SAN FRANCISCO--(BUSINESS WIRE)--Swytch announced today that it is partnering with top green tech and blockchain advisors to help bring its solution to market. Fragmentation, regulatory uncertainty, and minimal innovation have plagued government-run incentive programs for renewable energy producers. Swytch, through its renewable energy incentive platform built on blockchain, seeks to finally get the world to adopt renewables at scale.
The newest advisors partnering with Swytch include: Distributed Network Advisors (DNA), an experienced team of business analysts, investors, and blockchain developers who help entrepreneurs launch token ecosystems; Galia Benartzi, tech entrepreneur and co-founder of Bancor; and Steve Jurvetson, an early VC investor in Tesla and SolarCity. All are committed to introducing Swytch as the fundamental technology needed to drive exponential change for the renewable energy market.
“We are beyond excited to partner with Swytch to prove that blockchain technology will change the world for the better,” said Marc Weinstein, Venture Advisor at DNA. “We expect Swytch to create improved programs for renewable energy incentives and lead us towards a carbon-neutral future.”
“One of the most exciting things about Bancor’s mission to empower the long tail of tokens is the opportunity to support great teams and projects utilizing powerful blockchain technologies to solve real world problems, such as the challenges in scaling renewable energy,” said Galia Benartzi, tech entrepreneur and co-founder of Bancor.
“The future is increasingly unpredictable, with some notable exceptions and the end of fossil fuels is an inevitability, best not delayed. Despite our best efforts, today <10% of the world’s energy is sourced from renewables including solar, wind, and hydro,” said Steve Jurvetson, VC investor. “Swytch.io has a world-class team and unique approach to solving this problem. They have built a distributed global incentive network, based on the blockchain, that no government can own, but all will benefit from. Swytch’s global carbon credit exchange will help humanity forge a future that is survivable and sustainable.”
Steve Jurvetson, Galia Benartzi, and DNA join a distinguished group of advisors for Swytch that includes many notable academics and technology experts. Additional members of the advisory board include:
- Charlie Firestone – Aspen Institute
- Brad Hardin – CTO, Black & Veatch
- Thomas Hardjono – Technical Director, MIT Trust::Data Consortium
- Peter Hirshberg – Cofounder & Chairman, Maker City
- Marcia Kadanoff – Cofounder & CEO, Maker City
- Kent Larson – Director, MIT Media Lab City Science/CityScope Project
- Curt Lefebvre – CEO, nDimensional
- Mickey McManus – Senior Advisor, Boston Consulting Group, Autodesk Fellow
- Tony Seba – Stanford University, Solar disruption and Innovation Advisor
Swytch is a new approach to tackling pollution and climate change built upon blockchain technology and a unique minting approach based on the carbon offset value of energy produced. Swytch will also leverage its Proof-of-Production protocol to capture production data that is secure, transparent, and verifiable. The main goal of the project is for Swytch to be adopted by existing assets and to incentivize accelerated adoption of new renewable power sources. Swytch will work with a wide variety of renewable assets including wind, solar, hydro, and geo-thermal. Furthermore, Swytch will include commercial and residential systems across both centralized and decentralized grid infrastructure.
“Swytch, together with both producers and consumers of renewable energy, has the collective power to enact real, positive changes for our planet,” said Evan Caron, Swytch Co-Founder and Managing Director. “The experience, commitment and passion of our trusted advisors will enable Swytch to tackle one of the most pressing issues facing our world and accelerate meaningful change in the energy revolution.”
Swytch is currently in the private pre-sale stage and will launch its Token Generation Event during early Q2 2018. Additional details will be shared at a future date.
Swytch is a blockchain solution for accelerating a sustainable and equitable energy future. The Swytch platform includes token-based incentives, open-source data aggregation, and unique blockchain protocols to secure and verify energy production data.
Swytch fills the gaps in today’s marketplace for verified renewable production and data sharing. By utilizing an ERC20 compliant utility token, Swytch will incentivize investments in sustainable assets. In addition, the data aggregation and protocol layers will also revolutionize the way information is collected and shared in the renewable energy market. Applications in infrastructure include grid-scale, residential, and storage systems across all sources of renewable energy (wind, solar, hydro, etc.).
From large-scale industrial power infrastructure to small residential installations, Swytch Tokens can be generated through the production of renewable energy. Swytch and its partners are building out the technologies and community necessary for ensuring data and tokens can be freely exchanged within the network. The Swytch platform was created by the Token Commons Foundation, a non-profit foundation based in Zug, Switzerland.