During the Transform.Hackathon from October 31 to November 2 in Utrecht, the 2Tokens foundation developed a technology that makes it possible to exchange sustainably produced energy more easily between users and generators. During the hackathon, the 2Tokens team came up with the most promising solution of the ‘Value’ challenge. This solution is now being developed under the title ‘Power of the Many’ for Ameland and for the Amelander Energy Cooperative AEC.
The 2Tokens solution enables citizens to (1) acquire ownership of solar panels located elsewhere, (2) use the produced power at home and (3) exchange the produced power with other users. Token technology is used to make energy digitally tradable.
“Tokenization is ideally suited to respond to the challenges of the energy transition,” says Michel Chatelin, vice-chairman of the Supervisory Board of the AEC and partner at law firm Eversheds Sutherland. “The long-cherished wish to make self-delivery on a cost-plus basis possible for consumers and companies can now be fulfilled.”
Innovation in the energy sector is more relevant than ever, says Chatelin. “The scarcity of fossil fuels and geopolitical tensions result in unprecedentedly high energy prices. More and more households are getting into financial trouble.”
The Transform.Hackathon took place from October 31 to November 2. Policymakers, hackers, designers, artists, builders, pioneers and storytellers came together for 48 hours to develop new ideas for the energy system of the future. The most promising outcomes of the hackathon are now being further developed at an accelerated pace and linked to the right partners.
Transform.Hackathon was initiated by the National Regional Energy Strategy Program, the Ministry of Economic Affairs & Climate and Unify.Energy.
About 2Tokens
The 2Tokens foundation is a public project that aims to inform and inspire everyone who wants to use token technology. 2Tokens is a public organization supported by technology companies, policy makers, financial advisors, banks and legal experts. The project is sponsored by the European Union and arose from a collaboration between Blocklab (Port of Rotterdam), YES!Delft (Delft University of Technology) and LIFT-OFF (Open data economy), with support from Erasmus University Rotterdam, Techleap, the national government and a coalition of large and small players in the industry. The ambition of 2Tokens is to create awareness in society, stimulate relevant discussions and bring together expertise, in order to reduce the barriers to tokenization and realize the social benefits.