Blogs
WePower Offers an Incentivized Approach to Renewable Energy Production
WePower is an eco-friendly blockchain project that seeks to increase the use of renewable energy by creating a token-based platform on which energy traders can raise capital. The model allows green energy producers to transact directly with energy investors as well as consumers by selling their output upfront at competitive below market rates.
The tokenization of the platform increases access to capital for energy market players and also improves liquidity. At the moment, financing options for renewable energy projects attract a significantly high debt-to-equity ratio. This makes it challenging to develop and implement such projects. The WePower model attempts to address that market gap because it allows anyone who can purchase tokens to become an investor.
The WePower Dual-Token System
A key component of this model is a double-pronged token system, the energy tokens that run smart contracts for the system’s blockchain, and WePower (WPR) tokens that serve as the platform’s medium of exchange. The energy tokens have a relatively stable value as they reflect actual energy prices.
Green energy producers sell their tokens within the WePower ecosystem using an auction model. WPR token holders on the platform get the first priority to purchase the energy tokens. They have a 48-hour window period during which they can buy tokens at the best possible prices using the WPR tokens in their possession at the time. After this period, other buyers can participate and the initial investors have the opportunity to sell at a profit. This model is a great way to appeal to traders to join the platform, buy and hold tokens so as to participate in the auctions.
Green Energy Trading Opportunities
WePower is the first model of its kind to offer investors the opportunity for live trading in green energy. This creates numerous possibilities as the system only acts as a base layer for numerous potential digital energy innovations. For instance, the system can be integrated with the Internet of Things for energy trading. Being an early riser in this sector, the platform could become a global leader in the decentralized energy revolution.
It is noteworthy that with the current rate of climate change and carbonization, the existing systems are fast heading towards obscurity. This next generation system which combines decentralization, democratization and an eco-friendly approach offers an ideal solution.
Project Implementation
WePower is starting out by creating a green energy ecosystem in Europe, as the regulatory framework governing the region seems most ideal for the implementation process. The European energy market enjoys the advantage of having a uniform regulatory structure across all of its constituent states. This presents the ideal setting because the project will require the existing energy grid to allow for tokenization beyond borders.
The energy industry offers an opportunity for big business as it is a key player in the global economy. WePower is targeting both new and existing players in the renewable energy sector by facilitating investments to allow for its generation and trade. The platform seeks to connect these producers directly to the consumers in order to eliminate costly third parties and create a unique investment opportunity for everyone involved. The project already has a demo platform available for tests on its website.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of coinmarketcap.com
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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