D. Energy “Makes Clean Energy the New Currency for the Digital World”: CEO

According to the decentralized trading platform D.Energy, blockchain has an important role to play in the transition to renewable energy.

Speaking about Rug Radio’s FOMO Hour, the company’s CEO Shafi Rafi said the company’s guiding principle is to “make clean energy the new currency for the digital world.”

D. Energy Layer-1 Blockchain The ecosystem is equipped with a unique “energy proof” consensus mechanism where validators purchase tokenized renewable energy certificates (RECs) and each represents the amount of energy generated from renewable energy sources.

It’s D.Energy not a native token, NFT Rafi said through Recs redemption, blockchain automatically offsets energy consumption by a 1000:1 ratio, ensuring it supports a renewable generation.

This “inverted mining” process offsets the energy consumption of the network, Rafi said. “Every time the network uses one megawatt of energy, it offsets 1,000 megawatts of energy,” he explained, adding that the resulting “renewable system” “is not just net zero, but actually adding clean energy to the environment.”

The goal, he says, is to create a borderless, peer-to-peer “energy-collateralized economy” where wallets can trade and wager renewable energy using network watt tokens, and where wallets can trade and wager renewable energy on near future token generation events and public sales.

Rafi explained that the current “old-fashioned, outdated” energy market has geographical limitations. “In the US, only US companies buy renewable energy certificates. In the UK, only UK companies buy locally produced companies.” In D.Energy’s borderless ecosystem, “someone who was sitting in Dubai can buy a US certificate,” he said, adding, “they can bet on it or buy it for speculation.”

Unlike many blockchain projects, D.Energy has a clear use case in mind from the start, Rafi said. “Most blockchain layer-1, the metric they build code and compare themselves is TPS or scalability. Once you deploy and launch, you start looking for use cases and utilities.”

In contrast, D.Energy has “natively built-in use cases” that allow wallets to natively create peer-to-peer transactions for renewable energy, Rafi said. However, the project encourages not only to make the blockchain itself sustainable, but also to encourage other industries by “providing convenient one-click power for the general public and businesses.”

Other blockchains can access D. energy offset systems, but Rafi assumes an ecosystem of distributed applications (DAPPs) built on top of D. energy chains themselves, creating non-extraction systems that benefit the environment.

“The whole concept is to create a foundational layer of renewable energy in blockchain,” he said, adding, “The way across the world, everything is electrified. Therefore, the basis of value in the digital world should be clean energy.”