WePower is a blockchain-based green energy trading platform that allows users to finance green energy projects or invest into – and trade – green energy. Here’s our review.
What Is WePower?
WePower, found online at WePower.network, is a green energy trading platform built on the blockchain. The goal of the platform is to make it easier to finance green energy projects, while also making it easier for investors to invest into and trade green energy.
The WePower token sale is underway throughout September, October, and November.
Overall, WePower describes itself as a “next generation utility company” that aims to disrupt the energy market by providing access to renewable energy, investing, and trading through a decentralized, blockchain-based marketplace.
What Problems Does WePower Seek To Solve?
WePower believes a number of major problems are hurting the world of renewable energy, making it less efficient and pushing back development projects. Those problems include:
- Closed energy markets
- Local investments instead of international investments
- Middlemen fees
- Shortage of green energy
- Limited transparency
How Does WePower Work?
WePower is a blockchain-based green energy trading network that deploys smart contracts and enables participants to invest and finance green energy projects or acquire green energy in an efficient, secure, and transparent way. It also provides live, international trading of renewable energy for anyone.
There’s also the potential for WePower to integrate with IoT, in which case it would allow the purchase or exchange of energy as a base layer of the digital energy world.
WePower connects renewable energy producers with energy consumers, energy market makers, and investors (including peers, companies, and institutional investors). Legally, it acts as an independent energy supplier, or IES, which allows WePower to connect to the energy grid and the local energy exchange market.
Through the energy grid, WePower receives data about the produced and consumed energy. This data is tokenized as new energy plants are connected to the platform. Buyers or investors can acquire this energy in the form of WePower tokens, which are built on smart contracts.
Ultimately, a WePower demo is available today online, offering a look at the basic functionality of the platform. The future development of the project is expected to take place over three stages, including:
- Phase 1) Market Entrance: WePower will challenge the energy investment industry by creating the technological layer on which change can happen. This is the phase we’re talking about today.
- Phase 2) Growth of Services and Usability: WePower will aggregate and manage energy flows via smart contracts.
- Phase 3) New Decentralized Energy Utility: WePower will function as a decentralized energy utility, just like you would interact with other utilities.
WePower Features And Benefits
WePower, in contrast, aims to offer all of the following features and benefits:
- Open market for energy trading
- Global investments in renewable energy
- No middlemen and increase ROI
- P2P energy trading
- Full transparency about the production of green energy
The WePower platform is available to try online today through WePower.network.
The WePower Token Features
The WePower token (WPR) is backed by energy. WPR tokens will accrue green energy, and that green energy will be donated directly to token holders by renewable energy producers over the WePower platform. Energy will be donated in the form of energy tokens and stored in the smart contract.
Some of the features of the token include:
- Backed by European regulations
- Supported by the government
- Backed by clean, green energy
- Grow in real value
- International and experienced team with 10+ years of energy market experience
- Platform will be operational within 9 months
- $1.24 trillion USD market potential
- Existing partnerships with energy companies
- Energy development projects are in the pipeline
The WePower Token Sale
There’s a total supply of 340,000,000 WPR tokens. 34 million tokens (10%) are available during the pre-sale, with 153 million (45%) available during the general token sale. 1 ETH = 1250 WPR during the pre-sale, which rises to 1 ETH = 1,000 WPR by the end of the token sale.
The token pre-sale is scheduled for September 20 to October 20, with the general token sale starting at the end of October and lasting 14 days (the time is based on the block number, so we don’t have an exact date).
A further 30% of tokens are given to the WePower team with a 12 month lockup. 10% are given to the community and users. 10% are given to future stakeholders (this math doesn’t add up to 100% of the total supply, so WePower may need to clarify this in the whitepaper).
Who’s Behind WePower?
WePower is led by Nikolaj Martyniuk (Co-Founder, Energy), Artūras Asakavičius (Co-Founder, Investments), and Kaspar Kaarlep (CTO, Energy).
The team consists of energy experts and energy infrastructure specialists.
WePower aims to connect renewable energy producers with energy consumers, energy market makers, and investors (including peers, companies, and institutional investors).
The overall goal is to push the renewable energy market forward. The company believes there are inefficiencies across today’s renewable energy field. These inefficiencies are preventing the widespread adoption of renewable energy.
To learn more about WePower and how the platform works, visit WePower.network today. The developers have an open demo available.