WePower – green tokenization is happening!
February 8, 2018 5:33 am,
Everyone is going about saving the planet Earth, but with everything becoming virtual, are we really heading towards it? Talking about virtuality, we are all aware about the cryptocurrency concept, so, WePower is a Green Energy Network, being an Energy trading platform which is powered by blockchain technology. WePower is one of its kind as it is the only Blockchain that raises its capital by issuing its own energy tokens. This is done by enabling renewable energy producers. This concept allows energy producers to trade directly with the green energy buyers at a price lower than market rates.
WePower saw the problem if too many intermediary players between renewable energy producers and consumers of energy. This leads to the consumers paying the cost, which isn’t good. WePower receives data about the produced and consumed energy and its price from the energy trading or exchange markets. The energy is tokenized in the form of kWh unit. One internal token represents 1 kWh to be produced at a certain time in the future. WePowers follows 3D (Decarbonization, Democratization and Decentralization) which will aid its potential to become the next generation utility company. This means that all the green energy projects without the subsidies can finally be imparted at a pace which is required to have a significant positive impact to the Earth’s dangerous experiment with climate change.
It is divided into 3 distinct stages. One, WePower Breeze – here the market entrance, it becomes challenging to see how the energy investments and purchases are done. Second, WePower Storm, the growth of services and usability via smart contracts. And finally, the last stage, WePower Hurricane, where new decentralized energy is utilized. WePower allows renewable energy producers to tokenize and sell the energy produced by themselves. As mentioned above, 1 energy token represents 1 kWh of green energy which is produced within 4-6 months from the connection moment. The said tokenholders will have priority access to the auctions for the sale of the tokenized energy and their allocation will depend on the number of WePower tokens they have.
The owners of the WePower (WPR) Token have the option of either using the energy when it is produced, if such energy was purchased for development of project in the buyer’s home market. Or, sell the energy then and there before its production within the WePower platform to any other user. Or, lastly, to automatically sell the energy to the wholesale market.