4eyes builds Blockchain for energy savings insurance
The Energy Savings Insurance (ESI) project helps SMEs to evaluate and track energy saving renovations and upgrades. The ESI model, using an independent validation process, backed by an insurer, is making sure that energy saving promises are met and that the return on investment is realized. The project team is using a Hyperledger Fabric Blockchain technology to develop the management information system for the project.
The ESI Europe project is funded under the European Union’s Horizon 2020 research and innovation programme, and will be going into production early next year, starting in Italy, Portugal and Spain.
Part of the project involves the development of an online management information system to manage the contracts, the validation and to track the energy savings.
Daniel Magallon, Managing Director of BASE, the project coordinators stated “We analyzed the ESI project and its implementation within the EU. Blockchain turned out to be a great match for our MIS process with stakeholders ranging from SME to large insurances and financial providers.”
Livia Miethke Morais, the project manager from BASE said “The fit of (permissioned) Blockchain to our process is apparent for those already familiar with the technology. We also believe that it will open up future opportunities for our ESI Europe project in terms of smart contracts.”
Currently 4eyes consultants are supporting BASE to design the MIS process for the project to ensure a smooth implementation. The 4eyes developer team will be building the MIS solution based on the open-source, permissioned Blockchain framework Hyperledger Fabric.
Markus Stauffiger from 4eyes stated that “After last year’s hype this is the year Blockchain starts making an impact in the business world. I’m happy and proud to be supporting BASE and the other ESI Europe consortium partners to develop their Blockchain based MIS for the project. I look forward to the coming months when we bring this project to life.”
BASE is a Swiss not for profit foundation and a specialized partner of United Nations Environment. The ESI Europe project was launched in February 2018, by a consortium made up of BASE Switzerland, the Italian Federation for Energy Efficiency (FIRE), Business Council for Sustainable Development Portugal (BCSD Portugal) and EnergyLab (Spain). United Nations Environment Finance Initiative is also supporting the project.
4eyes GmbH is an experienced Blockchain consultancy and development company, based in Basel (Switzerland), focusing on business-oriented Blockchain research and implementation.
Contact for further information:
On 4eyes and blockchain
+41 61 261 43 48
On ESI Europe
Livia Miethke Morais
+41 61 274 04 80
The content within this press release reflects only the author’s views, and not the views of the European Commission or the Executive Agency for SME’s. The Commission and Agency is not responsible for any use that may be made of the information it contains.
The management information system is part of a project that has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 785061