What is Energy Web Token?

Energy Web (EW) launched in early 2017. They were co-founded by globally respected energy think-and-do tank Rocky Mountain Institute (RMI) and noted blockchain developer Grid Singularity (GSy), along with a cohort of 10 founding Affiliates. RMI and GSy—who today both contribute members to our board of directors (i.e., Foundation Council)—saw blockchain’s promise in the energy sector. EW was born to make that promise a reality.

During the first months of EW, their testnet leveraged public Ethereum’s Kovan network, but by November 2017, they had launched Tobalaba, their EW-built dedicated testnet. It was a time of intense energy-sector interest in blockchain technology. Between Q2 2017 and Q1 2018, the industry invested some $322 million in energy blockchain startups. By early February, their own community had grown to 37 Affiliates, and by summer 2018, they had named their founding CEO.

Then, as the energy sector began exploring blockchain technology as a serious opportunity rather than novel curiosity or possible disruptor, the pace accelerated. By March 2019, they had incredibly passed the 100-Affiliate milestone. Meanwhile, Affiliates and other partners have wasted no time adopting the Energy Web, launching proofs of concept, MVPs, and other solutions on Volta, their second-generation testnet, including in cooperation with PJM-EIS, SP Group, Chile’s CNE, Iberdrola, Acciona, Elia, Stedin, and others.

In June 2019, they launched the Energy Web Chain, the world's first public, open-source, enterprise-grade blockchain tailored to the energy sector. TEO by Engie became the first dApp to migrate onto the live production chain, while companies such as Thailand's PTT began building new commercial solutions on it.

Then in December 2019, they announced a significant update to their technology roadmap: the Energy Web Decentralized Operating System (EW-DOS). It is an open-source stack of decentralized software and standards—including the Energy Web Chain and various software development toolkits (SDKs). One month later in January 2020, they announced a major first implementation of EW-DOS with Austrian Power Grid.

As electricity systems around the world increasingly digitalize, they are proud to be one of the leading partners helping energy market participants harness decentralized technology in support of a low-carbon, customer-centric energy future.