Electrify.Asia (ELEC) is a decentralized, peer-to-peer energy trading platform. It is an electricity market place for consumers in Asia. The platform seeks to enhance security and transparency in the energy market and enable consumers to get energy conveniently and at pocket friendly prices. The platform leverages on the power of the blockchain technology and smart contracts to source energy from commercial and private producers and distribute the same to private and commercial users. So far, itShow more [+] has already sold more than 60 GWh of energy as from March 2017.
The platform plans to launch some new features to enhance power production and distribution.
The Marketplace 2.0 - is a web and mobile platform that will allow consumers to buy energy directly from their peers or from small scale retailers.
Synergy - will eliminate middlemen to reduce the cost of electricity and allow consumers to get power directly from local sellers from rooftop solar panels and wind turbines.
E-Wallet - There will be an e-Wallet that will facilitate payment in the platform and
Powerpod - that will record all the energy produced on the blockchain. It will also track and audit the power output of small-scale producers.
ELEC is the currency used to pay for energy on the Electrify.Asia platform. It is an ERC20 token that is premined. Its token sale ended on March 1, 2018, raising $30 million. The price of one token during the sale was $0.0800. Three countries, USA, China and South Korea were restricted from participating. The token is now listed on Kucoin, HitBTC, IDEX, DDEX, IDAX, ForkDelta and Gate.io exchanges.
Electrify.Asia is led by its CEO, Julius Tan, assisted by the COO Martin Lim and other professionals in various fields.
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