Mattereum deploys smart contracts to enable ImpactPPA’s “energy generation as a service” May 16, 2018

Mattereum’s smart contract expertise will help ImpactPPA roll out cheap, scalable renewable energy generation to developing countries.

Built on the Ethereum platform, ImpactPPA is a growing venture designed to leverage the power of Ethereum to spark and cultivate renewable energy initiatives across the globe. ImpactPPA is partnering with Mattereum to create the SmartPPA (Power Purchase Agreement) which will be designed to allow projects to find the right funding and resources to fuel the development of decentralized renewable energy resources solutions. ImpactPPA aims to solve some of the globe’s most pressing environmental issues by rolling out wind, solar, battery and microgrid technologies, tied together and coordinated with Ethereum smart contracts.

Through ImpactPPA’s decentralized distribution, the ImpactPPA Community will have the opportunity to purchase MPQ Tokens and, subsequently, among other functions, vote on sustainable projects that have been proposed on the network, unleashing players and stakeholders across the globe to proactively contribute to projects that will radically affect how we as a global community consume energy.

A significant challenge to the roll-out of the SmartPPA is that it requires customers to use smart meters that can accept MPQ tokens. ImpactPPA will therefore supply meters to their PPA utility customers. But these utilities operate in a bewildering array of legal and regulatory regimes. Here Mattereum will provide their expertise in designing smart contracts for the real world, customizing the smart contracts for each market in which ImpactPPA operates, and providing a seamless interface for both ImpactPPA and for energy consumers, as local details such as consumption tax can be handled by the meter.

A partnership has already been announced with India’s Ministry of Micro, Small and Medium Enterprises as part of the Indian government’s Bhartiya Harit Khadi Gramodaya Sansthan (BHKGS) initiative. Translated roughly as “Indian Green Cotton Textile Village Development Organization”, the initiative aims to introduce some 50 million jobs for female workers in India’s more rural states. In an initial trial in Bihar, textile looms will be installed in women’s homes, and ImpactPPA will supply the electricity required to power them.

This collaboration with ImpactPPA is an excellent example of Mattereum’s goal: to bring operational clarity and legal enforceability to programmable agreements in order to build out the Internet of Agreements®, a vision for global supply chains and logistics, integrating national laws and regulation with international commerce through the application of technology such as blockchains and smart contracts.

Dan Bates (President and CEO of ImpactPPA) says: “Smart contracts and decentralization are the keys to sparking a sustainable revolution. Too often, projects with the best of intentions, are held up by red tape and bureaucratic processes. Leveraging the global reach and unadulterated transparency the blockchain gives us the chance to lead this movement that will incentivize players of all communities and professional backgrounds to step up and contribute viable environmental solutions. Mattereum’s deep expertise on the blockchain and unparalleled insights into its potential future will guide the development of ImpactPPA’s reach on the network.”

Vinay Gupta (CEO of Mattereum, and member of ImpactPPA’s Advisory Board) says: “Before I was a blockchain guy, I was a decentralized renewable energy guy. I first worked on energy decentralization in 2002, and a few years ago I arranged the roll out of 100,000 small solar lights in refugee camps in Pakistan with the UK Department for International Development, the first project of its kind. I’ve always had a long term vision of coordinating global access to decentralized infrastructure for power, water, sanitation, health and more using the ever-growing power of the internet. ImpactPPA is a vast forward step in the concrete realization of those dreams, and the blockchain is the right technology to tie together identity, finance and hardware in the field to bring essential services to billions of people. I’m very pleased indeed that Mattereum is joining ImpactPPA at the vanguard of this revolution.”

Vinay Gupta and James Young (CTO of ImpactPPA) have filmed an in-depth discussion about the collaboration.

Vinay Gupta and Dan Bates are available for interview.
For further information
Jenina Bas +44 (0) 7971 551 778
Kate Sharma +44 (0) 7985 259 720

About Mattereum

London-based Mattereum’s core ambition is to enable business on the blockchain by automating legal contract execution and providing reliable legal interpretation and enforcement. Established in 2017 by founders with a track record of designing and launching national-level infrastructure, Mattereum’s team, comprising programmers and lawyers, is building the foundation of the global Internet of Agreements®, the next generation of digital commerce that will underlie many companies’ operations.

About ImpactPPA

ImpactPPA is a blockchain platform built to disrupt renewable energy finance and accelerate global energy production. ImpactPPA’s platform and tokenized model allows communities to rapidly fund and deploy clean energy solutions by untethering traditionally expensive and inefficient structures for energy financing.

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