A Reliable Blockchain Platform for Renewable Energy Sector

TerraGreen Purpose

The general thought behind TerraGreen is to use blockchain technology and cryptocurrency to make the earth (Terra) a greener place. The focus of TerraGreen is to produce renewable energy that is generated from renewable materials and waste productions instead of using fossil fuels like oil, coal and natural gas. In the end, TerraGreen’s purpose is to create a truly sustainable and clean community which will allow consumers to directly participate in the renewable energy industry positively.

TerraGreen intends to break down the walls between energy producers, investors, consumers, and utilities so that people get involved and influence their energy is produced.

TerraGreen Motivation.

Environmental stress to earth has induced an urgent quest for innovation in energy structure on a global scale. As evidenced by the 148 nations who ratified the Paris Climate Accord, there is profound interest in fostering a cleaner future as these nations agreed to fulfil its responsibility by capping GHG emissions as soon as possible.

The seriousness of global warming is due to a disconnection between the energy producers and energy users. TerraGreen is all about bringing reform in the current energy supply structure and transition to a new energy system with the help of blockchain technology, that can fundamentally reduce GHG emissions and mitigate waste pollution.

TerraGreen is an ecosystem, where renewable energies are tokenized and can be used by the community in exchange for fiat currency or as a payment for energy consumed. But we are not stopping here, we want to use blockchain technology in a way that users can monitor how the energy is produced and what it is used for.

Renewable Energy Technology Collaborations.

TerraGreen has been in collaborations with companies inside and outside the energy sector to produce renewable energy technologies in more efficient, reliable and sustainable ways. Such collaborations have led to the development of new technologies namely biomass gasification system and biofuel hydrolyzer. The collaboration partners are

a. AVI Renewable Sdn Bhd

b. Augustina Tradelink Pvt. Ltd.

c. Hydrogreen Amplifier Pvt. Ltd.

By introducing the hydrolyzer onto the TerraGreen platform, we create a direct connection to the customer and a possibility for everyone to reduce fossil fuel consumption. Usage of the Hydrolyzer can be tracked and Reduction of fuel consumption can be transformed into green energy token, which is connected to the TerraGreen platform.

TerraGreen Stages.

TerraGreen will be developed in 4 stages. Starting with use cases in stage 1 and 2. TerraGreen is looking to revolutionize the energy generation and distribution system in the long run. But we are beginning with the use cases of real projects to create trust and start the development of the platform.

Stage One.

The first stage is made to create the first energy tokens and develop the TerraGreen platform. In the first stage and use case of TerraGreen, we are looking at the Energy Token creation for producers.

Stage Two through Four.

In the second stage, TerraGreen can set up partnerships with energy distributor companies, to accept specific energy tokens as a payment from the customers.

Stage 3 will combine stage 1 and 2 to connect the energy token price that consumer is buying with the token creation from the renewable energy power plants. This introduces the TerraGreen exchange on the platform.

In the last stage of TerraGreen, we are expanding the energy network to the transmission company. Energy payments will be done with the various tokens. Creation, transmission, and usage of energy can be tracked on the blockchain in real time.

Use Case for Stage One: 2.4MWe Biomass Gasification Power Plant in Terengganu, Malaysia by Ajil Biofuel Sdn Bhd

Malaysia Renewable Energy Act 2011

In Accordance with Renewable Energy Act 2011, The Malaysia government has introduced a Feed-In Tariff (FiT) mechanism to promote the growth of the renewable energy sector which implementation is administered, managed, monitored and reviewed by the Sustainable Energy Development Authority (SEDA) Malaysia.

2.4MWe Biomass Gasification Power Plant

The technology to be employed in the power plant is a well proven fluidized bed gasification system. The use case plant will be using feedstocks in the form of forest and agricultural wastes. It is designed to achieve an availability factor minimum of 85% throughout the entire 16 years of operation.

The plant converts treated biomass wastes into medium calorific product gas. Here the produced gas is combusted in a gas engine for the production of electricity. The plant is capable for the production of 2.4 MW of electricity.

Biomass Fuel Production Facility.

The biomass fuel production facility is designed to produce briquettes from forest and agriculture waste materials. The briquettes are used in the biomass gasification plant for the production of electricity.

Use-Case: Biofuel Hydrolyzer Application in India by Hydrogreen Amplifier Pvt. Ltd.

The state of Gujarat, In India, is one of the fastest growing metropolitan areas in the world. The number of registered motor vehicles in Gujarat was about 19 million for 2015. TerraGreen counters rising fuel demand and emission with the latest technology. For this reason, we are going to roll out the implementation of the Hydrolyzer first where it is needed most.

Use Case Stage 2 — Electricity Transaction Validation Services.

TerraGreen in partnership with electricity distribution companies in Cambodia, Malaysia, and Central Africa Republic (CAR), plans to implement electricity retail DApps for the following purposes:

- Validation of electricity consumption

- Validation of payments

- Improve efficiencies in the electricity value chain.

Blockchain Technology.

The native blockchain of TerraGreen will allow to the Deployment of different DApps on the system. Since it is a platform for green energy, we do not support the massive waste done by proof of work consensus. For this reason, we will implement the latest dedicated proof of stake consensus to make our blockchain safe and efficient.

With the applications being deployed on the blockchain, we can transmit, store and analyze energy data in real time. It will feature lightning fast, multilayer protocol, easy to use and unlimited side chains which makes the platform extravagant.

Tokenomics — Market, Growth, and Revenue.

The TerraGreen platform coin (TGN) is connected in every token transaction to a small percentage and therefore “running” the system. This connection is done by smart contracts which are implemented into the blockchain technology.

Each stage of TerraGreen has its own market and creates a new demand for the coin. Additionally, each stage will consist of multiple projects and markets where TerraGreen will be introduced.

In the first stage, the renewable energy projects are supported through the TerraGreen platform. The second stage introduces the consumers with energy tokens. In the third and fourth stage, final mass adoption will come later into the picture, pushing the TGN demand and value.

Token Distribution, Sales and Supply.

Use of fund

The total supply of TerraGreen token (TGN) is set at 270 million. Only about 50% will be unlocked at first after the ICO. 20% is reserved for rewards for the master nodes and the rest of TGN is locked investing contracts to be released in line with demand growth performance.

Conclusion

TerraGreen is about to bring a Revolutionary change with the use of blockchain technology in its platform. Its main aim is to remove the wall between consumers, producers, and investors and build a bridge between them.

TerraGreen is an ecosystem where renewable energies are tokenized and can be used by the community in exchange for fiat currency or as a payment for energy consumed. But we are not stopping here, we want to use blockchain technology in a way that users can monitor how the energy is produced and what it is used for.

TerraGreen will introduce Hydrolyzer to create a direct connection to the customer and a possibility for everyone to reduce fossil fuel consumption. Usage of the Hydrolyzer can be tracked and transformed into green energy token, which is connected to the TerraGreen platform.

TerraGreen will be developed in 4 stages. Starting with use cases in stage 1 and 2. TerraGreen is looking to revolutionize the energy generation and distribution system in the long run. But we are beginning with the use cases of real projects to create trust and start the development of the platform.

With the applications being deployed on the blockchain, we can transmit, store and analyze energy data in real time. It will feature lightning fast, multilayer protocol, easy to use and unlimited side chains which makes the platform extravagant.

The TerraGreen platform coin (TGN) is connected in every token transaction to a small percentage and therefore “running” the system. This connection is done by smart contracts which are implemented into the blockchain technology.

Each stage of TerraGreen has its own market and creates a new demand for the coin. Additionally, each stage will consist of multiple projects and markets where TerraGreen will be introduced.

A Reliable Blockchain Platform for Renewable Energy Sector was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.