Swytch, a blockchain-based clean energy incentive, and MobileBridge, an international mobile engagement pioneer, have announced a partnership to drive sustainable energy generation to reduce global carbon production and to improve economic and environmental sustainability in towns and cities across the globe. By connecting sustainable energy generation to the consumption of locally produced goods through token loyalty rewards, the goal is to provide significant cash flow to the ‘Main Street’ economy.
The partnership utilises the MobileBridge Momentum platform that enhances the relationship between Swytch and the users of its blockchain-based solution that tracks and verifies the impact of sustainability efforts and actions on the worldwide level of CO2 emissions. MobileBridge’s Momentum enables Swytch to better manage feedback, incentives and rewards in order to strengthen loyalty and confidence as well as assist in overall ecosystem development, while giving the consumer full control over their personal data and a real monetary value for the support they provide to the Swytch community.
Swytch leverages smart meter and blockchain technology to reward the companies and people who reduce carbon emissions the most. At the core of the Swytch solution is an open-source ‘Oracle’ that uses artificial intelligence and machine learning to determine how much carbon is being displaced and therefor how many Swytch tokens to award. As a result, producers of renewable energy create Swytch tokens by generating solar, wind and other forms of renewable energy.
Evan Caron, co-founder and managing director of Swytch, commented: “The goal of this partnership is to provide a catalyst for cities of all sizes and locations to produce and use sustainable energy. By enabling the necessary economic incentives, we aim to accelerate the transition to the Fourth Industrial Revolution, which is a fusion of technologies that is blurring the lines between the physical, digital and biological spheres and disrupting almost every industry in every country.”