ETAINPOWER-A Blockchain-based Energy Ecosystem Powered by AI

Oktober 26, 2018

Most of today’s energy resources are conventional fossil fuels such as coal, oil and natural gas. They produce pollution, damage the environment and pose threats to human health. Developing renewable energy and reducing reliance on fossil fuels have thus become an international consensus and countries throughout the world make developing renewable energy an important part of their energy strategies.

EtainPower, a project that has obtained DeepBrain Chain’s strategic investment, is committed to revolutionizing the traditionally centralized electricity industry and connecting renewable energy producers, investors and consumers as well as grid operators to achieve smart trading, circulation and management of energy assets to promote the development of renewable energy projects all over the world. With DeepBrain Chain’s comprehensive AI support, it will radically change the status quo of the renewable energy market and breathe new life into it.

Problems in the Renewable Energy Industry

Despite the push from national governments for the development of renewable energy, companies find it quite hard to get financing, due to the need for huge amounts of initial capital investment and the extended cost recovery period. They have to rely on government subsidies and policy bank loans. At a time when governments cut down on subsidies to renewable energy projects, the ability to raise capital becomes the make or break factor for projects. On the other hand, investors with the intention and capability to invest usually can not find a reliable channel to invest.

Infrastructure is another problem. Energy infrastructure is in urgent need of upgrading, if it is to absorb the possible impact a large amount of renewable energy connecting to the grid might have on grids’ stability. What’s more, some islands, despite being naturally endowed with rich renewable energy resources, can only use fossil fuels due to constraints such as geological and economic factors. The emergence of urban complexes poses new challenges to the management and operations of grids.

EtainPower – an AI-powered Energy Ecosystem Solution

EtainPower (token: EPR) is a smart energy trading platform built on top of the decentralized AI computing platform, DeepBrain Chain (token:DBC). It uses blockchain and smart contracts to tokenize energy, thus changing the way sustainable energy projects get financing and its trading and circulating model. DeepBrain Chain is the world’s first and only AI computing platform driven by blockchain. It mainly solves two of AI industry’s pain points: computing power cost and data privacy.

EtainPower leverages blockchain technology to help renewable energy producers to address financing difficulty and provides a platform enabling investors around the world to know about and invest in quality projects. Via smart grid technology, it crenates added value for grid operators, electricity producers and users. EtainPower tokenizes energy and issues two types of tokens. EPR is the platform token whose investors can enjoy project proceeds and PPS is the project token that can be used for investing in projects and consumption on the platform. EPR can be used to buy PPS and holders of EPR enjoys various interests in addition to sharing in the proceeds.

DeepBrain Chain’s decentralized AI computing platform will provide underlying infrastructure support for EtainPower to build a powerful AI energy ecosystem and EtainPower will use cutting-edge technologies such as AI to optimize management of renewable energy connected to the grid and improve the intelligence level of power grids to better integrate renewable energy with conventional power grids and improve the flexibility of power grids. EtainPower is committed to revolutionizing the traditionally centralized electricity industry and connecting renewable energy producers, investors and consumers as well as grid operators to achieve smart trading, circulation and management of energy assets to promote the development of renewable energy projects all over the world.

EtainPower’s Vision

EtainPower is backed by a team of engineers with dozens of years of experience in renewable energy and power grids, and most of the team members are graduates from Standford, University of Southern California and CMU. Its developers used to work for Uber, Facebook and Saleforce, among other top-notch tech companies in Silicon Valley. They have extensive experience in blockchain and AI.

The vision of EtainPower is to build a renewable energy based smart power grid that is operational based on decentralization, transparency, and zero-emission principles. EtainPower will not only include renewable energy microgrid and distributed generation power projects in ecosystem, but also establish partnership with power utility companies. EtainPower will integrate technologies such as artificial intelligence, blockchain, IoT, and machine learning etc. to improve existing power grid facilities, optimize operations of the power grid, as well as simplify the power transaction.

Use of Funds

Proceeds raised from token sale will be used for the R&D of EtainPower platform, and the business development. The funds will be used as follows:

According to EtainPowers development plan, the funds will be used as follows:

Main terms of the EtainPower token sale:

45% of the proceeds will be used for the EtainPower platform and ecosystem development.
10% of the proceeds will be used for legal compliance with the energy sector requirements.
15% of the proceeds will be used to acquire other energy blockchain technologies and assets.
15% of the proceeds will be used for advertisement, branding and business development.
5% of the proceeds will be used for daily operating expenses such as office expenses, travel expenses, transportation expenses, conference fees, and office staffing costs.