What is Veio?
Veio is a project that connects three areas with enormous potential: energy, blockchain and people. Growth and development in each of these fields is important for the quality of our lives. But joined together into a new, disruptive model of energy trading, they have the power to make our planet a better place to live in. Supporting Veio means supporting sustainability because it brings together energy producers and consumers with common interests: to save money and to create a decentralized, smart and clean future. Energy is one of the cornerstones for a modern society to function. Households, hospitals, air traffic systems, road infrastructures, communication and financial service industries are all dependent on energy resources like electricity to function. The renewable energy market is developing fast, due to increasing energy demands and greater awareness of climate changes. This consequently opens new and interesting opportunities. Research by Bloomberg New Energy Finance shows that by 2040 more than 60% of total investment into the energy sector will go into renewables, which means that the total global investment will be $11.4 trillion of which $7.8 trillion will go into renewable energies and only $3.2 trillion into fossil fuel energy. This is a significant increase of investments into the renewable energy sector, especially into wind and solar power energy; the latter two, according to Bloomberg, amount to more than 65% of total investment into renewables. In its current state, the energy market is facing challenges in the form of centralized conventional power stations that often require high costs of energy transmission over long distances. The existing energy model with its infrastructure will not be able to cope with the increasing energy demand that is expected to more than double by 2050. A change of the model is necessary with a shift to decentralized energy production supported by renewable energy. There has already been some movement towards renewable and sustainable distributed energy systems in recent years.