B4GOOD Prize
We are honoured to announce that PROSUME has been awarded the ‘Blockchains for Social Good Prize” from the European Commission!
Our open source and interoperable blockchain solution for sustainable and decentralised energy production and consumption has been selected among almost 200 applications coming from 43 countries worldwide.
The European Innovation Council (EIC) Prize has awarded €5 million to six winners selected in a call to identify scalable, deployable and high-impact blockchain solutions for societal challenges.
The winning solutions propose blockchain applications for fair trade and circular economy, increasing transparency in production processes and quality information, improving accountability and contributing to financial inclusion and renewable energy.
True decentralization
Due to the magnitude of the material infrastructure needed to run energy production and distribution, decentralisation alone in the energy sector does not guarantee that at the level of governance there will be a shift of power from big players to citizens: indeed, most blockchain projects in the energy market limit themselves to localised tokenization of energy led by monopolies.
Instead, PROSUME addresses the problem of social justice in the energy market by allowing the equal participation of prosumers to energy production and balancing.
The centrality of prosumers implies increasing the amount of renewables in circulation, reducing the monopoly of traditional energy players, optimising energy consumption and production, as well as rewarding citizens who produce and consume responsibly. In a word, a true decentralisation.
Key Outcomes
- company: PROSUME srl
- counterpart: European Commission
- type: Grant
- date: July, 2020