The LCG project: looking ahead

LCG Energy ICO
Nov 1 · 4 min read

With the number of ICOs slowing down and the market moving towards its natural equilibrium, truly innovative projects have started to take over the blockchain scene. Although the number of new projects is far lower than what it used to be 2 years ago, the advancements in blockchain technology are accelerating — big companies such as IBM have come a long way in their efforts to find new use cases for the innovative technology. Some of the companies that are devoted blockchain supporters and are actively researching it are forecasting the widespread adoption of decentralization in data exchange and transactions by 2025. Undoubtedly, blockchain will play a significant part in our lives in the following decade.

As one of the sectors that is interlinked with virtually any industry, energy has not fallen behind in its attempts to merge with blockchain. One of the few promising projects in the energy sector for 2019 and 2020 is coming from a renowned energy company on the German market, which has over 10 years of market experience and a projected revenue of 90M EUR for this year. We are talking about LCG Energy and their plans to become the first electricity provider to adopt blockchain technology.

Our background

LCG Energy is one of the few independent energy resellers, contractors and electricity suppliers on the German market in Europe. Founded in 2009 with private funds, LCG Energy managed to penetrate one of the most difficult markets with the highest entry barriers — today, LCG serves the needs of over 50.000 customers and has a partner network of over 1000 suppliers. The company was licensed in 2015 by the German and Austrian Federal Network Agencies for Electricity, Gas, Telecommunications, Post and Railway.

In the light of the ever rising political and economic pressure the energy sector is faced with due to the environmental issues which needs hasty resolution, LCG Energy believes that only technological progress and the widespread adoption of the newest innovations in digitalization can allow the industry to cope with the challenges it is faced with. As a result, two years ago, we started to research the possible use cases of blockchain technology in the energy industry and how it could help us to solve the problems in the sector. After a thorough analysis, research and development, the LCG Energy Project was born — a full-fledged energy ecosystem that combines a wide array of energy related services under one roof, introduces a universal digital currency for the sector and enhances Smart Meters with blockchain technology. The ultimate purpose of our project is to make energy more affordable and accessible to as many people as possible, while also increasing the efficiency of energy trading and consumption.

The private sale of LCG Energy launched on the 1st of August and is still up and running. It offers 35% bonus on all investments above 1000 EUR and other incentives for everyone who wishes to become an early adopter of LCG. With 2019 at our doorstep, we will be transitioning to the pre-sale phase, which will offer a 15% bonus on all investments above 1000 EUR.

With the private sale of LCG Energy approaching its end and the frequently asked questions about our future roadmap, we decided to give you a brief overview of our plans.

Future plans

Over the last year and a half we have been researching the integration of blockchain technology to the Smart Meters our company has been installing for the last 5 years and the possible synergy effects both consumers and suppliers can get from that integration. With the help of the Smart Meters and the digital data they transmit in real time, we have managed to achieve up to 20% lower cost and higher energy efficiency for our customers. We aggregate the data derived by the Meters and analyse it in order to design recommendations for the improvement of existing energy processes and consumption.

We are proud to announce that by the end of 2020 we will implement blockchain technology to the Smart Meters of all of our existing customers. Blockchain integration will allow us to enhance the efficiency of the Smart Meters and the way they communicate with our headquarters, while bringing full transparency to the end customer regarding the data that flows between the Meters and our company. We are further planning the development of advanced AI and AML algorithms (Automated Machine Learning) in order to fully automate the data aggregation by the Smart Meters, analysis and the generation of recommendations for the improvement of the existing energy consumption of our customers. AI and AML work perfectly in conjunction with blockchain and offers improved flexibility compared to traditional methods, while also allowing us to lower our operational costs substantially for not having to manually analyze the data we receive.

Furthermore, we are planning the software implementation for direct energy buying from exchanges through the Smart Meters by bridging the LCG platform with the exchanges with the help of the APIs that are currently in development.

Until the end of 2021, we plan to establish the LCG token as the universal digital payment method for energy purchases across Europe. Over the course of the next 2 years we will open subsidiaries across 3 more countries on the old continent, allowing us to position LCG Energy as one of the leaders on the european energy market.

The future of the energy industry lies in technological progress and innovation. If you want to become a part of it, check out https://lcg-group.de/ to learn more about our project and the ongoing private sale with 35% bonus on your investment.

LCG Energy ICO

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LCG Energy wants to change the reality of power and information asymmetries on both the energy markets and between big electricity providers and end consumers.

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