Blockchain firm WePower aims to revolutionise green energy trading

wepower logoBlockchain-based energy trading platform WePower aims to connect energy sellers with buyers to facilitate the trading of renewable energy.

The rise of homeowners investing in rooftop solar panels has exploded in recent years with many producing a surplus amount of energy which is then fed back into the national grid. This semi-decentralised approach to energy production not only meant discounted energy bills for those homeowners but also incentivised cleaner energy production.

WePower hopes to take this idea further by making the process more transparent, competitive and highly flexible for both power generators and energy consumers on an individual level.

One way in which they aim to do this is by enabling the trading of unused energy to other buyers across the network in the form of WPR tokens. These tokens will then be tradable and represent one kilowatt per hour of energy.

This approach not only incentivises individuals to get involved with and use cleaner energy but also cuts out centralised energy providers who continually inflate the price. With WePower energy is traded by individuals making the whole process more competitive, resulting in a better deal all round.

Although still in the early stages of development, WePower have already developed a number of renewable energy plants including hydro and solar farms and built up a cache of customers who wish to this electricity. The firm also has 1 gigawatt of capacity lined up with three solar plants in Spain.

Energy experts Nick Martyniuk, Kaspar Kaarlep and Heik-ki Kolk are leading the team of 12 engineers and have previously worked on multiple smart metering implementations across Estonia.

The Blockchain development will be led by Jon Matonis, founding partner of the Bitcoin Foundation and the upcoming token launch will be spearheaded by Eyal Hertzog, co-founder of the Bancor Protocol.

With the rise of blockchain, energy production and usage can now become truely decentralised and accessible giving back control and power to the people. Those involved will have more control of their bills, energy production and the market price.

This “people powered” decentralised approach to energy production and consumption is extremely refreshing, especially given utility companies regularly carry out unfounded price hikes which ultimately leave consumers powerless and at the mercy of their providers. WePower estimates that customers can save at least 17% on energy bills through their energy grid.

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Upfiring: Blockchain startup could revolutionise P2P file sharing

This year we’ve seen the launch of many ICO’s, with the majority just being blatant scams or just down right useless.

That said every so often a project comes along that not only only has a genuine purpose but also thrives in a blockchain environment. This week that project is Upfiring, a blockchain company aiming to revolutionise the P2P file sharing industry as we know it.

Utilising the Ethereum Blockchain, Upfiring has created a decentralised autonomous P2P network that allows anyone to easily share files regardless of if they are on a desktop computer or smartphone.

File-sharing is currently seen as an unrewarding process for both seeders (due to little to no return for sharing) and frustrating for downloaders (due to the lack of seeders and slow speeds).

Upfiring has a solution to address this. The company has developed technology which solves many of the current problems we see today with P2P file sharing such as seeding, searching, downloading, ratings, and peer evaluation.

In layman’s terms the Upfiring process is as follows:

  1. A seeder shares a file through the Upfiring network
  2. The file is encrypted by the platform
  3. A downloader requests access to the seeded file but can only download once they have paid using the currency of the network which is UFR tokens.
  4. Once downloaded and paid for in full the file can be decrypted.

The above is a seamless process that requires no technical; knowhow on the user’s part. Given that UFR is also a tradable currency allows both seeders and downloaders to utilise exchanges to buy and sell the tokens as and when required.

Despite file sharing existing since the early days of the internet recent statistics show that the industry has continually grown over fifty percent since 2008. With no sign of this slowing down the industry has long been overdue a technology overhaul to speed up and improve efficiency.

Some of the Issues with current file sharing platforms:

  • Lack of seeders
  • No benefit to seeders
  • Risk for seeders
  • Snooping/ privacy concerns
  • Massive disparity between file download and availability ratio.

Benefits of incentivised file sharing:

  • Seeders are compensated (resulting in more high quality seeds)
  • Larger variety of seeds
  • Seeds can be rated more effectively
  • Faster access and downloads
  • A self sufficient system that settles payment publicly

Upfiring is currently running an initial crowd offering where anyone can invest in the technology in exchange for Upfiring tokens. You can find out more about the project and support it at: https://upfiring.com/

Their whitepaper can be accessed here: https://upfiring.com/Upfiring_Whitepaper.pdf

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