What does each word have to do with Fohat?
- Blockchain: An encrypted, distributed and decentralized database in which a huge volume of information is stored. As the name suggests, it is a chain of blocks that make up a collective registration system, ie the information contained is not stored in one place, but on all servers that are connected. It makes the chance of tampering, failure or loss of information almost impossible. It is the technology behind cryptocurrencies.
- Energy Blockchain: Blockchain widely used in the financial system through cryptocurrencies (bitcoins) is also used by the power industry with its specific needs dedicated and dedicated network. The potential of blockchain in the energy sector represents innovation for the area and decentralizes it as it fosters new ways of commercializing energy.
- Decarbonization: It is the concept that defines the act, process, or effect of removing excess carbon from a material. In energy, decarbonization means using clean energy formats.
- Digitalization: It is the process by which tools or data, in analog form, assume a digital format. In energy, digitalization is harnessing new technologies for power generation and storage.
- Decentralization: It follows the worldwide trend of distributed generation, consisting of power distribution. In energy, it is to give autonomy in the processes of buying and selling power.
- Energy 3Ds: A global energy market trend based on the transformation of the energy sector, in which the three Ds are decarbonization, digitalization, and decentralization.
- Clean Energy: It is characterized by not being a pollutant to the atmosphere – or polluting less than traditional energy sources. In production and consumption, the most common examples are hydroelectric, wind, and solar energy. They have a minimal environmental impact and don’t interfere with pollution at a global level. For example, natural gas-powered cars are considered “cleaner” than gas-powered cars because they are less polluting.
- Renewable Energy: All energy that is produced using renewed or renewable natural resources. The concept exists in opposition to energy generated by fossil fuels such as petroleum, natural gas, and coal, which come from finite reserves. The oldest renewable energy in use is firewood burning. The energy produced by the movement of water (through turbines, in rivers, or sea waves), from sunlight, from wind, and biofuels are the most relevant examples of clean energy today.
- Energy Intelligence: It is an area of activity in the energy sector. It is a work chain that involves interpretation of society’s behavior, economic analysis of production, distribution, accumulation, and consumption systems and applied innovation as a solution for energy. An energy intelligence company, such as Fohat, can operate anywhere in this chain.
- Energy Web Chain (EWC): Energy Web Chain developed by the Energy Web Foundation is the first public open-source blockchain solution for the energy industry, designed specifically for the industry’s regulatory, operational, and market needs.
- Energy Web Foundation (EWF): The Energy Web Foundation is the largest energy blockchain platform, a consortium with over 150 worldwide companies focused on bringing energy blockchain solutions. EWF has developed the world’s most relevant energy blockchain platform, the Energy Web Chain (EWC). Fohat is one of the EWF’s signatories.
- Fohat (dictionary entry): With Tibetan, Greek, and Egyptian semantic origin, the word Fohat represents the movement of the force of creation in search of simplifying the complex energy cycle towards a more sustainable world.
- Fohacker: It is a neologism created by Fohat, a Brazilian energy intelligence company and it means those who carry within themselves the Fohat spirit and are driven by innovation, simplification, and sustainability in the social, environmental, and economic aspects.
- Energy Market Agents in Brazil: In the Brazil’s Electric Energy Trading Chamber (Brazilian acronym CCEE) there are nine agents, that is, categories of companies that operate in the electricity sector in the areas of generation, distribution, and commercialization: Self-Producer, Trader, Special Consumer, Free Consumer, Distributor, Exporter, Generator, Importer, and Independent Producer.
- P2P TE: P2P TE is an acronym for peer-to-peer trading energy that means energy end to end. It refers to an architecture in which each side acts as both a generator and consumer: prosumer. In energy, this concept applies to the power to decentralize decision making in the production, purchase, and sale of energy.
- Free Energy Market: It is a market where generators and consumers can sell and buy electricity freely. It is a free market system and is already a reality in some countries, including Australia. Brazil is currently in a hybrid market situation, with approximately 30% of its energy being traded in a free environment.