Industry value chain applications
A project by:
Company intro and use case overview
The main objective of the Efichain Project is to investigate the feasibility of applying novel distributed registration/blockchain technologies in real market applications for individuals and companies oriented to positive influence on the behaviour of citizens since promoting their energy efficiency. To achieve this, an integrated collaborative system based on Blockchain technologies for the efficient use of energy in a Smart City ecosystem is being developed. In addition, the system will reverse in a social project that provides energy to disadvantaged groups
Outcome of using blockchain
EFICHAIN has, on one hand, a gamification system responsible for promoting energy saving good practices. It consists of a comparative analysis of actual consumption associated with a system of challenges and distribution of points for achievements based on monthly savings achieved. On the other hand, it integrates a system of "tokenization", responsible for the valorisation, management and conversion of points into awards thanks to the use of smart contracts, "tokens" and distributed applications that enable blockchain technologies. Challenge fulfilment rewards provide points that are transformed into "Efitokens", a free-swap virtual currency between users. These users can be classified into several groups: private, producers/marketers, city companies, social projects and APPs. Depending on the challenges, Magtel creates and distributes "tokens" among them, to perform the actions represented in the previous schema.