Energy cost and availability have become a huge problem in this modern era. As the resources for conventional unrenewable fossil energy keep decreasing, it is the time to move to the renewable green energy. Unfortunately, converting to green energy is not as easy as it sounds. There are still many problems revolving around the modern energy usage and if those issues are not solved, it is impossible to move from conventional energy to green energy.
WePower is developed to provide solutions for those issues by taking advantage of blockchain technology. Now, let’s find out how it is possible to combine green energy technology and supply with blockchain technology.
What Is WePower?
WePower is a platform that is developed to enable blockchain based green energy trading. Its main purpose is to issue tokens that can be used to trade energy. WePower token (WPR) is different with most tokens out there, mainly because it is backed by green energy. WPR is not a volatile token that will put the holders in huge financial risk if the business model doesn’t work out. Green energy is big business that holds a lot of potentials to grow, which makes WPR a more secure investment compared to the other tokens.
The main goal of this project is to transform how green energy industry works and how energy is delivered by customers. Overall, it is specially developed to solve the problems of green energy production and distribution. To find out more about what WePower actually is, let’s analyze the problems it aspires to solve.
The Problems in Modern Energy Production
- For Producer and Investor
Actually, energy producers and investors are aware of the danger of fossil energy for the environment. They are also aware that green energy is the solution for that. However, they are reluctant to tap into that field because renewable energy is not really attractive from profit perspective. The number of investors in green energy research and development keeps decreasing. As a result, the producers don’t have the necessary capitals to start their green energy project and they don’t have any choice but keep producing fossil energy.
- For Consumers
The cost of producing green energy is actually not that high. Unfortunately, since producers cannot sell energy directly to the consumers, distributing the energy must pass numerous intermediary channels. Energy cost becomes extremely expensive and in the end of the day, it is the consumers that have to pay for those exorbitant costs.
The Solution WePower Offers
The first solution WePower offers is energy tokenization. WePower’s energy tokenization makes green energy industry more profitable for energy producers and investors by ensuring improved capital from energy production. With a tokenized form, the producers are able to sell their renewable energy directly to the consumers. As a result, the cost of energy distribution becomes much cheaper and more people can access renewable energy. Tokenization cuts the needs of intermediaries to distribute the energy which means the demands from the consumers will be much higher, which in the end of the day will benefit the producers.
By making green energy industry more profitable than conventional energy, WePower also will have positive influence for the investors. Investors finally can see the huge potentials of renewable energy sector and see how they can profit from that. When more investors found green energy industry attractive, the development of technology in the green energy sectors will improve rapidly, which will give positive contribution to the environment.
Energy industry is an uncharted territory for the end users but WePower and its tokens will change that paradigm. To attract consumers to participate in green energy industry, WePower offers energy auction. Energy auction is an energy trading method that is reserved for WPR holders. Those who own WPR can participate in a closed energy auctions where they can purchase energy in an even lower price.
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