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

CNBC’s Brian Kelly Explains the ‘Huge Difference’ Between Libra and Bitcoin

On Tuesday (June 18), the day that Facebook unveiled Libra, its new global cryptocurrency,  CNBC's Brian Kelly, who is also the founder and CEO of crypto hedge fund BKCM LLC, explained the "huge difference" between Libra, which he thinks of as digital fiat, and Bitcoin, which he thinks of as digital gold, and said that this was the reason that he does not consider Libra to be a real cryptocurrency.

In a segment titled "Facebook Goes Full Crypto" on CNBC's "Fast Money" show, the host, Melissa Lee, asked Kelly to explain why he does consider Facebook's Libra to be a real cryptocurrency (like Bitcoin or Litecoin).

Kelly started his "crypto class" with a super simple explanation of how Libra works from the point of view of a user:

  • You exchange some of your local fiat currency (say, dollars) for Libra tokens
  • You can then pay for goods/services using your Libra tokens
  • Whenever you want, you can convert some/all of your Libra tokens back to fiat currency

This all sounds fine, but Kelly says that one unspoken truth here is that as a user you need to trust the Libra Association to do everything behind-the-scenes correctly and honestly. In contrast, he says, a real cryptocurrency, such as Bitcoin, is trustless. As Satoshi Nakamoto explained in the Bitcoin white paper (which is titled: "Bitcoin: A Peer-to-Peer Electronic Cash System"), Bitcoin is "an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party."

According to Kelly, the main difference between Libra and Bitcoin is that Libra is trying to be essentially digital fiat (although he used the term "digital dollar" because he was addressing mainly a U.S. audience) and so it has all the "characteristics" of traditional fiat currencies, whereas Bitcoin is "digital gold" (and it is "probably a lot better than gold") and unlike Libra does not need a trusted third party, and to him "trustlessness" is what makes crypto "revolutionary". He said that this is why we can say that Libra "keeps the existing system" while Bitcoin "does away with it."

Kelly went on to say that Libra is not substantially different from systems such as PayPal or Venmo; it's the "next iteration of them". 

Meanwhile, David Marcus, who is the Co-Creator of the Libra currency and the Head of the Calibra project (a custodial wallet for Libra) at Facebook, thinks that it is wrong to compare Libra and Bitcoin since they do not belong to the same category:

One of the people who replied to Marcus' tweet was Dr. Saifedean Ammous, an economics professor and the author the book "The Bitcoin Standard":

 

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