The time has come to implement blockchain technologies into the energy sector. The SunContract.org team has the knowledge and years of experiences in the energy sector needed to push P2P energy trading to the market without changing the existing regulatory frameworks. The project itself will be a heavy financial burden, which is why they turned to the crypto community to the funding for the platform development and implementation. They will start their token sale (ICO) on the 28th of June at 3 PM UTC.
SunContract start-up has been working on this new concept since last year. The main goal of the project is to build a platform where the consumer and the producer will be able to directly trade electricity with each other. At the moment, the team is developing pilot project to collect all the necessary data from different solar power plants that will later be integrated into the platform. Their biggest advantage is that they already have vast experiences from the field of energy trading and the renewable energy market. They already made a lot of projects in the real world and now they want to proceed doing that on the blockchain.
The Ethereum platform brought new possible applications of blockchain technology to the crypto world. Smart contract enables transparent operating without the need for a middleman, which is more cost-effective. With smart contract, two opposed parties can negotiate all terms of business and write it down on the blockchain that can save businesses a lot of forwarding costs. This makes the whole process clear, transparent and irreversible.
The SunContract team wants to implement this technology into their electricity trading model and make price negotiating completely automated, trusted and efficient, thus effectively lowering energy expenses of households.
Sun – the energy of the future
The first goal of the project is to move elec...