WePower is a blockchain-based green energy trading platform that connects energy buyers (households and investors) directly with the green energy producers. The WPR ERC-20 token functions as a payment method on the WePower Network, which aims to standardize and enhance liquidity of the existing energy investment ecosystem, thereby translating into reduced prices for network participants. What is WePower (WPR) | What is WePower token | What is WPR token
WePower is a blockchain-based green energy trading platform. It enables to finance green energy projects, to invest into and trade green energy.
WePower was established with the view that we need to change how energy is done. For WePower team being in the market for many years, it became obvious that we are lagging behind renewable energy adoption. This is not because we do not want to live a cleaner life and allow the community to benefit today and improve the world for future generations. It is so because current bottlenecks in the market prohibit us from developing renewable energy sources faster. There are too many intermediary players between the producers and consumers of energy. In the end all these costs go directly to the consumer side and the final customers pay for all of it.
The green energy platform of WePower strives to make way for a cleaner and healthier future by utilising the power of decentralized blockchain technology. WePower creators feel that one of the biggest problems bothering modern day population is the faulty energy source which is utilised for running operations. The benefits which usage of green energy tags along is unparalleled although using the same in our home setup might prove out to be pretty cumbersome. Gross annual renewable energy consumption rose from 7% in 2004 to 17% in 2014 in EU. 54% of Sweden’s economy is powered by renewable energy aiding it in efficient waste management apart from being an extremely clean country.
Ensuring this transition from dirty to clean energy on a global scale might prove out to be an extremely difficult task requiring decades of operation. Renewable energy needs a bulky investment to begin with in the form of wind turbine and solar panels. WePower wishes to cater to these problems by coming up with a network wherein everyone can participate with much ease. This decentralized ecosystem will empower people procuring green energy in buying and investing in the same through symbiotic collaborations.
WePower strives to bridge the gap between energy producers and investors in terms of proper capital allocation. Energy producers can raise capital through smart contracts and sale of tokens (WPR) to investors for enhancing the efficiency of green energy. These tokens shall be representative of the energy which will be generated by producers in upcoming days thus providing investors with an opportunity of investing in renewable energy while putting down their capital for a real product. The producers of renewable energy can enjoy unbridled access to funds in accordance with their need for financing energy production. Investors buying these tokens can take their pick amongst any of the three options:
Suppose a producer need $100 Million for setting up his power generation plant. The producer has $60 Million but is short of $40 Million. Here the producer can use the WePower energy trading platform to finance his project. The producer can raise the funds and in exchange will deliver the energy produced equal to the amount of funds raised to the investor. In our example, the producer will supply $40 Million worth of electricity to investors. The investors can in-turn sell the electricity at increased rates or can self-consume. All the transactions will be recorded in blockchain and executed on smart contracts. Hence, negligible risk of default.
Thus, when a producer requires capital to finance his or her project on a larger scale, he or she is given the option to sell a portion of the energy that he or she will produce in the future to the WePower platform.
The investors acquires all of this energy in the form of internal tokens. Each token hold some value in terms of Electricty (KW/MW,etc) and will be executed on smart contract. The smart contract will automatically execute the transaction but has to be pre-defined with following information:-
Information pertaining to the energy grid is transformed in an accurate manner into tokens for reflecting the production of energy flow as well as consumption of the same by each user. The energy tokens get converted automatically to CO2 tokens on consumption of energy. Users can keep a tab on those CO2 tokens for gaining knowledge about the quantum of CO2 emissions which they could save. Each transaction gets recorded on the public blockchain which is impossible to alter thus helping with the security of record-keeping at all times.
WePower serves the requirement of an internal base of producers, consumers and investors by relying on blockchain-based smart contracts. The energy tokens represent the quantum of energy which can be purchased and consumed by buyers. The international operation of this network is ensured by blockchain so that green energy produced in Spain is sold in Germany.
Users can consume the green energy by themselves or utilise the same as an investment coupled with the use of tokens. The market becomes more attractive on the aftermath of a token purchase thus leading to greater production of green energy.
Anyone wishing to produce green energy can sale the same at a future value for financing the setup cost of their power plant. The expected energy production becomes tokenized paving the way for a legally binding contract which guarantees that relevant amount of energy will be provided by the producer. Coupled with this system, buyers can keep tab on the quantum of energy owned by them presently and the amount which is required out of them in days to come. Purchase and sale of smart contracts is possible providing the buyers with market access in terms of energy production financing along with necessary rights pertaining to sale of investment when the right time comes.
Elering, the pilot project of WePower refers to an Estonian transmission system operator which functions with the aim of building a proof-of-concept to record a nation-state scale of production and consumption data based on the_ Ethereum blockchain__._ This first of its kind initiative will enable the global blockchain powered energy market by leveraging on the existing advanced smart grid of Estonia particularly the central data hub having a data exchange layer to promote transparent 3rd party access and a 100% smart meter coverage having hourly reading. These technical conditions shall serve as the true benchmarks of testing the scalability of the technology working at the backend of WePower. Partnership with WePower can empower utilities in exploring the following possibilities which are non-existent presently:
WPR token stores tangible value and ensures liquidity. It constantly accrues energy donated by energy producers and accumulates real value in a form of energy. WPR token also provides priority access to the renewable energy generation facility project auctions on the WePower platform.
WPR token is a utility token that offers access to the energy donation pool constantly filled with 0.9% of energy sold via the auctions WePower platform. It also serves as a priority access to the energy auctions. The WPR token holders for the 48h of every auction can purchase energy amount equal or less to the share of all WPR tokens they hold.
Total Supply 745,248,183 WPR Circulating Supply 513,061,386 WPR
Looking for more information...
Would you like to earn WPR right now! ☞ CLICK HERE
Top exchanges for token-coin trading. Follow instructions and make unlimited money
Thank for visiting and reading this article! I'm highly appreciate your actions! Please share if you liked it!
Can I write on a Bitcoin Blockchain? Can I drop down a message? Yes, Luca of course you can! You can leave a message on a Bitcoin blockchain using a particular op code, called OP_RETURN.
In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors...
Our Blockchain Online Training will provide you to learn about Blockchain technology aspects with realty. Our Blockchain Course also includes live sessions, live Projects
Get hands on experinece on block chain live industry experts with real world example at Block chain online Training. Enroll for free demo
Blockchain Council is a group of Blockchain experts offering Online Blockchain Certifications and Training to Blockchain enthusiasts all over the globe. Join us today!