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Member of the European Parliament Joins Restart Energy

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Restart Energy, the fastest growing energy provider in the EU, is building an efficient and transparent ecosystem – Restart Energy Democracy (RED) to bridge the global divide between energy producers, prosumers and consumers using blockchain technology. To this end, experienced advisors are key. Certainly members of the European Parliament have such in spades, and being appointed directly by the people, have a high degree of legitimacy as well.

Cătălin Sorin Ivan has all of these virtues and is also a blockchain enthusiast to boot! We are very pleased to announce that Catalin will be joining our distinguished board of advisors.

Cătălin’s resume is an impressive one – having been active in local and national politics since 2003, and an MEP of the European Parliament since 2009. He is one of the youngest members to ever grace the halls of Brussels and he aims to spearhead blockchain and deregulation efforts in the heart of the EU. Before getting into politics, he studied and earned a Masters degree in International Business – a solid background for blockchain and deregulation advocacy.

During his first 5 years as an MEP, he was part of the Progressive Alliance of Socialists and Democrats. Since 2014, he has joined the Progressive Alliance of Socialists and Democrats in the European Parliament. He held the vice-chair of the delegation for relations with the countries of the Andean Community until 2014 and is now the vice-chair of the committee on Budgetary Control. He has been a member of the Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013, the Committee on Economic and Monetary Affairs, the Committee on Economic and Monetary Affairs, the Committee on Budgetary Control, and 10 other delegations and committees during his years in Brussels.

“[…] I am by trade an economist that believes in social responsibility, in the need for personal and national audits, in taking risks; innovation, antreprenorial spirit, willingness to work, but also care towards the environment and the active fight against poverty and social gaps are key in reaching these goals.”

Restart Energy is on the verge of its pre-sale (Monday, 15th of January), where it offers a 20% bonus of its MegaWatt (MWAT) tokens to contributors – this is part of its three sales drives (the private sale is still ongoing), culminating in a Token Generation Event (TGE), in support of the launch of its RED project, and its near-future expansion in over 35 countries.

RED is a unique ecosystem that uses blockchain solutions that work within existing legal frameworks, and is composed of the MWAT token, the RED-Platform and the RED-Franchise.

The MWAT token gives access to the RED-Platform – a revolutionary software designed to merge blockchain smart contracts, Bancor’s Smart Tokens™, and smart meter technology in order to cut out the middleman between energy producers, prosumers and consumers via a P2P framework where costs are reduced dramatically for all involved parties.

About Restart Energy

Restart Energy Democracy (RED) is a blockchain-powered platform, backed by Restart Energy – a European energy provider with 20 million USD in revenues. The company was built with a vision to democratize the energy sector and quash the dominance of legacy monopolies in the energy world. The company’s credentials include a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month, and it’s impressive growth: 400% in 2016 and 425% in 2017.

Restart Energy is developing the world’s first peer-to-peer, fully decentralized energy transfer platform allowing users to send and receive energy worldwide, based on its proprietary virtual balancing system, that uses A.I, Big Data, and IoT technologies. The RED ecosystem is comprised of the RED-Platform, RED-Franchise and RED-MWAT Tokens.

The RED-Franchise is the first power retail franchise to simplify and allow any company or entrepreneur to operate their own power utility enterprise, enabling them to start selling energy in more than 35 deregulated energy markets globally.

The RED MegaWatt (MWAT) Tokens are digital cryptographic utility tokens that give access to the RED Platform Software and to the RED Franchise. The RED Platform is a blockchain based decentralized energy trading platform that makes it possible for energy consumers and producers to Send and Receive Energy Worldwide. The tokenized energy traded on the RED Platform can be physically delivered at local rates in countries with deregulated energy markets where Restart Energy will be present directly or through a franchise. The RED Franchise is the first power retail franchise that make it simple and easy to start and operate your own power utility company. Importantly, it should be noted that potential franchise partners will need to own (this is not a form of payment to us) a certain number of RED MWAT tokens, in order to qualify for our various franchise tiers – the secret to our award-winning growth as a business!

Given this opportunity, we would like to remind potential contributors, that our private sale (40% bonus tokens, minimum purchases of 50,000 USD) is ongoing and will end on January 14th, 2018, followed soon after by our public pre-sale (20% bonus tokens, minimum purchases of 10,000 USD) that starts January 15th, 2018 and ends on February 12th, 2018, after which our Initial Coin Offering (15% bonus tokens, going down by 1% per day) launches on February 14th, 2018 and ends on March 14th, 2018.
For more information, please visit our website and read the Restart Energy whitepaper

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Typing Errors in Ethereum Transaction Addresses Caused Losses of Over 12,600 Ether

There is nothing worse than losing funds stored in your crypto wallet. It is pretty obvious that this situation has been a big problem for most users at some point in their lives. A new study shows that over 12,000 ether has been lost due to typing errors that sent money to non-existent addresses. Losing Ether due to Typos There are a lot of things that can go wrong when completing cryptocurrency transactions. For instance, one could enter a completely wrong address due to copying it incorrectly, a QR code could give an error when trying to send money, or one could simply type an address incorrectly. In the latter case, one’s money will be lost forever, as the transaction is often broadcast to an address that doesn’t even exist. Recovering such a transfer is pretty much impossible these days. Research by Alethio Analytics paints a very worrisome outlook in this regard. More specifically, the company claims a lot of ether has been lost due to sending money to nonexistent addresses. It is evident a lot of users have sent money to wrong addresses over the years, and it is possible that up to 12,622 ether has been lost because of typing errors. This is not a figure most people will feel comfortable with whatsoever. Although the exact amount of money lost is subject to interpretation, Alethio Analytics can make some sort of assumption in this regard. After thoroughly analyzing Ethereum’s external and contract accounts, it’s clear there have been quite a few wrong transactions up to network block 5 million. Although it is difficult to determine which addresses are perfectly fine and which are not, the team used an interesting technique to do so. Since no similar-looking Ethereum addresses can exist, they looked at Ethereum addresses which are almost identical. Assuming such addresses exist, the funds stored in one of two addresses were probably sent erroneously. It is not a foolproof technique by any means, but it is certainly one way to go about things. So far, the company’s research seems to indicate that over 2,600 erroneous addresses have been used as part of Ethereum transactions over the years. This means just over 12,622 ether are potentially lost forever, although this number is not exact. Considering that the value of ether has risen over the years, it is safe to say this money adds up to a nice chunk of change. Who this money belongs to exactly remains to be determined at this stage. The bigger question is whether or not more of these typos will occur in the future. Since there is no foolproof way to send cryptocurrency transactions in this day and age, we can only hope people become a lot more careful when it comes to moving funds. Otherwise, this may only be the tip of the iceberg in terms of money lost forever due to human error.

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