2023 RED Project Update October – December weeks 40-52

We are eager to present our latest developments, plans, and upgrades throughout the last three months. The team has been working on various projects, developing inside the platform, and preparing a go-to-market strategy through the marketing and sales team.

You can watch a summary of the update in video format:

RED Platform Features

YouTube video

Solar Installer Tender

The major focus during the last three months was on a new feature related to the renewable energy part of our platform called Solar Installer Tender. This development will open a new opportunity for businesses and individuals to receive multiple offers for the installation of their solar panels from professionals, in a single place. On the other hand, companies dedicated to the installation of solar panels will have a huge opportunity to grow their business through a simplified process and easily gain access to new clients inside the RED Platform.

The process will save both parties time and effort, speeding up the process and allowing installer teams to understand the project better and organize their work.

The scaling of this feature will have a positive impact on MWAT as it will be required for installer teams to purchase franchises to access this feature and as a guarantee for the commitment of the installers in the process.

Along with this feature, a new upgrade will be required for the franchise structure: new franchisees will be able to purchase a franchise exclusively for accessing the Solar Installer Tender feature. The price for the franchise will be more accessible for installers and will help business owners focus only on what is important for their business. Already purchased franchises will have access to all the features that will be launched.

The feature will be launched in Romania at first and scaled to other countries in a second phase.

REO-G and Power Plant Updates

As we are onboarding more prosumers on the platform, we have been updating and improving the Production point feature on the platform. Prosumers who have Huawei or SMA inverters can join the platform to have access to their production and consumption data.

Future developments will allow our users to better optimize their energy production and usage. We will develop more about these features in 2024.

Stripe Payment Integration

As new features and users are joining the platform, we have prepared a more user-friendly payment integration through Stripe. Now all payments will be made through this platform, which grants a more stabilized environment and easier processes.

Messaging System

We have also launched a new communication system on the platform, which will soon be available in the production environment. This system will contribute to easier communication between the back office and the platform users, franchises, and customers. The messaging system will help franchises communicate better with their customers and have a clear contact funnel and visibility on the platform.

Products Launch

Solar Installer Tender will be a priority as soon as the start of 2024. The sales, marketing, and product teams have been joining their efforts in the consolidation of the strategy for the newly developed feature.

We are aligning the strategy, go-to-market proposition, and the necessary enhancements so that users will be able to join and enjoy this functionality as soon as possible through different channels.

We can’t wait to share more with you about the coming steps, so stay tuned for next year’s updates and find out how you can be a part of it.

Team

The RED Team has grown with one new colleague last month. Let us all welcome Razvan Laichici as RED’s new Chief Marketing Officer! We are very excited to have him on our team and very thankful for his input and dedication until now!

ETH / BTC Wallets

As you have already seen in our updates over the last month, one of the major changes on the RED Platform has been the provisional cancellation of the ETH and BTC wallets and functionalities on the platform.

We wanted to share with you the importance of this decision for the team and the project. As you all know, we have had ETH and BTC on the platform under strict supervision from our legal team in the form and structure in which transactions were made.

As 2024 approaches, many changes will be enforced to be implemented in projects related to crypto through MiCA and other local legislation in different countries, including Romania. We have always sought the implementation of clear and straightforward solutions that were backed by legal analysis and structured accordingly so that we will be able to develop further, without limitations, once the features in the platform are on the market.

Related to ETH and BTC on the RED Platform, we have had various discussions, and proposals and analyzed multiple solutions to avoid this change. Nonetheless, the authorization necessary for maintaining the wallets on the platform in Romania could not have been achieved in a short period. This fact would have slowed down the development, and the go-to-market strategies for a set of features. In the long run, maintaining the same wallet structures would have been detrimental to the development and scalability of the platform and the business model.

As you have already seen throughout the years, we have been legally aligned with the latest updates related to both our energy and sustainability business models and blockchain technology and cryptocurrencies.

We want to assure you that we know the necessity of having wallet services available on the platform, not only for the development and enrichment of the platform but also for you, our users, for easy access, growing your business, and discovering new opportunities.

This is why we are actively looking for solutions that will best fit your needs and will also offer secure transactions and scalability. We already have some solutions that can not only offer you access to wallets but also increase your benefits on the platform.

MWAT will also be a part of this solution, as we are looking to establish a tokenomics structure that will work with the new franchise system and features. We believe 2024 has much in store for the RED Platform project and you will be able to be a part of it.

Plans 1st quarter 2024

RED Carbon Standard Website

As we have already shared with you, we are continuing to build the RED Carbon Standard further and one of the important steps that will take place will be the launch of the RED Carbon Standard website. As the online and public presence of the standard grows, franchisees will gain more traction in developing their sustainability business by certifying projects and finding clients for carbon footprint offsetting.

ETH / BTC Third Party

We have already specified the details of our plan to bring the best third-party solutions for ETH and BTC wallets to the platform. Together with the solution to this issue, we will also look into improving users’ experience and interaction with other platform tokens and transactions.

Installer Tender Feature Enhancements

After the product launch to which we were referring earlier, a new set of upgrades for better automatization is planned to be implemented, depending on the market necessity. We will be announcing the changes as we advance.

Solar NFT

If you have been reading our updates you already know the Solar NFT has passed through various legal analyses during this and the past year. At the moment the structure is fully aligned with our legal team and the feature needs a few updates. It is set for the first quarter of 2024 to begin the launch strategy for this feature.

RED Carbon Standard Registry

Also aligned with what we mentioned before about the RED Carbon Standard, we are updating the Registry on the platform to encompass the changes needed in the certification process, credit issuance, and traceability.

The next updates will be published periodically, depending on product launches and novelties. We will keep a steady quarterly update with more in-depth analysis and planning.

As this is the last update for 2023, we would like to take this opportunity to thank each one of you for the trust and confidence you have had over the years and wish you all the best in the coming year.

Merry Christmas and a Happy New Year with all the best wishes!





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You can see the previous updates here:

– Status report 2023, weeks 23-39
– Status report 2023, weeks 18-22
– Status report 2023, weeks 14-17
– Status report 2023, weeks 10-13