Introduction to REC
In the whole history of our vast world, there's been various technological advances that really improve the quality of life of all the people as well as the planet itself. There's two uprising technologies that by themselves really revolutionize their area of expertise by being incredible useful, innovative and a with a massive potential to grow even further.
The first of those technologies is solar energy. Using the resources that our planet gives us is not only better for the environment, but is also more efficient and nowadays it is becoming the preferred energy method in many countries. China is the country that leads this solar revolution, because it already monopolizes half of the new solar plants that are installed on our planet, according to this report of the Environment Program of the UN. But, closely, they are followed by three other nations: Australia, Sweden and Mexico, whose investment in this field has recently doubled and continues to increase as time goes on. Just on 2017, the world has invested more money in solar energy than in nuclear power plants, gas and coal plants, according to a United Nations report. This revolution is real, is already here and it's the next logical step to the energy field of our world.
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The other technology is one that neither smartphones, social networks, virtual reality, and nor autonomous cars can compare to. The most important technology that has emerged in the last century is the chain of blocks or blockchain. The European Central Bank maintains in a recent report that this invention "could lead an imminent revolution". And some experts believe that its impact will be similar to that of the internet. The blockchain is the technology behind bitcoin cryptocurrency. A cryptocurrency is a digital currency that uses encryption as a security and anti-counterfeiting system. The bitcoin stands as the best known and most common crypto, since it was the first of its kind that can operate without banks or a central authority, and without revealing data about the identity of those who carry out transactions. Its operation is based on blockchain technology: a shared database, decentralized and secure. Shared and decentralized because there are copies of that database in millions of computers in the world; safe because those copies are cryptographically protected: they can not be attacked, banned or deleted. And if there is a discrepancy in the registers, a consensus mechanism acts as the central authority and allows to detect which is the correct one. The crypto world is vast and we're basically in the initial stages of it.
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Now that we've talked about the solar energy and blockchain technologies as individuals, it's time to take things even further beyond. What if those two technologies were to be combined? It would be an amazing accomplishment and completely revolutionize both the energy field and the blockchain world.
And that is exactly what REC is all about.
The Replace Energy Coin (REC) project has implemented blockchain technology to help decentralize the energy market, to build transparency, trust, and security between producers and consumers. Through blockchain technology peer-to-peer transactions are happening in a decentralized way, creating more transparency for producers, consumers and end users. It reduces costs for energy transactions by excluding governments, corporations and third-party vendors, creating a borderless economy worldwide. The adoption of blockchain in the Replace Energy Coin (REC) Business model allows people to buy and sell energy amongst themselves.
This is only the beginning. Even as you are reading this, you are already part of it. We hope you continue to view this amazing project advance along with all of us. The future is bright, and REC will certainly deliver.
Great solar projects, and upcoming highlights event, follow us:
Website: http://replaceenergycoin.com/
Whitepaper : http://replaceenergycoin.com/REC%20WhitePaper.pdf
Telegram : https://t.me/ReplaceEnergyCommunity
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