Introduction
WePower was established to change how energy is developed and distributed. The WePower team has been in the market for several years during which time it became obvious that we are lagging behind renewable energy adoption. This is not for lack of a desire to live a cleaner life, and improve the world for future generations. It is due to current market bottlenecks, which slows development of renewable energy sources. There are too many intermediary players between renewable energy producers and consumers of energy. Ultimately, these costs go directly to consumers who pay for it all.
WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. Energy tokenization standardizes simplifes and opens globally currently existing energy investment ecosystem. As a result energy producers can trade directly with the green energy buyers (consumers and investors) and raise capital by selling energy upfront, at below market rates. Energy tokenization ensures liquidity and extends access to capital. The WePower blockchain solution is currently recognized by Elering, one of the most innovative Transmission System Operators in Europe.
To optimize the fnancing cycle and open access to capital, WePower enables energy tokenization. Tokenized energy represents a contracting mechanism between an energy producer and energy buyer.
Wepower Team
WePower solves market challenges and inefciencies through a complex platform, which requires a combination of energy, the blockchain, crowdfunding, market trading, independent energy supply knowledge, and experience. The WePower team synergizes this essential mix of expertise to create a new generation utility company.
PARTNERS
WePower due to its potential global impact and ability to solve emission problems is supported by the Ministry of Energy of the Republic of Lithuania
Energy companies and programs supporting WePower:
• The most innovative transmission system operators in Europe assisting us to launch a pilot tokenizing all Estonian energy sector — Elering
• Renewable energy producers intending to use WePower and connect more than 1000 MW solar energy capacity plants to the WePower platform: Conquista Solar, Civitas projects and Novocorex
• Startupbootcamp together with Australian Energy, Spotless and many others running Energy Program in Australia
Blockchain and token sale partners:
• Alignment Ventures — premier one-stop-shop for blockchain creation & transformation
• Bancor — Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
• Krowd Mentor — a strategic investment and advisory frm empowering blockchain investors, funds, startups and entrepreneurs to reach their liquidity goals
• AmaZix — community management for crypto projects
• Bitcoin Suisse — a Swiss-based fnancial service provider specializing in crypto-assets
• TokenLot — payment solution for tokens
• KR Token — a consulting company based in Korea, specializing in dealing with digital assets
Technology partners:
• Catapult — energy infrastructure
• Wings — technology partner
• Metasite — software development
• Blockchain Labs — smart contracts
• Finpass — KYC platform
How Wepower different?
• The perspective of a renewable energy producer
• The perspective of an investor or producer in today’s energy market
• The perspective of an energy consumer
The perspective of a contributor (those holding WePower tokens).
Roadmap
WePower token
Energy tokenization
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).
Tokenized energy auction
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 frst. WPR token holders will have 48 hours advanced access. After this period has elapsed, the remaining energy is offered to all WePower platform participants. The lowest price offering is set by the auctioning party. Current and historical energy prices are visible on the platform. This gives market price reference for energy and acts as a reference ceiling for the maximum energy price.
Blockchain function
Relational databases are adequate in many applications and situations. However, sustainability and scalability are limited with these databases. From the perspective of sector transformation in trading and digital infrastructure creation, transforming energy production to 100% renewable, the answer was to utilize a public blockchain.
Blockchain allows:
• Innovative community interaction across applications
• Provide 3rd party liquidity through exchanges and decentralised exchange protocols
• Enhanced efciency due to smart contract elimination of intermediaries
• Enhanced security due to immutability of data
• Cheaper maintenance vs centralised database
• History of transactions and prediction of transactions
• Fault tolerance for DApps due to decentralised nature of blockchain
Energy is becoming decentralized in nature and the changing reality of it requires a decentralized delivery system. For the short term, a relational database may sufce, but we are building a decentralized application for now and into the future where the energy grid will function and optimize itself, even under extreme conditions. Scalability beyond country borders is more important than short-term pragmatism, as scalability brings more value to the system. 100% renewable energy on the grid, with variable production, on a robust system is more important than a short-term solution. Our platform is scalable through blockchain technology beyond country borders or even continents to be a virtual utility of a new era in clean, decentralized world energy.
Energy tokens use
Every energy token represents 1 kWh of green energy to be produced by a certain time in the future.
The owner of these energy tokens has the following options:
1. First — use the energy when it is produced, if the energy was purchased for a development project in the buyer’s home market.Note that WePower will physically deliver energy based on the number of energy tokens held, once WePower enters a token owner’s home market and begins operation under an independent energy supplier’s legal framework.
2. Second — sell the energy before its production within the WePower platform to any other user.
3. Third — automatically sell the energy to the wholesale energy market once the energy is produced and receive the energy price in fat or crypto currency. This leaves an ambiguity of the fnal settlement price as it is done at the market price in that specifc moment. However, it provides a safety net for the fund invested in energy. All energy with this option is sold simultaneously on the wholesale market.
More information
Bitcointalk https://bitcointalk.org/index.php?topic=2207367.0
Website https://wepower.network/
