Platform Release… what will happen?
Major upcoming changes to the platform
SunLovers,
It’s been a little over a month since our last update on the SunContract platform. Since the implementation of that update, the team — with the help of the community — has intensively tested all upgrades and fixed any potential bugs that were discovered while monitoring the system. We can’t express enough how thankful we are to the members of our community who helped us identify potential hiccups which we have since addressed.
Preparation for Stage 2 Platform
While the dev team was busy testing and troubleshooting any issues related to the platform, our partner company in Slovenia was not left behind. During the last couple of weeks, SONCE’s team has also worked very hard to finalize agreements with Slovenian Pioneers who will be the first to use the platform for the first peer-to-peer retail trading of electricity in the world.
While SunContract takes pride in using state-of-the-art blockchain technology, we still need to handle some aspects of the onboarding process of our Pioneers the traditional way in Slovenia. The regulatory framework in Slovenia stipulates that our Slovenian partner (in this case SONCE) must physically sign contracts with each person and put them into the system of the distribution operator. We are therefore thankful to the SONCE team for being extremely dedicated and working relentlessly towards ensuring that all the contracts that needed signing had been signed by the deadline of March 10th. Because of their hard work, things remain as planned and the first blockchain-based trading of electricity will begin in Slovenia on April 1st 2018.
Last days of Stage 1 Platform
As you all have witnessed, development of the platform is a never-ending process. New features continue to be developed by our dev team and this is a process that will never come to a standstill.Thus far, the stage 1 version of the platform has proven itself to be functional and we are now ready to introduce to you it’s enhanced version — Stage 2 of the platform — which will go live in April.
It is extremely important that we communicate clearly to the community how this transition will happen:
On April 1st, the team will inactivate the old version of the platform. This means that new registrations to the Pioneers program will come to an end and on-site purchases will temporarily be disabled. We call this period the “Hideaway Period”. On April 13th we will then reveal the more- functional Stage 2 platform which is similar in design to the Stage 1 platform, but has increased features and ultimately, more functionality.
The migration from Stage 1 to Stage two and “the Hideaway Period” are crucial for the development team to successfully transition the platform to the Stage 2 version. We understand that this is a process that may raise concerns to some of our Pioneers and the purpose of this article is to reassure you, that the team will ensure the highest safety standards in the implementation of this migration transition from the Stage 1 Platform to a more functional Stage 2.
Stage 2 Platform — Production Phase
On April 1st, 2018, the production and supply of p2p energy will begin in Slovenian households. We ascertain that the migration between the platforms will not affect the starting date of the trading process. However, until April 13th, Slovenian Pioneers will not be able to trade this energy amongst themselves.
Instead, Slovenian Pioneers will enjoy the unique automatized algorithm on which the mechanism behind the platform is based. We will take care of ensuring each household is powered with electricity on behalf of our Pioneers.
On April 13th, 2018, during the Smart Villages event that is supported by the European Union commission, SunContract CEO — Gregor Novak will be presenting the platform to high guests and speakers from all across the European Union. This is a great honour for the SunContract Team and our CMO — Winfred K. Mandela will be sharing this moment on our livestream with all of our dear investors.
After the presentation at the Smart Villages event on the morning of April 13th, 2018, the working version of Stage 2 platform will become available online and we will ask our users to update their apps on their smartphones. The web version will be updated automatically. For iOS mobile phone owners, it is important to note that apps on Apple devices take a little longer to update than those on Android devices. For this reason, we kindly ask for your patience and recommend that you in the meantime use the web version of the platform — which you can access on your mobile phone through Safari, or on your computer browser.
After stage 2 update, what happens?
Once the update is complete, users will be able to connect with peers on the platform by sending them an invite through the platform which the counterparty will receive in their email.
For instance, if you are a platform user and you own a solar power plant, you will invite your friends to the platform and suggest your price. And if you know someone who owns a solar power plant, you will invite them to join the platform as well. Once the invitee agrees to join the platform and a price is suggested, the counterparty will then either confirm or cancel this deal on the platform.
If a user is unable to connect with peers because he/she does not know anyone with solar panels, or if they fail to agree on the price, he/she will be charged the daily price of the platform (which varies from day to day). SONCE has signed a contract with each Slovenian Pioneer household stipulating the extent of the daily platform price variations. In the long run, however, the goal is to encourage more peer-to- peer trading, with the daily platform price as mere backup.
Through the app, users will be able to check their hourly consumption, production and transactions. Moreover, users will have access to transparency since they will be able to have a look at all transactions on the blockchain using blockchain explorer.
At the Launch Event, SunContract CEO — Mr. Gregor Novak will present the enhanced platform’s new features to our attendees. We invite Pioneers to arrive and begin the registration process at 2pm with the launch set to begin at 3pm. Pioneers will also have an opportunity to hear from the team about the upcoming updates and future development plans for SunContract. We will also have an info desk at the event venue where you can receive answers to all questions pertaining to the new Stage 2 version.
Markets SunContract is targeting?
A lot of investors have been asking what new markets we will be expanding into. After we launch in Slovenia, we are excited to expand into other jurisdictions. The choice of new markets we enter will be determined primarily by the interest shown by our strongest communities. We therefore invite you all to join our community and encourage you to show your interest in the game-changing peer to peer energy trading which will connect consumers, producers and prosumers of renewable energy in an open energy market.
Register today and join us in the quest for a globally Open Energy Market
Chat with the team on Telegram where we are always active. We are also on Twitter, Facebook, and LinkedIn. SNC token is getting fresh traction and is being recognized by new investors and several different exchanges. Be sure to check out the healthy and stable growth of the SNC token.
SunContract is an energy trading platform that directly connects energy producers and consumers into an energy pool based on smart contracts. Blockchain technology takes over the role of the middle man as a trusted technology infrastructure. The blockchain technologies are implemented into existing energy distribution systems without changing the general energy regulation framework. We have already developed and launched our pilot project which is in use on a national level in Slovenia for a start. We are currently working on expansion, adoption and introducing a fiat gateway on the platform for users to purchase electricity directly on the platform without the need for a cryptocurrency exchange.
For Media Enquiries:
Winfred K. Mandela
CMO — SunContract
winnie@suncontract.org
