in a very long time.” China, which has plans to launch its own digital currency called DCEP, sees Libra as more than a way for Facebook to make money.

Libra Could Hit China’s Efforts to Increase Yuan Influence

In a book published by the Central Party School of China to educate government officials on digital currency and propose policy measures to deal with emerging challenges like the Libra project, experts argue the latter is an excellent example of a public-private partnership and has the potential to become the future of world currency.

This would mean, according to the book titled “Discussing Digital Currency with Leading Officials,” that Libra could get in the way of the Chinese government’s attempt to increase the influence of the yuan.

Hongzhang Wang, former chairman of the China Construction Bank and one of the authors on the book’s preface, said in a recent article:

China originally relied on mobile payment to get ahead, but now Libra has the potential to change the game again.

Wang added that this would allow companies in the U.S. to build a digital currency system that could “threaten or even surpass” Alipay and WeChat Pay using blockchain technology.

Featured image via Unsplash.