This is one of the eamples where Blockchain technology is being utilised to address one of the real life problems and that too a big one- Climate change & depleting energy resources.
what is WePower?
WePower is a blockchain-based green energy trading platform. It connects energy buyers (households and investors or market makers) directly with the green energy producers and creates an opportunity to purchase energy upfront at below market rates. WePower uses energy tokenization to standardize, simplify and open globally the currently existing energy investment ecosystem.
Why is there need of such tokenization in green energy sector?
WePower aims at cutting through the current problems of access to capital for the renewable energy producers and access to investments in great profitable projects directly for the final consumers. This is done using the fastest and transparent way through blockchain and energy tokenization. By employing technology WePower solves the following energy market insufficiencies:
• Global access to capital for green energy projects
• Global access to green energy investments and trading (i.e. liquidity)
• Speed and transparency
What is Energy Tokenziation?
The WePower platform allows renewable energy producers to tokenize and sell the energy they produce. A renewable energy producer connected to the platform issues its own energy tokens within the WePower platform, where 1 energy token represents 1 kWh of green energy to be produced in a certain time in the future (usually within 4-6 months from the connection moment).
Each renewable energy plant connected to the WePower platform will organize an auction for the sale of tokenized energy. WePower token holders will have priority access to such auctions and their allocation will depend on the number of WePower tokens they have. Each new plant will create an auction on the WePower platform for the sale of energy tokens to energy buyers with the minimum price set for each energy token, which will represent energy to be produced and delivered.
Each new renewable energy plant offers more economical energy to the users of the WePower platform through the auction mechanism, which sets the lowest price for energy per 1 kWh (or one energy token). The auction opens to WPR token holders first. WPR token holders will have 48 hours advanced access. After this period has elapsed, the remaining energy is offered to all WePower platform participants.
Every Energy token holder will have three ways to utilize his tokens-
First - use the energy when it is produced,
Second - sell the energy before its production within the WePower platform to any other
user.
Third - automatically sell the energy to the wholesale energy market once the energy is pro-
duced and receive the energy price in fiat or crypto currency.
WePower Backgroud
WePower team is led by energy experts Nick Martyniuk, Kaspar Kaarlep and Heikki Kolk, who lead a group of 12 highly experienced energy engineers and former-Skype programmers. Team of engineers has previously worked on the smart metering implementation countrywide in Estonia, leader in the rollout of full smart grid in the world. Our Blockchain development is led by Jon Matonis (founding partner of Bitcoin Foundation), our token economy is structured with the help of Eyal Hertzog (chief product architect of the Bancor Protocol) and David Allen Cohen (smart grid innovator) helps with software matters.
The project is supported by the Ministry of Energy of the Republic of Lithuania, due to its potential social impact on climate change control. WePower will share part of its technologies to countries who implement green energy and CO2 accounting, using blockchain technologies.
WePower have a demo version ready which can be tried out. Due to all the above, I am very positive about this ICO. They have thier aim in clear sight and are well prepared to achieve this. Market is wide open and they will promote sustainable development. I suggest to take part in their ICO.
More information visit:
Bitcointalk -https://bitcointalk.org/index.php?topic=2207367.0
Website- https://wepower.network/
Twitter- https://twitter.com/WePowerN
Ethereum Address: 0x8027cb9fD18F935bB06cC98e0dfd48D074F87dc2
BTC: 19Apd2goafbofkndwkpmgxqMNpfsfJVaUX