The world has already started pricing the full cost of carbon/climate change into every day economic activities, especially in the energy sector. Government programs meant to facilitate this process are structurally deficient and do not encompass the vast majority of carbon, people, etc. Blockchain and tokenization can solve many of the issues with current systems and empower everyone (governments, cities, corporations, NGO’s and individuals) to take a more active role in accelerating the adoption of renewable supply and sustainability programs.
Only about 10-15% of carbon emissions are covered under some form of program today, and each sponsoring state, country, or region has their own approach. Swytch is a fungible asset that holds real value, is inversely correlated to the decline of the fossil-fuel economy, and provides a real incentive to accelerate adoption of renewable technologies and sustainable behavior. Unifying a fragmented carbon market in this way just makes sense.
Existing programs are known to have high administrative costs and still suffer from double counting and fraud. Swytch uses blockchain and AI/machine learning to automate reporting and verification, which eliminates costs and results in more trusted data. Also, with geolocated, timestamped attributions available in an immutable blockchain you can more easily create, track and audit green programs that fit your organization’s needs.
Swytch’s network generates an ever growing dataset of energy assets and production across the globe. This data can be used to augment proprietary data sets and analytics tools and to provide a useful benchmark for gauging performance and efficiency. Whether aiming to maximize financial returns or environmental impact, the Swytch platform and data commons will be useful for asset prospecting and performance monitoring.
Creating a renewable incentive program is complex on a local scale, and integrating it into the global picture can be even more difficult. Swytch offers a platform that can be tailored to the needs of individual communities while also connecting them to the broader network. As the Swytch network grows, consumers and businesses will be able to earn Swytch tokens by participating in additional sustainability actions, such as lower energy usage or driving an electric vehicle.