Bit Green Energy Equivalent (BGEE) is a consensus-based peer-to-peer network that enables a new payment system and a completely decentralized digital currency. The new currency, BGEE, will be backed by units of stored energy, barrels of Crude Oil, derivatives or even electricity (batteries). Issuers of BGEEs will be owners of stored energy. BGEE will use Blockchain Bitcoin technology with a Proof-of-Stake mechanism to sign the blocks. A more robust Public Private encryption scheme than the actual that supports the bitcoin will be used.
BGEEs offer the whole society the advantages of a new virtual currency securitize by real assets. Financial Institutions, Energy traders , Energy companies, Investments companies and Individuals and entire countries with a low level of bankarization will benefit from the BGEEs.
Bit Green Energy Equivalent (BGEE) will be issued by the owners of the stored Energy (Crude Oil barrels or equivalents). Issuers of BGEEs and R Fintech will support BGEE network. The issuance will be made in blocks of 1.000 (thousand) BGEEs. The block will contain the certificate of the barrels stored plus the new BGEEs issued. The BGEEs would be redeem by means of the assignment of the barrels’ certificate to a new owner. (or the former one). Actual holders of BGEEs will pay 6% annualized interest to the BGEE network. Transactions of BGEEs will have no charges or commissions.
BGEE offer security to both buyer and seller When we make purchases with BGEEs we do not have to reveal sensitive information such as credit card numbers or bank accounts, and therefore there is no risk that this information will be available to online sellers or anyone else . With BGEEs, there is no risk that fraudulent buyers and scammers can reverse payment and seller loses both the product and the money BGEE’s features allow pages to establish an escrow service, ensuring that the seller receives the money only if the product has successfully reached its destination BGEE lowers costs by eliminating the middlemen altogether In the BGEE ecosystem, there are no intermediaries and money passes directly from person to person: the buyer to the seller or owners. This reduces substantially the price of sending money and also allows you to sell products and services at a fair price BGEE is fair With BGEE, anyone can send and receive money without any restrictions. This facilitates the creation of new businesses and online stores. Also, if you own a business which is both digital and physical, it costs nothing to start accepting BGEEs BGEE has true value Confidence for a currency is the most important characteristic to be accepted by the people
Direct exposure to the energy markets – the value of your investment will rise and fall in direct proportion to the price of the Energy. You can hedge your exposure using the CFDs market. Liquidity - BGEEs are ‘open ended’ securities, which are created and redeemed on-demand. This means that the supply of BGEEs is unlimited * and that price changes will accurately mirror developments in the price of the underlying commodity . Low dealing costs - BGEEs are traded on regular stock exchanges, making them both accessible and affordable – they can be traded through your share dealing service for a commission. Transfer costs between BGEEs wallets are free of charge. Portfolio diversification – BGEEs give broad representation across entire commodity sectors and different geographic regions.