Vectorium, the cryptoEnergy. With this slogan a
European team is revolutionizing the market
distribution of electricity through a combination of
blockchain, Artificial Intelligence and electrical infrastructure
of various types.
The challenge is to
to make electricity distribution digital
through a sort of parallel market that “bypasses” the current distributive mechanisms
of traditional electricity networks. This is achieved by
leveraging using the same mechanisms of intermediary “value swap”
which led to the success and dissemination of Bitcoin
as an alternative to traditional payment systems.
“VECTORIUM will be for the electricity market
what Bitcoin has been for banks “
ENEA BENEDETTO (CEO)
The idea of the two
cofounders, the Italian
Enea Benedetto and the
Colombian Andres Palacio Restrepo,
is to carry the intrinsic value
of electricity from a point A to a
point B through the blockchain.
To do this, they created an extremely light blockchain,
Vectorium Flash, which allows the conversion of
kWh in coins first and subsequently reconverting coins back into
electricity (or into an equivalent amount of traditional currency or into
other crypto coins). In order to make the process
democratic, regardless of whether you’re trying to extract
coins with a single graphic card or with an apparatus of
fifty or more cards the opportunities will be
the same. Moreover, the process developed is
named “only mined community pools”.
Michele Sburlino, CTO and Project Manager
has confirmed: “This solution besides being
self-regulated, public and democratic, allows the
blockchain to manage the mining process
converting it directly to the kWh used for the
generation of the same coins. In this way we are actually transforming a
process, i.e. mining: initially perceived as energy-consuming process into a new phenomenon of
IT Eco sustainability”.
The project was presented at the Blockchain Expo of
Monaco in May 2019. The Miners now involved are
more than a hundred scattered across the five continents. The team
expects to exceed the first thousands by the
end of June 2019 and to “list” the coins on the first Exchange by July 2019.