Crypto Projects developing Hardware

CRYPTO HARDWARE
HARDWARE
30.11.2018
CRYPTO PROJECTS DEVELOPING PHYSICAL PRODUCTS
CHRISTIAN OTT
AUTHOR
Introduction
Cryptocurrencies backed by physical products are a minority in the emerging market of digital assets. The majority of projects focuses solely on the software side, which is obviously a huge market for itself and doesn’t involve all the risks included in the production cycle of a physical product. However, physical products are needed in a variety of sectors and can offer great additions to the software solutions provided by different projects. Therefore, I took a closer look at different crypto projects developing their own physical products and will present them to you in this article.

Sirin Labs
The first and probably most widely known product in this list is the “Finney” smartphone developed by Sirin Labs. It is labeled as the first blockchain smartphone and therefore offers unique features. It has a built-in cold storage wallet, runs on its own operating system Sirin OS and offers a decentralized application center supported by a token conversion service.1 Following the footsteps of Sirin Labs’ first smartphone, the Solarin, the Finney phone also focuses on cyber security. Its 3-factor-authentification (Biometric, Lock Pattern, Behavioural) denies unauthorized access, the communication is encrypted and its Intrusion Prevention System helps to detect cyber attacks.2 Its other features include a 12 MPX main camera, an 8 MPX selfie camera, 128 GB storage memory, a 6 inch 18:9 notch design display and an additional 2 inch multi-touch safe screen for the cold storage wallet.3 In addition to the smartphone, which is only one part of the Finney device family, Sirin Labs will also launch an all-in-one PC.4

Skycoin
Manufacturing hardware is a key part of the Skycoin project. They have a department with 30-40 people working on Skycoin’s hardware projects right now.5 Their most prominent device is the Skyminer, which serves as an access point to their decentralized internet Skywire. It consists of 8 hardware nodes made up of 8 Orange Pi Prime PCB boards.6 Participants of the network Skywire connect to a Skyminer wireless, which is why Skycoin is also manufacturing antennas. The design of these antennas includes an engine at the bottom and the top, enabling them to move in every possible direction.7 The antennas will have a range of up to 5 km.8 Completing the list of network devices, they are developing a Skywire router, which will automatically direct all of a user’s network traffic using a VPN, once the router is plugged into the Skyminer.9 In addition to their network devices, Skycoin is also launching a multicoin hardware wallet, to make the storage of Skycoin and other supported cryptocurrencies as safe as possible.10

Ecomi
A fairly new company in the crypto space is Ecomi. Despite having stepped in the spotlight just recently, they already offer a fully functional hardware wallet. It has the same size than a credit card and acts as a true cold wallet, by never connecting to the internet directly. While interactions with the cold wallet are made via its companion app available for Apple and Android, the “Secure Wallet” requires you to physically confirm every outgoing transaction. The two confirmation steps involve a confirmation of the amount to be sent (shown on the Secure Wallet display) and pressing the confirmation button to finalize the transaction.11

What makes the Secure Wallet stand out from other hardware wallets, is its utility for digital collectibles. Given that Ecomi is mainly working on bringing digital collectibles to the blockchain, you can not only store digital collectibles on the Secure Wallet, but also see each of those collectibles in Augmented Reality by using Ecomi’s app in combination with your smartphone camera. You just need to point your camera to the backside of the Secure Wallet and it shows your selected digital collectible.

Solar Bankers
Moving on to the energy sector, Solar Bankers is a cryptocurrency company that offers a variety of physical products. Their flagship product is their solar panel DPV (Deflecting Photovoltaic). It is designed to endure high temperatures and is therefore 30% more efficient than standard solar modules. Core elements of DPV are the use of a holographic foil in combination with the use of a significantly lower amount of silicon than in regular solar modules, which makes its production costs 50% less expensive in comparison. Its maintenance costs are reduced as well, by using a self-cleaning surface, that reduces the amount of dust/sand on the module. Its durability is proven to be over 25 years.12,13

In addition to the DPV, Solar Bankers offers five other physical products. The first one is a concentrator called ‘Umbrella’, which offers a concentrating film that can be placed above standard solar modules to improve their efficiency.14 The second product in this list is an energy generating solar tile, which can be mounted on rotating cubes that follow the motion of the sun to generate as much electricity as possible.15 The third product is an energy generating solar window, which is covered by a fully transparent, nano-structured film, that redirects a part of the incoming light onto solar cells, which are integrated in the window’s frame.16 Product number four is a light recycling module, that recycles artificial light and converts it back into electricity by using a holographic film that redirects a part of the light onto mounted solar cells.17 The fifth and latest addition to this series of products is the Solar Bankers Node, that consists of a solar panel, a battery and a Raspberry Pi, enabling the project’s blockchain nodes to run on solar power only.18

Electrify.Asia
Asia-based company Electrify is producing hardware as well with their own IoT smart device “PowerPod”. It supports Electrify’s platform Synergy, that enables individuals to trade energy peer-to-peer without the need of middlemen.19,20 The PowerPod offers different features.21 For energy providers, it can monitor and log the amount of electricity generated and write it onto a blockchain.22,23 For consumers, it can serve as a monitor to track how much energy was consumed.24 Additionally, PowerPod might include a functionality for consumers to participate in demand response programs, where they can reduce their power consumption in case the grid is undersupplied.25

Infographic about the Hardware Projects
As an overview of all the mentioned projects in this article, I created an infographic in a poster format:
Poster
I also made a downloadable version of the poster displayed in this article, which you are more than welcome to share or print! Download it here:

Download
Crypto Hardware Projects – Ultra High Quality – Width: 4960 Pixel
Sources – Sirin Labs
1
“SirinOS – Built-in cold storage wallet – Decentralized Application center (dCENTER) – Learn & Earn Incentivized Education – Token Conversion Service”
Sirin Labs; Official Website; Finney – Features; 29.11.2018
2
“Cyber Protection – Behavioural based Intrusion Prevention System (IPS) – Blockchain based, full tampering proof – Physical security switch (for wallet protection) – Secured communications (VoIP, text, email) – Three-Factor authentication: Biometric, Lock Pattern, Behavioural”
Sirin Labs; Official Website; Finney – Features; 29.11.2018
3
“Finney – The First Blockchain Smartphone – 2” Multi-Touch Safe Screen – Built-in “Cold Storage” Crypto Wallet – 12 MPX Main Camera – 8 MPX Selfie Camera – 6″ 18:9 Notch Design Display – 128 GB Storage Memory – SD Memory Card Slot”
Sirin Labs; Official Website; Finney – The First Blockchain Smartphone; 29.11.2018
4
“From SIRIN LABS, creators of SOLARIN the world’s most ultra secure mobile phone, comes: The FINNEY Device Family. The first open source, secure smartphone and all-in-one-PC that run on a fee-less blockchain.”
Sirin Labs; YouTube; Introducing Finney – Secure Open Source Consumer Electronics for the Blockchain Era; 17.06.2018
Sources – Skycoin
5
“I would estimate, that there are 30-40 people working on Skycoin’s hardware projects right now.”
Hardware Cat; ChristianOtt.co; Hardware Cat – Interviews with the Skycoin Team; 17.06.2018
6
“The first generation Skyminer hardware configuration consists of: 8 hardware nodes made up of 8 Orange Pi Prime PCB boards.”
Skycoin; Telegram; What is a Skycoin Skyminer; 19.03.2018
7
“The current design of the antenna includes an engine at the bottom and the top, which enables an antenna to move in every possible direction. This allows users to position antennas at several locations.”
Hardware Cat; ChristianOtt.co; Hardware Cat – Interviews with the Skycoin Team; 17.06.2018
8
“its mostly less than 3 or 5 km for most links; 50 km and 500 mbit/second links are expensive; 150 mbit/second and soon 500 mbit /second over 1 to 3 km is doable; with 35 Db gain highly directional antennas; and can be done cheaply”
Synth; Telegram; Skycoin Main Channel; 01.02.2018
9
“Furthermore, we are developing a Skywire router, which will automatically direct all of a user’s network traffic using a VPN, once the router is plugged into the Skyminer.”
Hardware Cat; ChristianOtt.co; Hardware Cat – Interviews with the Skycoin Team; 17.06.2018
10
“The Skycoin hardware wallet will support dozens of alternative coins as well as the ones on Fiber. This is on top of the convenience already provided by Skycoin mobile and desktop wallets.”
Skycoin; Business Whitepaper v1.0; Hardware Wallets; 02.04.2018
Sources – Ecomi
11
“Introducing the Secure Wallet. The smart, secure way to protect your Bitcoin and cryptocurrencies. At the size of a credit card, it offers everyday convenience. The Secure Wallet is a true cold wallet. It never connects directly to the internet, keeping your assets safe from cyber criminals. Using the companion app available for Apple and Android, you can see all your balances at a glance, easily receive and securely send your cryptocurrencies. When sending cryptocurrency out the secure wallet, you must first confirm the amount you are sending, shown on the Secure Wallet display, then physically press the confirmation button to finalize the transaction. The Secure Wallet protects your cryptocurrency with top of the line security. In fact, the Secure Wallet is certified CC EAL5+, the highest security standard for government level deployments. The Secure Wallet protects your Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash, with more currencies continuously added. The Secure Wallet consists of an E-Paper Display for user feedback, a button for power and transaction confirmations, charging LED, charging terminals. Inside the Secure Wallet is a Bluetooth chip for wireless connectivity and the hardware secure element protecting your private keys.”
ECOMI; YouTube; ECOMI Secure Wallet; 24.07.2017
Sources – Solar Bankers
12
“This approach reduces the amount of silicon required in the production process by over 90 % and simultaneously raises the efficiency of the individual PV cell to unmatched levels. Using a holographic film, Solar Bankers’ module is currently able to focus light rays by a factor of 10. Existing technology will increase this figure up to an estimated factor of 30, while the amount of silicon will be reduced further, from 10 % to 5 % of that used in a conventional solar panel. Solar Bankers uses materials that provide a sunlight conversion rate of 28 %, placing it well above standard silicon cells (17 %) and the latest thin-film modules (8 %). In 2011, Solar Bankers was also granted a U.S. patent for a high-concentration refraction module with an integrated inverter. The low production costs and high-efficiency allow rates as low as 65 U.S. cents per Watt, a phenomenal price for solar power.”
Solar Bankers; Official Blog; Taking Solar Power to the next Level – Interview with pv magazine; 19.05.2013
13
“Solar Bankers’ Holographic Module, also referred to as Deflecting Photovoltaic (DPV), is a solar panel designed for high temperature environments that enables higher performance at a lower cost when compared with standard solar modules. … Solar Bankers’ module is up to 30% more efficient than standard panels at high temperatures; Solar Bankers’ DPV module uses only 25% of the silicon used in standard panels (silicon is the most expensive components in solar modules); Solar Bankers’ module is tested by the Fraunhofer Institute and has a proven durability of over 25 years; Solar Bankers’ module implements a highly hydrophobic film that renders its front surface self-cleaning and thus significantly reduces dust/sand deposition, which usually incurs high maintenance costs.”
Solar Bankers; Official Website; Devices; 15.08.2018
14
“Solar Bankers’ Concentrator is intended for use in combination with standard modules to improve their efficiency and achieve greater energy output. The Concentrating Film, referred to by the name ‘Umbrella’, applies the efficiency-maximising technology used in the Holographic Solar Module to existing installations.”
Solar Bankers; Official Website; Devices; 15.08.2018
15
“Solar Bankers Tile is a building component that generates electricity out of sunlight. Similar to our solar module, it consists of a 3-cm thick aluminum box that integrates Solar Bankers’ holographic film and silicon stripes. The tile is mounted on rotating tubes, which follow the apparent motion of the sun to generate electricity throughout the whole day. Solar Bankers tiles can be installed both in vertical and horizontal configurations.”
Solar Bankers; Official Website; Devices; 15.08.2018
16
“Solar Bankers’ Window is a fully transparent window that generates electricity out of sunlight. Solar Bankers’ nano-structured film covers the surface of the window, re-directing a part of the incoming light onto solar cells integrated in the window’s frame for electricity production.”
Solar Bankers; Official Website; Devices; 15.08.2018
17
“Solar Bankers’ Light Recycling Module recycles artificial light and converts it back into electricity, enabling savings of up to 15% on your electricity bill. The device uses Solar Bankers’ holographic film to redirect a part of the light emitted by fluorescent lamps back onto solar cell mounted under the light source to generate additional electricity.”
Solar Bankers; Official Website; The Solar Bankers Node; 15.08.2018
18
“The Solar Bankers Node consists of a solar panel with USB output, a power bank (battery) and a Raspberry Pi. The solar panel feeds energy into the battery, which powers the Raspberry Pi and guarantees 24 h operation.”
Solar Bankers; Official Blog; Solar Bankers Node – How it works; 15.08.2018
Sources – Electrify
19
“The P2P contract platform, Synergy, which will leverage smart contracts to enable trading and settlement between producer and consumer. Synergy will democratise utility-level trading tools, making it available to smaller producers, providing revenue certainty for producers and cost certainty for consumers, thereby substantiating increased bankability for distributed energy assets.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
20
“The ELECTRIFY platform will be enhanced with Synergy, a peer-to-peer (P2P) energy trading platform through the use of smart contract functionality. Synergy aims to democratise the process and allow energy consumers and prosumers to trade power with one another directly. With greater accessibility to tools for trading, more prosumers will be incentivised to install small-scale solar PV or micro wind turbines with greater assurance of a fair return on investment (ROI). Given greater visibility over a better return on investment, project owners will also get better access to financing through traditional channels or P2P financing schemes, driving adoption for decentralised energy resources (DER).”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
21
“Synergy will offer open-source SDKs allowing any distributed energy producer to offer their surplus energy to any consumer. The community can access these options on Marketplace 2.0. … Renewable energy assets can either be embedded within a building (e.g. household solar with partial self-consumption) or a standalone asset (micro wind turbine system that is directly connected to the grid, without a direct load). Both ways, the producer can use ELECTRIFY’s PowerPod that logs power production, allowing the owner to trade it with a consumer on the blockchain. All producers will be required to place a deposit in ELEC tokens throughout the duration of the contract to incentivise honest activity on the network. The amount of ELEC tokens will be proportional to the size of the energy system, typically represented in units of Kilo-watt Peak (kWp).”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
22
“ELECTRIFY has developed a prototype of the PowerPod, an IoT communication device that will read smart meters to log the amount of electricity generated or consumed on the blockchain. This will be used by energy producers to track their energy generation. The distributed ledger will form an immutable record that will substantiate the record of RECs generated and consumed.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
23
“As security and authenticity is crucial in ELECTRIFY’s ecosystem, we will create incentives for all energy producers in the community to uphold integrity and honesty. This also discourages fraud or tampering of hardware. There will be permissioned access, requiring each small energy producer and retailer to place a deposit in the ELEC token to register his/her system with the network. Depositing the required amount of ELEC tokens will allow the producer to write generation data onto the blockchain via the PowerPod.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
24
“PowerPod allows smart metering and monitoring of distributed generation. With a transparent and trust-less method of monitoring, energy asset owners are able to closely monitor their energy production and trade directly with consumers. For consumers, the PowerPod will be an optional device that they can purchase to monitor their energy usage in real time. With real time energy data, consumers will also be able to tell when they use the most amount of power and adjust their usage patterns accordingly.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
25
“In addition, the PowerPod might include functionality to allow consumers to participate in demand response (DR) programmes. DR allows consumers to reduce their power consumption when the grid is undersupplied in order to reduce overall system demand. This is most applicable in cities with lower power reliability. This allows participants to receive revenues from the energy market operator by reducing their loads. DR requires close monitoring and tracking of energy consumption and their adjustable energy amounts. Upon activation of a DR event, consumers require a means of reporting their participation details to the regulatory body and market operator that is auditable and immutable, with a strict requirement for data security and recording. This is where a distributed ledger can be used in ensuring that all DR activities are legitimate and transparent between the participant and the energy market operators.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017

Electrify.Asia

Electrify.Asia
ELECTRIFY.ASIA
02.09.2018
ENERGY MARKETPLACE FOR ASIA
CHRISTIAN OTT
AUTHOR
Introduction
The liberalization of energy markets in Asia is in an ongoing process. Several countries (including China and Japan) have started to deregulate their markets and allow non-state-owned enterprises to enter the space.1,2 The motivation behind that movement is to face the increasing demand of electricity, fight the surging pollution, prevent catastrophes like Fukushima and generally explore new ways to produce energy.3,4 Electrify.Asia aims to expand into this increasingly liberalized space. Equipped with their already operational business Electrify.SG in Singapore, where they provided companies with more than 500 thousand kWh of electricity and therefore helped them save more than a total of 200 thousand US Dollars per year,5 the company held an ICO earlier this year. Their goal is to further develop their business by moving it to the blockchain, where transactions will be fueled by their token ELEC.6
FEATURESELECTRIFY.ASIAMARKETPLACESYNERGYELEC(TOKEN)
Marketplace 2.0
Electrify’s marketplace 2.0 offers consumers and providers the possibility to enter smart contracts with each other. These smart contracts are fully transparent and can be modified based on the preferences of customers and providers, allowing them to negotiate energy usage and fees in the contract.7 The marketplace 2.0 also offers customers the possibility to subscribe to a switching service, that will provide them with the most suitable energy plan and provider. This service is based on an AI engine, that will alter its decisions based on parameters chosen by the customer, such as energy source, price, contract length and usage patterns.8 Moreover, this engine provides energy suppliers with data-driven analytics on customers’ usage patterns.9
MARKETPLACEELECTRIFY.ASIASMARTCONTRACTSSWITCHINGSERVICEDYNAMIC
Synergy
In addition to the marketplace, Electrify offers another platform called Synergy, that enables individuals to trade energy peer-to-peer without the need of middlemen.10,11 It targets distributed small-scale producers who want to sell surplus power, that they have generated through photovoltaic devices, wind turbines, biomass energy generators or others.12,13 To support both providers and consumers, Electrify has developed their own IoT smart device “PowerPod”, that offers different features.14 For energy providers, it can monitor and log the amount of electricity generated and write it onto a blockchain.15,16 For consumers, it can serve as a monitor to track how much energy was consumed.17 Additionally, PowerPod might include a functionality for consumers to participate in demand response programs, where they can reduce their power consumption in case the grid is undersupplied.18
SYNERGYELECTRIFY.ASIAPOWERPODTRANSFERENERGYLOGGED ONBLOCKCHAIN
Token and Platform
Electrify.Asia’s token ELEC runs on top of Ethereum. The ERC-20 token has a total supply of 750 million, of which 447 million ELEC are currently in circulation.19 Being a utility token, ELEC is used as a currency in Electrify’s applications Marketplace 2.0 and Synergy. It can therefore be used to access the platform, create smart contracts or pay for services.20 Since Electrify plans to regularly log numerous transactions on a blockchain within their platforms Marketplace 2.0 and Synergy, they were looking for a blockchain with higher scalability than Ethereum in its current state. Under this premise they teamed up with OmiseGo, who are building Plasma. Plasma is a scaling solution that uses child chains reporting to root chains to increase transaction throughput.21 In addition to Plasma as the underlying scaling solution for blockchain procedures, Electrify.Asia also aims to use the eWallet (originally developed by OmiseGo) to facilitate payments for energy usage for their customers.22
PLATFORMELECTRIFY.ASIAEWALLETOMISEGOPLASMA
Partnerships
Since Electrify will be mostly active in Asia, the company partnered up with a couple of Asian companies/institutions located in the energy sector. Beginning with their most prominent partnership, Electrify.Asia teamed up with TEPCO, which is the largest electric utility in Japan. Together, they aim to develop a proof-of-concept for Electrify’s platform Synergy in Singapore. After that, an implementation of the platform could follow in Japan.23 Thanks to another partnership with a Japanese electric utility, Electrify.Asia could enter the Japanese market even earlier. Together with Japan’s TAKE Energy Corporation (TEC), they want to deploy Synergy in Japan’s Kyushu region.24 Furthermore, Electrify’s partnerships are not only tied to Japan, they also cooperate with Chinese company Narada, who are working in the field of energy storage. Collectively, they aim to deploy Electrify’s PowerPod technology alongside Narada’s energy storage platforms.25 Heading over to Singapore, Electrify will join forces with the Solar Research Energy Institute of Singapore (SERIS) to perform further research and development on (1) photovoltaic-related technology for distributed power generation and (2) energy management and trading with blockchain technology.26 In addition to these cooperations in Asia, Electrify entered a partnership with Swiss company Streamr, who are building a crypto-powered marketplace for real-time data. Owners of Electrify’s PowerPod will be able to sell their data logged by the device through Streamr’s marketplace.27
Wrap-up
Electrify.Asia aims to expand their already operational business in Singapore into the increasingly liberalized Asian markets for energy providers and retailers. They offer a platform for energy consumers and suppliers, where both can trade energy peer-to-peer through the use of smart contracts. In addition to that, they developed a hardware device called PowerPod, that serves as a monitor for energy generated and consumed. Electrify’s utility token ELEC serves as a payment method within their platform and is currently an ERC-20 token. However, in the long-term they aim to use Plasma, developed by OmiseGo, to facilitate a higher transaction throughput. Looking at partnerships, Electrify has teamed up with several Asian companies in the energy field, such as TEPCO, NARADA and TEC alongside a cooperation with Streamr.

Sources – Asian Energy Markets
1
“Countries across the region such as Japan, South Korea, Taiwan, Malaysia, Thailand, Philippines and Singapore have opted for market deregulation in a bid to create sustainability. Malaysia has introduced deregulation to its gas and power sector and has paved the way for the introduction of Independent Power Producers (IPPs) to the supply function of the sector, helping the government to reduce the costs and administration involved in the exploration of new natural gas fields. Thailand, as a part of International Monetary Fund and World Bank recommendations, unbundled the Electricity Generating Authority (EGAT) assets and introduced laws for market deregulation. Since 2010, it offers new financial products that target huge market capitalisation. The Philippines’s Energy Regulatory Commission facilitated the privatisation of the National Power Corporation which worked very well in the urban centres, with fully liberated markets benefitting urban consumers. However, providing services to rural markets competitively remains a challenge.”
Engerati; Official Website; Energy deregulation: Transforming Asia’s energy sector; 06.04.2017
2
“There are still social, political and geographical barriers that the Asian region is faced with when it comes to deregulation in the power sector. The sector, many dominated in the region by the presence of state owned enterprises (SOE), is often protected by rigid state policies on service institutions and market structures, explains Venkatachalam. The monopoly of SOEs in energy production and distribution and outdated legislation make deregulation impossible in many countries. The presence of pervasive fuel subsidies and other cross subsidies to power generation stand in the way of competitive market development.”
Engerati; Official Website; Energy deregulation: Transforming Asia’s energy sector; 06.04.2017
3
“Japan is aiming for a complete deregulation of its retail market by 2017 with reforms in electricity and gas markets. The Fukushima event was the main driver of the energy policy being revisited. Japan initiated its electricity market deregulation process last year April and it is steadily becoming one of the world’s largest deregulated electricity markets. If successful, the change could result in a vastly modernised energy sector resulting in lower rates and a more prosperous economy overall. The deregulation could see Japan advance innovation and even become a model for the Asian region.”
Engerati; Official Website; Energy deregulation: Transforming Asia’s energy sector; 06.04.2017
4
“Pollution and overcapacity is China’s reason for market deregulation. Pollution is a major driving force behind China’s reform as cheap coal and overcapacity encourage wasteful consumption patterns. This stands in the way of the government’s efforts to improve energy efficiency and cut pollution. China’s large scale investments in wind and solar energy are being under-utilised under the current system, which is too static to effectively incorporate fluctuating green energy generation rates, resulting in waste and the threat of power cuts. The country is a big energy consumer, representing 25% of the world’s energy consumption. Electricity distribution and transmission are critical to China’s growing economy.”
Engerati; Official Website; Energy deregulation: Transforming Asia’s energy sector; 06.04.2017
Sources – Electrify in General
5
“ELECTRIFY.SG has helped companies buy more than 500,000 kWh of electricity, saving Singapore businesses more than $200,000 per year.”
Electrify.SG; Official Website; 26.08.2018
6
“ELECTRIFY will leverage blockchain technology to facilitate the transition from a marketplace into a decentralised energy exchange. We do this through creating open-source smart contracts for anyone to create a retail electricity smart contract or a peer-to-peer trading contract. All energy contracts will be hosted in Marketplace 2.0 that will provide convenience to consumers to compare and contract with an energy provider, addressing the issue of transparency and accessibility. The main difference between a retailer electricity contract and a P2P contract is that the retail electricity contract allows anyone to provide an electricity contract to any consumer without owning physical assets while the P2P contract caters to distributed energy resource asset owners, allowing them to trade surplus power with any consumer.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
Sources – Marketplace 2.0
7
“Marketplace 2.0 will serve as the main consumer interface (web + mobile) allowing individuals to enter into energy smart contracts with their energy providers, whether it is a commercial retailer or a prosumer. Through the use of smart contracts, we provide a means of entering into an electricity contract that is secured on a blockchain. Distributed ledger technology allows every participant to have an identical copy of their contract details, monthly or periodic (for time-based contracts) energy usage, settlement details and energy fees that are payable to the supplier. This ensures that all stakeholders can transact in a trust-less manner, reducing time and cost of contract monitoring. Energy smart contracts will help energy providers reduce overheads in contract execution and enacting transaction, allowing savings to be passed on to the consumer.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
8
“Energy consumers will also be able to subscribe to ELECTRIFY’s intelligent switching service that will employ artificial intelligence to recommend the most suitable energy plan and provider. Based on the consumer’s parameters and preferences (such as energy source, price, contract length, usage patterns), the AI engine will take inputs from available P2P contracts (via Synergy) and retail electricity plans to provide an optimal recommendation to the user.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
9
“As countries across the region, such as Japan, the Philippines, China and Singapore move toward market deregulation, ELECTRIFY will support this transformation by empowering individuals and improving transparency across the electricity value chain. ELECTRIFY’s price-discovery and intelligence platforms offer consumers more choices while providing energy providers (electricity retailers and small-scale producers) with data-driven analytics on customers’ usage patterns.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
Sources – Synergy
10
“The P2P contract platform, Synergy, which will leverage smart contracts to enable trading and settlement between producer and consumer. Synergy will democratise utility-level trading tools, making it available to smaller producers, providing revenue certainty for producers and cost certainty for consumers, thereby substantiating increased bankability for distributed energy assets.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
11
“The ELECTRIFY platform will be enhanced with Synergy, a peer-to-peer (P2P) energy trading platform through the use of smart contract functionality. Synergy aims to democratise the process and allow energy consumers and prosumers to trade power with one another directly. With greater accessibility to tools for trading, more prosumers will be incentivised to install small-scale solar PV or micro wind turbines with greater assurance of a fair return on investment (ROI). Given greater visibility over a better return on investment, project owners will also get better access to financing through traditional channels or P2P financing schemes, driving adoption for decentralised energy resources (DER).”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
12
“ELECTRIFY will bring these tools, currently available only to large corporations, to an accessible level for the masses. Synergy software development kits (SDK) are designed for deregulated electricity markets with an underlying wholesale electricity market mechanism, allowing peer-to-peer trading of energy lots. The platform allows distributed energy producersiii (such as solar, wind, biomass, and even spare diesel generators) to sell surplus power to consumers connected to the national electricity. Having a solution compatible with major cities is expected to be more scalable with greater adoption across the community.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
13
“Through Synergy, individual energy producers will be able to register and list their surplus energy onto Marketplace 2.0 platform, allowing them to trade with other small-scale energy producers. By dealing directly with the off-taker, producers get better financial returns. Our solutions are also built to accommodate major settlement structures in different jurisdictions. In some jurisdictions, it may be required for ELECTRIFY to register or partner with a retailer entity to execute P2P trades.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
14
“Synergy will offer open-source SDKs allowing any distributed energy producer to offer their surplus energy to any consumer. The community can access these options on Marketplace 2.0. … Renewable energy assets can either be embedded within a building (e.g. household solar with partial self-consumption) or a standalone asset (micro wind turbine system that is directly connected to the grid, without a direct load). Both ways, the producer can use ELECTRIFY’s PowerPod that logs power production, allowing the owner to trade it with a consumer on the blockchain. All producers will be required to place a deposit in ELEC tokens throughout the duration of the contract to incentivise honest activity on the network. The amount of ELEC tokens will be proportional to the size of the energy system, typically represented in units of Kilo-watt Peak (kWp).”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
Sources – PowerPod
15
“ELECTRIFY has developed a prototype of the PowerPod, an IoT communication device that will read smart meters to log the amount of electricity generated or consumed on the blockchain. This will be used by energy producers to track their energy generation. The distributed ledger will form an immutable record that will substantiate the record of RECs generated and consumed.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
16
“As security and authenticity is crucial in ELECTRIFY’s ecosystem, we will create incentives for all energy producers in the community to uphold integrity and honesty. This also discourages fraud or tampering of hardware. There will be permissioned access, requiring each small energy producer and retailer to place a deposit in the ELEC token to register his/her system with the network. Depositing the required amount of ELEC tokens will allow the producer to write generation data onto the blockchain via the PowerPod.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
17
“PowerPod allows smart metering and monitoring of distributed generation. With a transparent and trust-less method of monitoring, energy asset owners are able to closely monitor their energy production and trade directly with consumers. For consumers, the PowerPod will be an optional device that they can purchase to monitor their energy usage in real time. With real time energy data, consumers will also be able to tell when they use the most amount of power and adjust their usage patterns accordingly.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
18
“In addition, the PowerPod might include functionality to allow consumers to participate in demand response (DR) programmes. DR allows consumers to reduce their power consumption when the grid is undersupplied in order to reduce overall system demand. This is most applicable in cities with lower power reliability. This allows participants to receive revenues from the energy market operator by reducing their loads. DR requires close monitoring and tracking of energy consumption and their adjustable energy amounts. Upon activation of a DR event, consumers require a means of reporting their participation details to the regulatory body and market operator that is auditable and immutable, with a strict requirement for data security and recording. This is where a distributed ledger can be used in ensuring that all DR activities are legitimate and transparent between the participant and the energy market operators.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
Sources – Token & Platform
19
“Circulating Supply: 447,849,572 ELEC; Total Supply: 750,000,000 ELEC”
CoinMarketCap; Official Website; ELEC Token page; 01.09.2018
20
“Now, where does ELEC come in? The ELEC token is the lifeblood of Synergy. It is what gives producers and prosumers access rights to our blockchain platform; it allows them to place deposits and pay transaction fees. … As a utility token, ELEC allows producers and prosumers to create smart contracts and offer energy plans to consumers. To do so, they must first place a deposit of 200 ELEC per kWp (kilowatt-peak). The deposit, which will be refunded upon withdrawal from the ecosystem, serves as a mechanism to disincentivize malicious behaviour on our platform. For example, any tampering with our PowerPod IoT device to doctor information will lead to the slashing of one’s deposit.”
Electrify.Asia; Official Blog; Tokenomics; 15.08.2018
21
“Plasma is a blockchain scaling solution designed by Joseph Poon and Vitalik Buterin that uses child chains reporting to root chains (i.e. Ethereum) to increase transaction throughput without any of the safety concerns that usually come with using smaller chains. The OMG (OmiseGO) decentralized exchange was designed in anticipation of Plasma. We’ll utilize Plasma to support a scalable, fully on-chain exchange without sacrificing security. In this piece I’m going to describe how we’re building Plasma.”
David Knott (on OmiseGO Network); Medium; Construction of a Plasma Chain 0x1; 16.01.2018
22
“All recurring electricity payments will be done via ELECTRIFY’s eWallet from consumers to energy providers. ELECTRIFY will receive a transaction fee from energy providers. With the use of OmiseGO’s wallet technology, the transaction fee charged to energy providers is expected to be significantly lower than the rate that producers pay the banks or card schemes today. We currently estimate that transaction fees will be less than 1% of transaction value. A portion of this fee will be returned to consumers to reward them for their loyalty, according to a tiered table that incentivises long-term usage and ownership of ELEC.”
Electrify.Asia; Official Website; Technical Whitepaper; 10.12.2017
Sources – Partnerships
23
“The team stands proud alongside the Tribe to announce that Electrify has signed a Memorandum of Understanding with TEPCO, the largest electric utility in Japan (4th largest in the world), with operations spanning from electricity generation to retail and distribution. Our partnership with TEPCO involves co-developing a Proof-of-Concept (POC) for our P2P energy trading platform, Synergy, in Singapore. Following that, an implementation of Synergy’s architecture in the Japanese market beckons. There are no heroic moments to recount. There are only intents and outcomes. We set off with the intent to establish presence in the Japanese market, and we are now a step closer to realising that as an outcome.”
Electrify.Asia; Medium; Befriending Goliath; 13.04.2018
24
“Earlier this month, Japan’s TAKE Energy Corporation (TEC) entered into a partnership agreement with ELECTRIFY to deploy our peer-to-peer trading platform SYNERGY together with our PowerPods in Japan’s Kyushu region. Consumers in Kyushu will soon be able to trade excess solar energy from the region’s solar farms with the ease-of-use, transparency, and security provided by ELECTRIFY’s blockchain platform. … Following the partnership with TEPCO, Japan’s largest utility company, signed in April this year, ELECTRIFY is well-positioned for expansion into Japan in the later half of the year. Both agreements now cover two out of eight regions in Japan including the metropolis of Tokyo, and potentially serve over a third of the Japanese population across central and southwestern Japan. This collaboration is also in line with Japanese policy goals of increasing the country’s solar and overall renewable energy use.”
Electrify.Asia; Medium; Japan’s TAKE Energy Corporation Brings ELECTRIFY’s SYNERGY Platform and PowerPod to Kyushu; 25.06.2018
25
“We’re thrilled to share with you today that Electrify has entered into a partnership agreement with Narada to roll out our PowerPod solution with their network across APAC. In an agreement signed with the South East Asia arm of China’s publicly listed Zhejiang Narada Power Source Co Ltd, Narada will leverage Electrify’s technology to enable traceability, real-time trading, and optimization of distributed energy storage assets across its operations in APAC, with a view to deploying solutions in Singapore, Australia, Japan, and Cambodia in 2018. Under the terms of the partnership, Electrify will deploy its PowerPod technology alongside Narada’s energy storage platforms. … Headquartered in Hangzhou, China, Narada boasted the world’s second largest energy storage capacity in 2017, according to Bloomberg with gross revenue in excess of US$1.376 billion from the 150 countries it operates in globally.”
Electrify.Asia; Medium; China’s Narada partners with Electrify to roll out Smart Electricity Solutions across APAC; 01.06.2018
26
“To this end, Electrify and the National University of Singapore (NUS), acting through its Solar Research Energy Institute of Singapore (SERIS), have formalised their intention in a Memorandum of Understanding to pursue collaborative research and development into:
(i) PV-related technology for distributed power generation and,
(ii) energy management and trading with blockchain technology.
SERIS is Singapore’s national institute for applied solar energy research, funded by Singapore’s National Research Foundation (NRF), Singapore Economic Development Board (EDB), and NUS.”
Electrify.Asia; Official Blog; Working on Research and Development; 20.04.2018
27
“To bring greater value and choice to users, Electrify is developing a smart contract-driven energy marketplace across Asia. This ecosystem includes the deployment of their proprietary IoT device, the PowerPod, which accurately tracks and audits production from small-scale energy producers before logging the data onto a blockchain, a key factor in P2P energy trading. The resulting data generated from PowerPod devices can potentially contribute to maintaining grid intelligence and stability, as well as provide edge data for other companies to access. In a few months, Electrify.Asia users will be able to sell their data through Streamr’s Marketplace to scores of potential subscribers around the world such as research institutes, private companies and the grid operators themselves.”
Streamr; Medium; News: Electrify & Streamr partner to give users control over their data; 29.03.2018

Solar Bankers

Solar Bankers
SOLAR BANKERS
15.08.2018
EQUIPPING ENERGY PROSUMERS
CHRISTIAN OTT
AUTHOR
Introduction
Since 2017, we saw numerous companies from the electricity/energy sector entering the blockchain and cryptocurrency space. Some of them are well-known like Power Ledger, Electrify.Asia, WePower or SunContract, while other companies are still flying under the radar like SolarBankers, Pylon, KWHCoin or Irene Energy. Most of these companies have their vision of a decentralized energy trading marketplace in common, but the scope of each project differs from the others nonetheless. With the world-wide energy market having a size of multiple trillion US Dollars,1,2 there should be enough space for all of these projects. In my new section “Energy”, I will present you articles about multiple energy companies in the cryptocurrency space. The first one is about Solar Bankers, who have won the community voting on my Twitter page.

What is Solar Bankers?
Solar Bankers is a Singapore-based company that was founded in 2008.3,4 Prior to its initial coin offering in late 2017, the company spent multiple years on the research and development of photovoltaic (solar) modules. They have developed an innovative photovoltaic solution, that is highly competitive due to its cost-efficient and high-performing technology, on which they hold international patents for.5,6 They also aim to pair this technology with smart meters,7 to enable customers to produce and consume energy in a decentralized fashion through their energy trading app, which will use their token SLB as their application currency.8
FEATURESSOLAR BANKERSENERGYDEVICESTRADINGAPPOWNTOKENSLB
Solar Module
Let us go more into detail on what Solar Bankers is doing, starting off with their energy-producing devices. As the company name already implies, Solar Bankers is focused on solar technology, for which they offer a variety of devices. Their flagship product is their solar panel DPV (Deflecting Photovoltaic). It is designed to endure high temperatures and is therefore 30% more efficient than standard solar modules. Core elements of DPV are the use of a holographic foil in combination with the use of a significantly lower amount of silicon than in regular solar modules, which makes its production costs 50% less expensive in comparison. Its maintenance costs are reduced as well, by using a self-cleaning surface, that reduces the amount of dust/sand on the module. Its durability is proven to be over 25 years.9,10
DPVDEFLECTING PHOTOVOLTAICCOSTEFFICIENTENDURESHIGH TEMP.YEARSDURABILITY25+
Other Devices
In addition to DPV, Solar Bankers offers five other physical products. The first one is a concentrator called ‘Umbrella’, which offers a concentrating film that can be placed above standard solar modules to improve their efficiency.11 The second product in this list is an energy generating solar tile, which can be mounted on rotating cubes that follow the motion of the sun to generate as much electricity as possible.12 The third product is an energy generating solar window, which is covered by a fully transparent, nano-structured film, that redirects a part of the incoming light onto solar cells, which are integrated in the window’s frame.13 Product number four is a light recycling module, that recycles artificial light and converts it back into electricity by using a holographic film that redirects a part of the light onto mounted solar cells.14 The fifth and latest addition to this series of products is the Solar Bankers Node, that consists of a solar panel, a battery and a Raspberry Pi, enabling the device to run on solar power only.15
DEVICESENERGY GENERATINGSOLARWINDOWSOLARTILELIGHTRECYCLINGUMBRELLADPVSOLAR NODE
Renewable Energy Blockchain
With their solar nodes, Solar Bankers aims to establish a blockchain powered by renewable energy. The project operates on its own blockchain on top of Skycoin Fiber. It is therefore capable to perform 300 transactions per second and incentivizes tokenholders with a parallel currency called SLB hours (each SLB receives 1 SLB hour per hour). These SLB hours can be used to pay transaction fees, which makes transactions on the Solar Bankers network basically free. Once enabled to be transferred independently, the SLB hours might also offer other use cases in the future.16 The Solar Bankers node itself acts as a peer node in the network and rewards operators initially with an amount of 0.4 SLB per hour.17,18
BLOCKCHAINRENEWABLE ENERGYOWNBLOCKCHAINZEROFEES300+TPS
Partnerships
Over the last two years, Solar Bankers has secured partnerships all over the world. In March 2017, the company signed a joint-venture agreement with US Clean Technologies (USCET), to develop a hologram-based technology, that is projected to generate up to 300% more electricity compared to standard fixed systems.19 In July 2017, the team kicked off a pilot project in Dubai together with the Dubai Electricity and Water Authority (DEWA) to do performance testing of their devices in a high temperature environment.20 In December 2017, Solar Bankers has made an offtake agreement together with a Swiss partner company for a Lithium mine in Mongolia. The extracted resources from that mine shall be used to promote innovation in battery solutions for solar energy.21 In March 2018, the Solar Bankers team kicked off a microgrid pilot project in Turkey in cooperation with Turkish company Enerclever to equip an area of 15 buildings with their solar devices and Enerclever’s smart meters.22,23 In June 2018, the team announced their latest project, in which they aim to power 70 thousand households in Nigeria in an initiative financed by the World Bank.24
Wrap-up
Having developed and patented innovative solutions in the solar modules market, Solar Bankers is one of the few companies in the cryptocurrency space, that is backed by several physical assets. They offer a variety of products including different energy generating devices as well as a performance increasing concentrator. Together with a smart meter (that is currently provided by a third party), their energy trading app and their own token SLB, Solar Bankers offers customers all necessary products to provide and consume energy. They also address the problem of major cryptocurrencies wasting huge amounts of energy due to their consensus algorithm proof-of-work and aim to provide a blockchain powered by renewable energy. On top of all this, they have secured partnerships all over the world and kicked off pilot projects in Turkey and Dubai. The first mass usage of Solar Bankers’ devices will happen in Nigeria, where they will provide 70 thousand households with renewable energy.

Sources – Energy Market
1
“A cumulative $44 trillion in investment is needed in global energy supply in our main scenario, 60% of which goes to oil, gas and coal extraction and supply, including power plants using these fuels, and nearly 20% to renewable energies. An extra $23 trillion is required for improvements in energy efficiency.”
International Energy Agency; Official Website; World Energy Outlook 2016: Executive Summary; 2016
2
“For 2016, the global advanced energy market surpassed $1.4 trillion in 2016, a 7% increase compared to an updated 2015 total of $1.3 trillion.”
Advanced Energy Economy; Official Website; Market Report Shows Record $1.4 Trillion Global, $200 Billion U.S. Revenue for Advanced Energy and Highlights Five Trends Shaping the Future; March 2017
Sources – General Information about Solar Bankers
3
“2008: Company Foundation”
Solar Bankers; Official Website; Project Timeline; 08.08.2018
4
“Solar Bankers (legal name Solar Nanotech PT LTD) is registered with MAS in Singapore.”
Solar Bankers; Telegram; Channel: Solar Bankers (SLB); 24.12.2017
5
“The Arizona-based Solar Bankers LLC and its Dresden-based affiliate Apollon GmbH & Co. KG have commonly developed a game-changing module technology that will impact the entire solar industry. A prototype of the high-efficiency concentrated solar module composed of a silicon cell and a holographic foil is now finished. The new innovative module has already been patented in the US. It is ready to be produced at values defying today’s market prices while generating twice as more energy as regular solar modules. Thanks to its patented technology, production costs for this solar module are even significantly lower as other manufacturers including Chinese ones. Reaching parity with fossil fuel energy prices is now reality.”
Solar Bankers; Official Blog; Game-Changing Innovation for the Solar Industry; 31.03.2013
6
“Solar Bankers’ proprietary solution addresses the major downsides that make today’s photovoltaic technologies unprofitable. These disadvantages mainly arise from the high relative costs of the core raw material, silicon, as well as losses of efficiency caused by unsolved design challenges (e.g. cell spacing and shadows). Solar Bankers uses a unique concentrated technology that focuses incoming light rays to overcome these obstacles.”
Solar Bankers; Official Blog; Taking Solar Power to the next Level – Interview with pv magazine; 19.05.2013
7
“The distribution of electricity is regulated by Solar Bankers’ smart meters. These are devices that record the production and consumption of energy within a particular nucleus (house, building, solar park etc) and distribute the energy among the different nodes within the network.”
Solar Bankers; Official Website; Whitepaper; 2017
8
“Solar Bankers’ answer is to develop a global network of self-sufficient, decentralised, renewable energy communities. These communities come together in SunChain, the Solar Bankers energy network where energy producers and consumers use Solar Bankers coin to buy and sell renewably generated electricity. In Solar Bankers’ distributed energy system, consumers generate electricity in their homes using Solar Bankers’ photovoltaic products. They can then trade their energy with other members of their energy community through localized smart grids. Members of the pool use Solar Bankers coin to either purchase Solar Bankers’ energy-generating technology with the intent of generating their own energy, or they can use the coins to buy clean electricity. In any given community, some members will choose to actively produce clean energy and sell any excess to the network, whilst others will choose to act solely as consumers buying clean, locally produced energy.”
Solar Bankers; Official Website; Whitepaper; 2017
Sources – DPV
9
“This approach reduces the amount of silicon required in the production process by over 90 % and simultaneously raises the efficiency of the individual PV cell to unmatched levels. Using a holographic film, Solar Bankers’ module is currently able to focus light rays by a factor of 10. Existing technology will increase this figure up to an estimated factor of 30, while the amount of silicon will be reduced further, from 10 % to 5 % of that used in a conventional solar panel. Solar Bankers uses materials that provide a sunlight conversion rate of 28 %, placing it well above standard silicon cells (17 %) and the latest thin-film modules (8 %). In 2011, Solar Bankers was also granted a U.S. patent for a high-concentration refraction module with an integrated inverter. The low production costs and high-efficiency allow rates as low as 65 U.S. cents per Watt, a phenomenal price for solar power.”
Solar Bankers; Official Blog; Taking Solar Power to the next Level – Interview with pv magazine; 19.05.2013
10
“Solar Bankers’ Holographic Module, also referred to as Deflecting Photovoltaic (DPV), is a solar panel designed for high temperature environments that enables higher performance at a lower cost when compared with standard solar modules. … Solar Bankers’ module is up to 30% more efficient than standard panels at high temperatures; Solar Bankers’ DPV module uses only 25% of the silicon used in standard panels (silicon is the most expensive components in solar modules); Solar Bankers’ module is tested by the Fraunhofer Institute and has a proven durability of over 25 years; Solar Bankers’ module implements a highly hydrophobic film that renders its front surface self-cleaning and thus significantly reduces dust/sand deposition, which usually incurs high maintenance costs.”
Solar Bankers; Official Website; Devices; 15.08.2018
Sources – Devices
11
“Solar Bankers’ Concentrator is intended for use in combination with standard modules to improve their efficiency and achieve greater energy output. The Concentrating Film, referred to by the name ‘Umbrella’, applies the efficiency-maximising technology used in the Holographic Solar Module to existing installations.”
Solar Bankers; Official Website; Devices; 15.08.2018
12
“Solar Bankers Tile is a building component that generates electricity out of sunlight. Similar to our solar module, it consists of a 3-cm thick aluminum box that integrates Solar Bankers’ holographic film and silicon stripes. The tile is mounted on rotating tubes, which follow the apparent motion of the sun to generate electricity throughout the whole day. Solar Bankers tiles can be installed both in vertical and horizontal configurations.”
Solar Bankers; Official Website; Devices; 15.08.2018
13
“Solar Bankers’ Window is a fully transparent window that generates electricity out of sunlight. Solar Bankers’ nano-structured film covers the surface of the window, re-directing a part of the incoming light onto solar cells integrated in the window’s frame for electricity production.”
Solar Bankers; Official Website; Devices; 15.08.2018
14
“Solar Bankers’ Light Recycling Module recycles artificial light and converts it back into electricity, enabling savings of up to 15% on your electricity bill. The device uses Solar Bankers’ holographic film to redirect a part of the light emitted by fluorescent lamps back onto solar cell mounted under the light source to generate additional electricity.”
Solar Bankers; Official Website; The Solar Bankers Node; 15.08.2018
15
“The Solar Bankers Node consists of a solar panel with USB output, a power bank (battery) and a Raspberry Pi. The solar panel feeds energy into the battery, which powers the Raspberry Pi and guarantees 24 h operation.”
Solar Bankers; Official Blog; Solar Bankers Node – How it works; 15.08.2018
Sources – Blockchain
16
For more information about Skycoin Fiber, please refer to my article “Skycoin Fiber – Blockchain Platform for Applications” in the Skycoin section on my site.
Christian Ott; 15.08.2018
17
“The Solar Bankers Node supports the company’s blockchain network. Users running the Solar Bankers Node receive a fixed amount of SLB per hour. The reward is initially set at 0.4 SLB/hour and might change over time as more Solar Bankers Nodes are distributed.”
Solar Bankers; Official Website; The Solar Bankers Node; 15.08.2018
18
“They are peer nodes. The idea is to incentivize the use of renewable energy and to show that a blockchain network can operate with little to no environmental impact.”
Solar Bankers; Telegram; Channel: Solar Bankers (SLB); 07.06.2018
Sources – Partnerships
19
“Solar Bankers and US Clean Technologies Inc. signed today a Joint-Venture Agreement to market a revolutionary solar technology that promises to decrease the cost of solar energy by more than 50% compared to standard fixed systems. Solar Bankers and US Clean Technologies (USCET), an American company located in Burr Ridge, IL and with subsidiaries in Sharjah, UAE, will be working closely to develop a hologram-based technology that is projected to generate up to 300% more electricity compared to standard fixed systems.”
Solar Bankers; Official Blog; Solar Bankers signs a Joint-Venture Agreement with US Clean Technologies Inc.; 21.03.2017
20
“Solar Bankers is delivering its hologram-based solar concentrator module to DEWA for performance testing in a high-temperature environment. In April, Solar Bankers was selected to participate in the Dubai Future Accelerators program (www.dubaifutureaccelerators.com/en) and spent 9 weeks working closely with other developers of emergent technologies from around the globe. At the end of the program, Solar Bankers signed a contract with DEWA for a test pilot in Dubai. In addition to Solar Bankers’ patented refractive foil, the modules to be tested with DEWA feature a smart tracking system which makes use of a circular pivot to minimize the amount of moving elements required for adjusting module positions. This has particular benefits in desert environments, where dust and sand dispersed in the air quickly accumulate in the joints between moving parts and thus substantially reduce the durability of the tracking system. Solar Bankers is partnering with Mulk Holdings for the integration of the smart tracking system in its panel design.”
Solar Bankers; Official Blog; Solar Bankers kicks off its pilot project with the Dubai Electricity and Water Authority; 07.08.2017
21
“Solar Bankers has secured offtake rights for a large reserve of lithium in Mongolia together with a Swiss partner company. Lithium is a highly demanded precious metal with a wide range of uses and applications, most prominently in the production of batteries and other electronic devices. Lithium has gained importance in the renewable energy sector due to its central role in the development of on-site energy storage solutions and electric vehicles. The mining rights pertain to a mine located in Southern Mongolia with estimated total reserves of more than 5 million tons. The quality and concentration of lithium in the area has been tested and confirmed by SGS, a world-leading inspection and certification company from Switzerland. Solar Bankers, whose current project seeks to connect households in P2P energy marketplaces with the help of the company’s patented high-efficiency solar module, hope to use the extracted resources to promote innovation in battery solutions for solar energy.”
Solar Bankers; Official Blog; Solar Bankers Secures Lithium Mining Rights in Mongolia; 08.12.2017
22
“Solar Bankers is happy to announce its partnership with the Turkish energy consultancy Enerclever for a pilot project of Solar Bankers’ concept for localised P2P energy trading. The two companies plan to equip 20 households with Solar Bankers’ light-managing PV devices and connect them in a local micro-grid using the smart meter infrastructure and wiring provided by Enerclever. The smart meters will facilitate the labelling and exchange of electricity produced by individual households.”
Solar Bankers; Official Blog; Solar Bankers to partner with Enerclever over P2P Energy Trading Platform development; 22.12.2017
23
“The project will be based in the Izmir TechnoPark, on the campus of the Izmir Institute of Technology. The TechnoPark is located 50 km outside of the city of Izmir. … The area lists 15 main buildings, which will be organized in 9 units, each one representing a node of the network (see picture below). The nodes will be connected with underground cables, which will allow the transmission of electricity. … Some nodes will be equipped with Solar Bankers solar devices to enable energy productions. Others will be kept passive. Each building will be equipped with Enerclever smart-meters, which will enable monitoring of electricity production/consumption. Data will be fed to Solar Bankers trading platform, which will manage the exchange of energy. Transactions will be stored on SunCoin blockchain.”
Solar Bankers; Official Blog; Solar Bankers kicks off pilot project in Turkey; 01.03.2018
24
“While the majority of us in the Western developed world live with access to power 24 hours a day, more than half a billion people in Africa live without access to electricity. Now, in an initiative financed by the World Bank, US-based energy firm Solar Bankers is using a Blockchain to power 70,000 Nigerian households. In the sub-Saharan continent of Africa, nearly 600,000 people are without a reliable means of electricity, and more than 55 percent of residents living in outlying rural areas do not have access to an electric grid, according to data compiled by the World Resources Institute.”
Solar Bankers; Official Blog; Solar Bankers, US Blockchain-Based Firm, Powers 70,000 Nigerian Households; 20.07.2018

COB Token

COB Token Introduction to the COB Token by Christian Ott
COB TOKEN
24.07.2018
UTILITY, FEATURES, BENEFITS
CHRISTIAN OTT
AUTHOR
Introduction
In September and October 2017 Taiwan-based company Cobinhood held an ICO to crowdfund their exchange.1,2 Alongside many features such as margin trading, fiat deposits and withdrawals as well as advanced security measures, their unique selling proposition was to build an exchange without trading fees for regular (non-margin) trades. Investors in the ICO received the COB token in exchange for their investment, which has been one of the most traded assets on their platform ever since. As an exchange token, COB has several utilities, which I will portray in this article.

COB Token Basics
Let us start with the basics. The COB token has a total supply of 1 billion, of which 367 million COB are currently in circulation.3 According to CoinMarketCap, the market cap of the COB token has been hovering around 10-30 million USD for the past four months, after it went up to an all-time high of 520 million US Dollars on January 10. Being an ERC-20 token, it is based on Ethereum. Since Cobinhood wants to evolve from a centralized to a decentralized exchange4 the COB token will be bridged onto a block lattice via an interchain protocol in the future,5 that is currently developed by the DEXON foundation.6
BASICSCOB TOKENMILLION COBCIRCULATINGERC-20TOKENMILLION USDMARKET CAP36720
Airdrops
As a COB token holder you are eligible to receive two types of airdrops on the platform. The first option available is called ‘Airdrop-Lite’. Some tokens that get listed on Cobinhood exchange agree to airdrop a percentage of their supply to COB token holders. The amount of airdropped tokens depends on whether you have over 10k, over 30k or over 50k COB in your account. The distribution is based on the “first come first serve” principle, meaning you have to be quick to claim your airdropped tokens, since there are only limited spots available. Cobinhood exchange already airdropped 11 different tokens to COB token holders (Lympo, LALA World, Dent, SyncFab, Playcoin, FuzeX, Achain, Hoqu, Universa, Bitcomo, Luna).7 The US Dollar equivalent of the amount distributed varied, but has once even been up to 100 US Dollars per token holder that claimed the airdrop.

The second type of airdrops on Cobinhood are airdrops of their underwritten ICOs.8,9 Cobinhood has already held one successful ICO for Cybermiles, where they raised 84,146 ETH.10 After the ICO from January 5 onwards, Cobinhood token holders were eligible to redeem 1 COB for an amount of CMT tokens, that rose proportional to the amount of COB held by an individual. Per every 500 COB you held on Cobinhood exchange on January 5th, 2018 (at 00:00 UTC+0), you were eligible to receive 23.25 CMT, which equals a percentage of 4.6% CMT per COB. I would estimate, that 10 million CMT were distributed in that airdrop, which would be 1% of CMT’s total supply and was around 4 million US Dollars at the start of the airdrop.11
AIRDROPSCOB TOKENAIRDROP LITEICO AIRDROP
Discounts
By holding COB tokens on Cobinhood exchange token holders can also enjoy features of the platform for a discounted price. The most prominent feature in this regard is margin trading. While regular trades cost 0 fees on Cobinhood exchange, margin trades will cost a fee once the functionality is publicly available. This fee can be reduced by 50%, if it is paid with COB tokens.12 The same applies to fees paid for withdrawals. If they are paid with COB, they are reduced by 50%.13 Concerning ICOs underwritten by Cobinhood exchange, there is also a discount available, since COB token holders can acquire the issued tokens for a lower price.14
DISCOUNTSCOB TOKENAPPROVEDICOSMARGINTRADINGWITHDRAWFEE
Other benefits
Besides airdrops and discounts, holding the COB token offers other benefits. The newest introduced benefit are COB points, that reward token holders for holding COB. With COB points, users will be able to redeem special privileges within the Cobinhood ecosystem. What these benefits are is currently discussed by the team.15 Apart from that, four other benefits exist and are already operational. First of all, the COB token serves as a trading pair for Cobinhood’s underwritten ICOs, thus increasing COB’s liquidity.16 Second, withdrawal fees paid with COB tokens are burned quarterly, which reduces COB’s total supply.17 Third, users can only participate in trading contests, if they hold COB.18 Fourth, by holding COB you could participate in votings to list coins on the platform.19 These votings have stopped in January and have been replaced by “instant listing”, which is a feature that allows individuals to vote with COB tokens for the listing of an ERC-20 token.20 Once the required hard cap for listing is reached, the project gets listed within 7 days.21
FEATURES+COB TOKENCOBPOINTSTRADINGPAIRFEEBURN
Wrap-up
In this article we discussed the benefits provided by the COB token. By holding COB, individuals are eligible for airdrops of listed tokens and underwritten ICOs, although a minimum amount of COB needs to be held to participate in these events. By paying margin trading fees and withdrawal fees with COB, one can receive a 50% discount on these fees. COB also enables token holders to acquire tokens issued in ICOs underwritten by Cobinhood for a reduced price. Other benefits of the COB token include participation in trading contests and listing votings as well as a quarterly burn of withdrawal fees and using COB as a trading pair for underwritten ICOs. The most recent feature introduced are COB points, that will reward holders as part of a loyalty program.

Sources – Cobinhood ICO
1
“Token Distribution Campaign of COBINHOOD starts on 13th of September, 2017 at 0:00 UTC+0. It will end in 40 days or when the maximum cap is reached.”
Cobinhood; Medium; How to Join the COBINHOOD ICO; 13.09.2017
2
“We did it! The COBINHOOD ICO has concluded successfully. … 17,433 contributors joined the ICO; 244,773,856 COB tokens distributed; And we received a total of 45,254.9 ETH; This amount is equivalent to a whopping US$13,216,883!”
Cobinhood; Medium; Dev update #1 — Post-ICO progress; 01.11.2017
Sources – Token metrics
3
“Circulating Supply: 367.697.387 COB; Total Supply: 1.000.000.000 COB”
CoinMarketCap; 23.07.2018
Sources – Dexon
4
“Was the big announcement that one day, you will be a DEX? The planning for the DEX has been in play since COBINHOOD’s ICO stage, and the big announcement is that the DEX will be built on the DEXON consensus.”
Cobinhood; Medium; DEXON x COBINHOOD Community FAQ; 06.06.2018
5
“Will COB be switched to DEXON? … No, COB will be bridged onto DEXON via an interchain protocol.”
Cobinhood; Medium; DEXON x COBINHOOD Community FAQ; 06.06.2018
6
“DEXON is a blocklattice platform built on the DEXON consensus algorithm that achieves infinitely scalable, permissionless distributed ledger technology.”
Cobinhood; Medium; DEXON x COBINHOOD Community FAQ; 06.06.2018
Sources – Airdrops
7
11 tokens are listed as Airdrop-Lite missions: (Lympo, LALA World, Dent, SyncFab, Playcoin, FuzeX, Achain, Hoqu, Universa, Bitcomo, Luna)
Cobinhood; Official Website; Airdrop Center; 23.07.2018
8
“This ICO underwriting with CyberMiles consists of business model consulting, smart contract code review, legal compliance, deployment procedures, and marketing support. These same services will also be employed with all ICOs we will underwrite in the future. With our standard to only underwrite high-quality, promising ICOs that have passed stringent due diligence, smart contract code review, and legal compliance by our dedicated ICO review team, we believe in what CyberMiles is trying to bring to the market and look forward to guiding them, and the many others after them, along the way.”
Cobinhood; Medium; Announcing COBINHOOD’s ICO Underwriting Service; 08.11.2017
9
“If you have COB tokens (obtained during or after the COBINHOOD ICO) you can get the CyberMiles ICO token, called CMT, (and other ICO tokens that we underwrite in the future) at a significantly lower rate. Moreover, ICO tokens underwritten by us can be traded on the COBINHOOD exchange platform, immediately, after the ICO, which solves ICO tokens’ low liquidity issues.”
Cobinhood; Medium; Announcing COBINHOOD’s ICO Underwriting Service; 08.11.2017
10
“CyberMiles – Sold Out in 48 hr – 84,146 ETH Raised”
Cobinhood; Official Website; ICO Services; 23.07.2018
11
January 05 was the latest date, where you had to deposit COB tokens to Cobinhood exchange to be included in the snapshot for the CMT airdrop. According to CoinMarketCap, the circulating supply of Cobinhood was 344 million on January 05, 2018. According to the COB/CMT calculator, 344 million COB would have given you 16 million CMT tokens. Since every investor couldn’t redeem his/her first 500 COB for CMT and not every investor will have deposited their COB tokens to Cobinhood exchange or will have redeemed 1 COB for CMT tokens and US residents couldn’t participate in the airdrop, I think the amount is way lower than 16 million CMT tokens. Let’s assume that 10 million CMT were exchanged as bonus for COB token holders (although I think this number is still too high). This would be 1% of CMT’s total supply.
Christian Ott; concluding from data on CoinMarketCap and the Cobinhood Medium; 23.07.2018
Sources – Discounts
12
“50% off margin trading loan interest can be availed when paid with COB tokens.”
Cobinhood; Medium; COB Token Upgrade: New benefits for you!; 24.04.2018
13
“Starting now, COBINHOOD Exchange account holders can use COB tokens to pay for withdrawal fees. Using COB tokens to pay for withdraw fees will give users 50% discount when withdrawing (e.g. if original fee is 0.007 eth= 0.00056 BTC=5.38 USDT=59 COB, then the discounted withdraw fee using COB is 29.5 COB).”
Cobinhood; Medium; COB Token Upgrade: New benefits for you!; 24.04.2018
14
“COB token holders will be able to get future ICO tokens COBINHOOD underwrites at significantly lower rates.”
Cobinhood; Medium; COB Token Upgrade: New benefits for you!; 24.04.2018
Sources – Other benefits
15
“COB Points is a loyalty program exclusive for COB supporters. It can be used to redeem special privileges in the Cobinhood ecosystem. In short: The more COB you own and the longer you continue to hold it, the more COB points you earn and the more privileges you’ll receive.”
Jazz; YouTube; Why you need to buy more & HODL COB! COB Points; 20.07.2018
16
“Pairings for the COB token are added after underwritings (Hence why CMT is the only one there at the moment).”
DeAndre TheRapture; Telegram; Cobinhood main channel; 07.06.2018
17
“In relation to using COB as withdraw fees, the COB tokens that COBINHOOD will receive from users’ withdraw transactions will not be returned to the circulating supply, instead, these COB tokens used as withdraw fees will be burned, quarterly.”
Cobinhood; Medium; COB Token Upgrade: New benefits for you!; 24.04.2018
18
“While this is already a requirement for some trading contests we have launched, moving forward, every kind of trading contest we will launch will require participants to have some COB holdings in their account, or they will not be able to participate in this big-reward trading contests. Each trading mission might have different contest criteria (net deposit volume, net trading volume, etc.), but having COB tokens on your COBX account will remain a constant factor in consideration for who will win these contests. The current “COB Factor” system will also be tweaked to make the COB token more beneficial for participants who join these trading contests.”
Cobinhood; Medium; COB Token Upgrade: New benefits for you!; 24.04.2018
19
“From the 25th (00:00 UTC+0) to the 27th December 23:59 (UTC+0), we allowed users to vote for their favorite tokens so it can be listed on the COBINHOOD Exchange platform for free in an event called COBINHOOD Express (short-period voting).”
Cobinhood; Medium; New Tokens on COBINHOOD: January 2018; 02.01.2018
20
“So instant listing allows users to nominate any erc20 token to be listed on COBINHOOD. After nominations. There will be a vote period which will use 1 COB to cast 1 vote. It’s instant listing because it is 7 days guaranteed listing once all criteria is met by the winning token.”
Jazz; Telegram; Cobinhood main channel; 17.06.2018
21
“We don’t have votings of that manner anymore, stopped in January. The new version is called “Instant listing” in which a token may apply for consideration and/or be nominated by the community, then voted for (votes are paid in COB – meet the hard cap and you’re listed in 7 days). Cobinhood. Currently in Beta phase.”
DeAndre TheRapture; Telegram; Cobinhood main channel; 09.07.2018