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Electrify Asia (ELEC) A Decentralized Market Place For Energy In Asia

by Crypto Research by William ThrillMarch 26th, 2018

Too Long; Didn't Read

<strong>Why People Invest in Electrify Asia</strong>

Company Mentioned

Coin Mentioned

featured image - Electrify Asia (ELEC) A Decentralized Market Place For Energy In Asia

Why People Invest in Electrify Asia

For decades electricity has been distributed to customers from large power stations. This power infrastructure served the global population in a convenient manner for many years, however as technology has progressed, these electricity grids and their subsequent networks have yet to fully leverage modern technology and as result, electricity is not only administered in an ineffective manner, the centralized marketplace also makes it almost impossible to choose preferred providers, such as those who specialize in renewable energy.

Electrify plans to reinvent the way in which we consume power by creating a decentralized network where the customer can choose between a wide range of energy providers.

The platform enables the creation of micro-grids, where customers can purchase electricity from local providers and small-scale producers with residential rooftop solar systems and wind turbines.

Electrify has been in operation since 2017, and has transacted than 30GWh of electricity for business consumers, and established a GMV of over $5 mil.

Technology behind Electrify

Electrify is built upon the Ehtereum blockchain and utilizes smart contracts to automatically execute transactions. Smart contracts replace the need for middlemen in many processes, thus reducing transaction costs and reducing the risk of error.

The blockchain allows for the development of a decentralized marketplace where customers finally have the choice to easily purchase power form renewable energy providers.

The web and mobile application connect users to system. Users are categorized into three main types of participant. These include:

Buy-Side

- Residential consumers

Electricity retailers

- MNCs and Small-Business

Sell-Side

- Small-Business and residential energy producers (factories, warehouses, homes)

- Electric vehicles and battery storage systems

Others

- Electricity grid operators

- Third-party auditors

- Commodity traders

- Risk management teams

The Electrify Marketplace 2.0 builds upon an existing marketplace, created by the team, which gives them a strategic advantage thanks to experience acquired during past years. The new marketplace will host a peer-to-peer platform, called Synergy that connects users with energy retailers of all sizes, and types. The CfD-based platform also allows for plug-and-play capabilities into major cities and all developed power grids globally.

All trades will ride on a Contract for Di erence (CfD) settlement mechanism. Once set up, users will be able to accurately track and audit the production of power from its source to its final destination.

The team has also developed an IoT smart device, known as the PowerPod, to measure and enable P2P trades via Synergy smart contracts.

Producers wishing to provide energy to those using the decentralized grid will be required to have a min of 200 ELEC/kWp of capacity to write energy data onto the blockchain. This ‘deposit’ encourages long-term ownership and disincentives tampering and dishonest behavior.

Electrify Token ELEC and eWallet

The ELEC Token will be the standard for payments in Marketplace 2.0 and Synergy. This ERC20 token will be used for any transaction on platform including (but not limited to):

• Listing deposits for energy producers and retailers to access Electrify’s ecosystem

• Transaction fees paid by Energy Providers to Electrify

• Loyalty rewards for consumers

In order to manage tokens Electrify will also release an accompanying wallet. The eWallet will use to pay for services and can be enabled to automatically manage payments. .

What problems does Electrify solve?

Current systems that govern the market are strictly centralized, which lends itself to several negative factors such as

lack of transparency — unclear tariffs, little if not no choice in providers, providers use anonymous sources, little of no information regarding usage and carbon footprint

barriers to clean energy — no open market therefore very few, if not no options, no options means no opportunity to select a greener, renewable energy source

consumer credit risk — decentralized, trustless architecture of the blockchain technology makes it easy to filter out users with poor credit ratings, resulting in cheaper fees for all.

Some countries are liberalizing their power grids. Japan did so in 2016, so has China and Singapore is currently planning the shift. As more countries change their electricity markets, consumers will have more choice when it comes to selecting their electricity retailers.

Whilst this is a step in the right direction towards a fairer marketplace, these liberalized systems still rely on centralized grids, which are managed by large corporations seeking to maximize profits. Centralized systems are also lagging in innovations and alternatives, with solutions like renewable energy and peer-to-peer energy failing to become and industry standard.

Electrify believes in giving the consumer access all of ELECTRIFY’s service, which can be purchased directly from electricity retailers or even from peers (P2P) producing their own excess supply of power to feed the grid.

Road Map / Future

The first 2 quarters of 2018 are set aside for fund raising. The whitelist period ran through Jan 2018, and the token sale was scheduled to end February 2018. Q3 sees the beta launch of the Electrify Marketplace 2.0 and the eWallet, and Q4 will follow with the launch of the Synergy and Powerpod, as well as expansion into Japan. Further growth is scheduled for 2019 with plans to expand into The Philippines and Australia.

Valuable Information About Electrify Asia

Coin Name : Electrify.Asia (ELEC)

Total Supply : 750,000,000

Circulating Supply : 612,000,000

Market Cap : 30,000,000 USD hard cap

Ico Price : 1 ELEC = 0.08 USD

Tokens/Money Raised Through ICO : $29,102,830 USD

Staff / Team Info

Name :JULIUS TAN

Title :CEO

LinkedIn :https://www.linkedin.com/in/julius-tan-69675144/

Name :MARTIN LIM