The Republic of Timor-Leste Recognized Digital Energy Trading as a National Development Plan

NEW YORK, NY / ACCESSWIRE / April 14, 2019 / It is reported that on April 8, 2019, Dili time, the East Timorese Parliament proposed an energy digitization draft. The newly passed Renewable Energy Law draft emphasizes that while continuing to develop ecological energy, the speed of onshore wind power expansion should be limited so as to adapt to the lagging situation of power grid expansion and adjust the pace of energy transformation appropriately. Digital management of crude oil energy will be combined with the previous issuance of energy digital currency “EOC” to increase global liquidity.

TIMOR GAP CEO Francisco, an East Timorese oil company, said: “In terms of energy digitalization and intelligentization, we are developing “energy digitalization” and “energy bank.” Oil Token is the representative of Timor-Leste’s oil digital development. It is very important to digitalize energy. It’s like the telephone used to only make calls. To watch videos and movies, you need to use CDs or tapes. After digitization, everything can be done by a mobile phone. Therefore we have decided to digitalize and intellectualize energy.


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