Unlocking digital energy
As the digital economy continues to take form, conventional notions about how businesses are structured and how consumers obtain services, information, and goods continue to be challenged.
Hyper-connectivity is fuelling the transformation, using the internet, mobile apps and IoT devices to increase connectivity between people, organisations and machines and allowing for disrupted business models.
But whilst many industries like travel, retail and media (think Uber, AirBnB) have re-imagined the traditional boundaries of their value propositions, the energy industry has been somewhat held back, hindered by a number of factors including a centralised power group and complex regulations.
Here at Verv, we believe it’s time to challenge the status quo and bring energy into the digital economy.
By combining our deep learning Artificial Intelligence with disruptive blockchain technology, we have developed a Peer-to-Peer (P2P) energy trading platform that aims to put power back into the hands of the consumer, all the while improving access to affordable, green energy.
With two government-backed P2P projects now underway, we are looking forward to the next step on our journey to digitising energy; creating a VLUX Token.
What is a VLUX token?
VLUX (VLX) is a utility token which is being created in order to enable token holders to access our blockchain-based energy trading network and benefit from low cost, low carbon energy. Tokens are exchanged within the network for KWh energy which is then directed to the user for their consumption needs.
We’re using blockchain technology with the aim of providing an inherently secure platform which uses a decentralised distributed ledger to keep continuously updated digital records of who owns what. Importantly, with the platform distributed across multiple nodes, having a trading system built on the blockchain aims to ensure its recorded value can be maintained, even in the event of a natural disaster for example.
Seamless Cross-Border Capabilities
By creating a VLUX token, our aim is to ensure that a scalable network is in place as we continue to expand and roll out globally. With cross border capabilities, token users should be able to benefit from seamless functionality.
Furthermore, as we look to empower the 1.1 billion people globally without access to electricity, the global interoperability of the platform will be crucial.
Our Token Sale
Our goal is to distribute VLUX tokens as far and wide as possible, enabling everyone — regardless of the potential size of their contribution — to participate in the benefits of a decentralised energy grid based on our advanced trading platform. By creating these tokens, we are confident we are moving one step closer to the reality of reduced energy costs and better access to clean energy for the masses.
