Distributed ledger technology is currently being used to heavily disrupt the energy market, with platforms such as Power Ledger running studies that demonstrate the effectiveness of decentralized peer-to-peer energy trading. SunContract, a token in the crypto industry which is only recently beginning to receive exposure, is improving on the existing energy trading paradigm and is currently targeting the European market with plans to eventually expand outside of the European Union.
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Aiming for a platform release in April 2018, SunContract is an energy trading platform that leverages the transparent, immutable nature of blockchain technology to optimize power distribution. The current energy distribution paradigm is heavily centralized, with energy retailers and wholesalers participating in an oligarchy that negatively affects consumers.
With the SunContract ICO finished and SNC tokens now trading on multiple high volume, top 10 exchanges, The SunContract team have completed the final stages of their Q4 2017 roadmap commitments and are putting up finishing touches towards the democratization of the energy distribution monopoly.
What is SunContract?
SunContract allows independent power producers such as homeowners with solar power equipment installed on their homes to connect with power consumers. Both parties are able to connect and trade with each other directly through a decentralized mobile app.
While the concept of tokenized, decentralized energy distribution is an established use case in the world of blockchain technology applications, there are several key features that differentiate SunContract from other platforms.
SunContract is the very first peer-to-peer energy trading blockchain platform to launch a finished product, and is focused on launching in Europe— a region with highly liberalized energy trading regulations. Legislations are therefore not going to be a hurdle in the journey of this Slovenian company. Also, as the platform is based in Slovenia, which is an extremely crypto-friendly country, the SunContract development team benefits from a significant amount of governmental support. They have even been seen at the World Economic Forum, being accompanied by the Slovenian Prime MInister – Dr. Miro Cerar.
For investors, SNC is a unique token with a lot of potential as well. It has a very low total supply (~100 million tokens) compared to similar companies in the energy industry, and is currently priced at a fraction of the price of most other energy tokens.
How SunContract Works
The SunContract platform works in a streamlined, agile fashion. Based on the Ethereum ERC20 standard, SNC tokens function as tradable crypto assets that represent value in the form of “digital electricity”.
In the current power distribution paradigm, a homeowner that is able to generate power is forced to sell excess power to large trading companies at a non-negotiable price. SunContract makes it possible for power generating individuals to join a “Pool” via the SunContract app, selling surplus electricity at competitive rates in return for SNC tokens.
Similarly, individuals seeking to purchase power are able to join the Pool and access a competitive market environment in which they are able to select the best rate possible when purchasing power. SunContract provides a succinct explanation of the tokenomics of their proposed system in a clearly-defined white paper, available on the SunContract ICO site.
The SunContract Platform Release
SNC tokens are already trading at high volumes ahead of the SunContract platform release in April, and can be traded on HitBTC, OkEx, and Huobi. In a unique move, SunContract is offering investors the opportunity to participate in the SunContract “Pioneer Program”, which will be limited to a small group of only 1,000 supporters.
SunContract Pioneers will be offered a range of exclusive benefits, including: Access to the platform when it is released – before everyone else, VIP status at their launch event which they claim will be attended by distinguished dignitaries, preferential treatment with regards to investments into photovoltaics, and permanently lower transaction fees on purchases from SunContract’s partner companies such as SONCE Energy. More information on the SunContract Pioneer Program can be found on the platform website.