BOLT

Bolt Social Preview Bolt
SeveralPartnersMicroTransactionsEmergingMarketsBOLTis a mobile centeredentertainment platform.
NewsSportsEducationThe platform is mainly focused onvideo contentcovering different sectors:
in Q1 2019Monthly Active Users1,379,603BOLT already has a largeuserbasearound the world:
DiscountedFeaturesPremiumAccessPaymentson DemandBOLT'stokenhas severaluse cases in their application:
Future TokenTradingFuture TokenSmart ContractsCurrentTokenERC-20ZRC-20BEP-2The token utilizes differentplatformsfor trading and smart contracts
(net profit of 558k USD in Q1)BOLT burnt in Q1 20195,000,000In each quarter, the BOLT team will use 20%of their profits tobuy backand burn tokens.
1 MillionUsersTokenUse CasesSeveralPartnersAs a summary,BOLTis an already operationalentertainment platform with various features:1M+

Dexon

Dexon
SmartContracts10,000+TPSUnbiasedRandomnessDEXONis a highly scalableblockchain platform.
This high scalability is achieved throughDEXON'sblock latticeinfrastructure.
Fungible TokensNon-Fungible TokensCryptocurrencies from other platformscan be moved in and out of DEXONthrough cross-chain solutionTELEPORT.DRC-20DRC-721
KnowyGamesiticket2goSeveralDAppsare built on DEXON andwill be available on DEXON's DApp Store.
PlatformFeesDEXON has a close partnership withzero-fee exchangeCOBINHOOD.IEO
10K+ TPSBlock LatticeExchangeAs a summary,DEXONis an all-in-oneinfrastructure for tokens and applications.

Energy Cryptocurrencies

Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies Energy Cryptocurrencies
ENERGY
03.05.2019
CHALLENGES THE ENERGY SECTOR IS FACING AND HOW CRYPTO PROJECTS ARE AIMING TO SOLVE THEM
CHRISTIAN OTT
AUTHOR
Energy and Crypto?
2017 was a catalyst year for energy focused cryptocurrency projects. Several different companies presented their business ideas with which they aim to disrupt the energy sector. Most of them used an ICO as a method for gathering funds to realize their idea. During the crypto bear market of 2018 however, public interest in these projects has cooled down. In this article, I want to discuss why innovations in the energy sector are required and how cryptocurrencies can support these changes.

Why do we need change in the energy market?
Talking about the global energy providing sector as a whole is difficult, because its local submarkets highly depend on regulations in individual countries. Nonetheless, there are similar circumstances and trends affecting the whole market, such as rising demand, rising costs, centralization vs. privatization, need for sustainability, increasing pollution and catastrophe prevention. Let’s take a look at the global challenges in detail:

Challenge 1: Rising demand
Probably the biggest trend in the energy sector is rising demand. The global demand for energy is expected to grow by more than 25% to 2040.1 There is a variety of driving forces behind this surge in demand. On one side, we have a rising demand in electricity.2 It originates from the continuously growing digital economy3 or the expected growth in the electric vehicle sector, where the number of electric vehicles is said to rise from 4 million today to 1 billion by 2040.4 On the other side, there is rising demand from developing economies such as India, who will account for a much larger percentage of global energy consumption in 2040, than they did in the year 2000. A growing world population of about 1.7 billion people till 2040 will even further enhance the global demand for energy.5

Challenge 2: Rising prices
However, this rise in demand didn’t necessarily go along with reasonable costs, although it is difficult to compare data on energy costs across different countries. While the crude oil price is at half the price it was five years ago, it is still twice as high as it was 50 years ago (prices are inflation-adjusted).6 In the U.S., inflation-adjusted prices for electricity have increased by 7.5% since the year 2000, although they have stayed roughly around the same mark for the last 60 years (with a few ticks upwards and downwards).7,8 In Australia however, prices for households increased on average by 72% for electricity and 54% for gas from 2003 to 2013.9 Additionally, the electricity bill for households in Greece increased by 64% from 2010 to 2017.10 In Europe generally, the poorest ten percent of households spent 9.8% of their expenditure in 2015 on energy.11

On the contrary to Europe, the U.S. and Australia, inflation-adjusted prices for electricity have gone down by more than 55% over the last 20 years in China.12 In general, the electricity prices per KWH are way lower in China and in India (ranging around 0.08 USD) compared to the U.S. (0.13 USD), France (0.19 USD), Japan (0.22 USD) or Germany (0.33 USD).13 Concluding from that, energy prices are not rising in every country, but there are still more than enough countries who could use innovative approaches to reduce their local energy costs.

Challenge 3: Sustainability
As low as costs for energy in China may be, pollution is a major problem in the country. It causes 1.1 million premature deaths and losses of 20 million tons in crop production on average per year in China.14 A major part of that pollution derives from power plants with China being the world’s largest consumer of energy originating in coal and lignite.15 In general, cheap energy sources are not only one of the major causes of pollution in China, they also produce CO2 emissions, that are considered one of the causes of global climate change.16

But it is not only prevention of environmental pollution. The demand for energy since the Industrial Revolution has led to a wide-scale extraction of fossil fuels.17 Oil and gas reserves are expected to last until 2042 and coal is expected to be available until 2112.18 However, demand for energy will continue to rise, so there need to be new ways to produce energy, paving the way for mass adoption of renewable energy devices.

Additionally, the environmental catastrophes caused by the nuclear disasters of Chernobyl in 1986 and Fukushima in 2011 underline the need for sustainable energy generating solutions. While nearly 600 deaths are associated with the malfunction of the nuclear power plant in Fukushima,19 the Chernobyl disaster is estimated to have caused up to 200,000 deaths.20 The financial damage caused by the Chernobyl incident is estimated at around 235 billion USD,21 whereas the Fukushima incident caused 188 billion USD in costs.22 Both nuclear disasters also led to massive relocations of hundreds of thousands of people.23
CHALLENGESENERGY SECTORUNSUSTAINABLEPRODUCTIONGROWINGDEMANDRISINGCOSTS
The regulatory framework is under development
Unfortunately, the current structure of the market doesn’t help to solve these challenges. The energy providing sector is still dominated by centralized energy production, partly through state owned enterprises.24 This centralization is inefficient, since it reduces competition and tends towards monopolistic practices.25 However, due to these known inefficiencies and facing the above-mentioned challenges, several countries started to privatize their energy market or have already completed the privatization. In Europe for example, the energy market is mostly liberalized,26 while this liberalization is still in an ongoing process in Asia.27-29

Crypto companies disrupting energy markets
Different cryptocurrency companies are now seeking to turn these circumstances into an advantage for them. While the ambitions of these projects partly differ from each other, they share the same goal, which is to decentralize the energy market. Their core idea is to replace a small number of giant power plants with a huge number of small energy providers. This decentralized nature of their plans is an opportunity to solve the biggest challenges the energy market is facing and offers even more possibilities to make the market more efficient:

Opportunity 1: Matching consumers and producers
First of all, these platforms will give both providers and consumers the possibility to trade energy with each other without the need of middlemen. Small-scale producers who want to sell surplus power can use the platform to offer their energy production to others, while households can choose from a bunch of different producers in these platforms, that best fit their needs regarding clean energy, costs and location.

Opportunity 2: Reduced costs
This much increased competition in contrast to centralized energy providing systems will give consumers the ability to choose those energy providers in the market, that charge the lowest amounts for energy. In case all energy providers in the market charge unreasonably high costs for energy, the entry barriers for new energy producers that want to offer their services for cheaper prices than their competition, will be much lower due to the matching engine.

Opportunity 3: Payments on demand
Various companies in the crypto energy space are accompanying their energy trading platform with smart meters, that can be used by consumers and providers to measure energy consumption in real-time. These smart meters also give consumers the possibility to pay for their energy consumption on demand and in real-time. This opportunity is further facilitated by the low transaction costs of cryptocurrencies and the ability to automate the payment process with smart contracts.

Opportunity 4: Increased sustainability
The decentralized energy market introduced by these projects also increases sustainability in energy production. The targeted huge number of small energy producers will raise the percentage of renewable energy on overall energy produced, since smaller providers are much more likely to place a bunch of solar cells on their roof than to build an atomic power plant in their front yard. The ever-decreasing costs for solar modules, which have been reduced by 99% since 1980 and are projected to drop another 40 percent in the next five years,30 are further facilitating this change.

Opportunity 5: Energy as a commodity
Additionally, these platforms offer a new possibility of investing. If one of them creates a cryptocurrency, that is pegged to the price of energy (for example one unit of the coin equals the average costs of one kilowatt-hour across the market), they would basically create a new stable coin, whose value is determined by the current price of energy. It would create a new way of value-keeping, since most other stable coins are pegged to the price of fiat or precious metals.
OPPORTUNITIESENERGY CRYPTOLOWERCOSTSPAYMENTSON DEMANDSTABLEINVESTMENTSUSTAINABILITYMATCHING
Critical Discussion
While all these ideas are promising and needed in the energy market, it remains to be seen, whether the current cryptocurrency energy-focused companies can deliver on their promises. Most of these projects are startups that entered the market around two years ago and were financed via an initial coin offering. After a long crypto winter, these projects might be already running low on the funds gathered in their ICO and they might still be far away from being profitable enough to finance their company with their earnings alone. So, they could go out of business quickly and therefore not deliver on their promises.

Additionally, even if they are not running low on funds and can keep operations live for the next years, they could still not be capable enough to fulfill their promises. Developing a functional peer-to-peer energy trading application is a complex task, as well as equipping consumers with the necessary hardware such as smart meters or renewable energy devices and integrating these devices into a smart grid. It requires deep technological knowledge and understanding, which is also looked for in much bigger companies, that might offer a significantly higher wage and a significantly better work environment than these startups.

However, even if they have the funds and the talent, the progress of these projects can still be very slow. Besides the software and hardware development, which is already complex enough, these plans also include a huge amount of business development and regulatory talks. It is very well possible, that the first few years of these projects are spent on development, followed by several prototypes, while the promised peer-to-peer energy trading for the masses will be available several years later. And even if the product is great, it is not guaranteed that they can successfully onboard enough energy providers or consumers to make the platform interesting for the general public.

Wrap-up
This article outlined the challenges the energy market is facing and how cryptocurrency companies can support solving these challenges. Currently, the energy market is suffering from an ever-growing demand across the globe, while the costs for energy consumption are not necessarily staying at a reasonable level. To fight environmental pollution and to prevent catastrophes like the ones caused by malfunctions in nuclear power stations in the past, there is a strong need for sustainable energy production via renewable energy devices. Liberalization of the energy markets is completed in some parts of the world, while it is still in an ongoing process in other parts of the world.

Several cryptocurrency companies are now entering these privatized markets to decentralize energy production by providing users with the possibility to trade energy peer-to-peer. This will increase competition in the energy providing sector and will likely make energy consumption more cost-efficient. With the use of smart meters and smart contracts, users are able to pay for their energy consumption in real-time and on demand. The decentralized nature of this new energy providing market will likely raise the percentage of renewable energy on overall energy produced, since smaller-scale energy producers will rely on renewable energy. The platforms could also provide a new form of a stable coin, if they should choose to peg the price of their coin to the costs of energy.

While these plans are all great, it remains to be seen whether the current energy-focused companies in the cryptocurrency space can deliver on their promises. Executing these plans requires funding, talent and tons of effort, which a lot of startups fail to deliver. However, it will certainly be greatly appreciated if they did deliver and bring innovation to the energy sector, because change towards less centralization and more sustainability in energy production is highly needed.



Articles, that may interest you:
Sources – Innovations are needed
1
“In all cases, governments will have a critical influence in the direction of the future energy system. Under current and planned policies, modeled in the New Policies Scenario, energy demand is set to grow by more than 25% to 2040, requiring more than $2 trillion a year of investment in new energy supply.”
International Energy Agency; Official Website; World Energy Outlook 2018 – Press Release; 13.11.2018
2
“Electricity markets are also undergoing a unique transformation with higher demand brought by the digital economy, electric vehicles and other technological change. As part of its deep-dive into the electricity sector this year, WEO 2018 also examines what impact of higher electrification in transportation, buildings and industry.”
International Energy Agency; Official Website; World Energy Outlook 2018 – Press Release; 13.11.2018
3
“From 2006 to 2016, BEA estimates that digital economy real value added grew at an average annual rate of 5.6 percent, outpacing the average annual rate of growth for the overall economy of 1.5 percent.”
Bureau of Economic Analysis – U.S. Department of Commerce; Official Website; Defining and Measuring the Digital Economy; March 2018
4
“It means almost 1 billion electric cars on the road by 2040, compared to 4 million today.”
International Energy Agency; YouTube; World Energy Outlook 2018; 13.11.2018
5
“In the New Policies Scenario, rising incomes and an extra 1.7 billion people, mostly added to urban areas in developing economies, push up global energy demand by more than a quarter to 2040. The increase would be around twice as large if it were not for continued improvements in energy efficiency, a powerful policy tool to address energy security and sustainability concerns. All the growth comes from developing economies, led by India. As recently as 2000, Europe and North America accounted for more than 40% of global energy demand and developing economies in Asia for around 20%. By 2040, this situation is completely reversed.”
International Energy Agency; Official Website; World Energy Outlook 2018 – Executive Summary; 2018
6
Inflation-adjusted crude oil prices are around 50 USD from 2016 to 2018, were at around 100 USD from 2011 to 2013 and were around 22 USD from 1965-1970.
Macrotrends; Official Website; Crude Oil Prices – 70 Year Historical Chart; 11.01.2019
7
With the help of this source and the one displayed above, I calculated an inflation-adjusted price from 2000 to 2017, which shows an increase of 7.5%.
U.S. Energy Information Administration; Official Website; Table 5.3. Average Price of Electricity to Ultimate Customers; 26.12.2018
8
With a few ticks upwards and downwards, the inflation-adjusted average retail price of electricity (in cents per KWH, including taxes) has stayed around the 9 cent mark.
U.S. Energy Information Administration; Official Website; Annual Energy Review; 27.09.2012
9
“Electricity and gas prices for manufacturing businesses and households have increased sharply in recent years and indications are that prices will continue to increase. The underlying cause of these increases is different for electricity and gas and the contribution of each factor is also different for each state and territory. … In real terms—that is, taking into account the general increase in prices across all goods and services—prices for households increased on average by 72% for electricity and 54% for gas in the 10 years to June 2013.”
Parliament of Australia; Official Website; Energy prices—the story behind rising costs; 2014
10
“Did you know that the electricity bill for households in Greece increased more (+64 %) over the last seven years (2010-2017) than in any other EU country?”
Eurostat; Official Website; Energy prices in the EU, 2017; 27.11.2017
11
“Europe’s households spend a varying amount of their income on energy, depending on Member State’s overall household expenditure. In 2015, 9.8% of the expenditure of poorest ten percent of households was spent on energy, excluding transport. Middle income households spent 6% of their expenditure on energy, and higher income households less still.”
European Commission; Official Website; Energy prices and costs in Europe 2018; 9.1.2019
12
The inflation-adjusted average wholesale price of electricity in China has decreased by more than 55% in the year 2014 compared to the mid-90s.
China Energy Group – Energy Analysis & Environmental Impacts Division; Official Website; KEY CHINA ENERGY STATISTICS 2016; 2016
13
“Global electricity prices in 2018, by select country (in U.S. dollars per kilowatt hour): Germany 0.33; … United Kingdom 0.22; Japan 0.22; … France 0.19; … United States 0.13; Brazil 0.13; South Korea 0.12; Canada 0.11; Indonesia 0.1; South Africa 0.09; India 0.08; China 0.08”
Statista; Official Website; Electricity prices worldwide by country 2018; 2019
14
“The two pollutants were found to cause an average 1.1 million premature deaths in the country annually, about 1,000 in Hong Kong. Around 20 million tons of rice, wheat, maize and soybean are also lost to exposure to ozone each year.”
South China Morning Post; Official Website; Air pollution is killing 1 million people and costing Chinese economy 267 billion yuan a year, research from CUHK shows; 02.10.2018
15
“Coal, Lignite Consumption in 2017: China 3,607 Mt; India 953 Mt; United States 649 Mt; Russia 232 Mt; Germany 222 Mt…”
Enerdata; Official Website; Global Energy Statistical Yearbook 2018; 2019
16
(translated) “The two lignite power stations in Europe with the highest CO2 emissions each have a higher CO2 emission per year than the yearly CO2 emission of the whole country of Slovenia.”
Spiegel Online; Official Website; Deutsche Kraftwerke sind die schmutzigsten in Europa ; 02.04.2014
17
“Fossil fuels, as the name suggests, are very old. North Sea oil deposits are around 150 million years old, whilst much of Britain’s coal began to form over 300 million years ago. Although humans probably used fossil fuels in ancient times, as far back as the Iron Age, it was the Industrial Revolution that led to their wide-scale extraction. And in the very short period of time since then – just over 200 years – we’ve consumed an incredible amount of them, leaving fossil fuels all but gone and the climate seriously impacted. Fossil fuels are an incredibly dense form of energy, and they took millions of years to become so. And when they’re gone, they’re gone pretty much forever.”
Ecotricity; Official Website; The end of fossil fuels; 19.01.2019
18
“Crude oil, coal and gas are the main resources for world energy supply. The size of fossil fuel reserves and the dilemma that “when non-renewable energy will be diminished” is a fundamental and doubtful question that needs to be answered. This paper presents a new formula for calculating when fossil fuel reserves are likely to be depleted and develops an econometrics model to demonstrate the relationship between fossil fuel reserves and some main variables. The new formula is modified from the Klass model and thus assumes a continuous compound rate and computes fossil fuel reserve depletion times for oil, coal and gas of approximately 35, 107 and 37 years, respectively. This means that coal reserves are available up to 2112, and will be the only fossil fuel remaining after 2042.”
Shahriar Shafiee & Erkan Topal; Energy Policy – Volume 37, Issue 1; When will fossil fuel reserves be diminished?; January 2009
19
“A total of 573 deaths have been certified as “disaster-related” by 13 municipalities affected by the crisis at the crippled Fukushima No. 1 nuclear power plant, according to a Yomiuri Shimbun survey.”
The Daily Yomiuri Online; Official Website; 573 deaths ‘related to nuclear crisis’; 05.02.2012
20
“The range of estimates of excess mortality resulting from the Chernobyl accident spans a wide range depending upon precisely what is taken into account. The most recent epidemiological evidence, published under the auspices of the Russian Academy of Sciences, suggests that the scale of the problems could be very much greater than predicted by studies published to date. For example, the 2005 IAEA report predicted that 4000 additional deaths would result from the Chernobyl accident. The most recently published figures indicate that in Belarus, Russia and the Ukraine alone the accident resulted in an estimated 200,000 additional deaths between 1990 and 2004.”
Greenpeace; The Chernobyl Catastrophe – Consequences on Human Health; Executive Summary; 2006
21
“Damage caused by the Chernobyl disaster is estimated at some $235 billion. However, the overall amount of money that Belarus and the international community invested into the recovery amounts to just 8 percent of the total damage.”
Belarus Foreign Ministry; CHERNOBYL disaster; QUICKLY and BRIEFLY; April 2009
22
“Japan’s government on Friday nearly doubled its projections for costs related to the Fukushima nuclear disaster to 21.5 trillion yen ($188 billion), increasing pressure on Tokyo Electric Power (Tepco) (9501.T) to step up reform and improve its performance.”
Reuters; Official Website; Japan nearly doubles Fukushima disaster-related cost to $188 billion; 09.12.2016
23
“In addition, the tsunami triggered the nuclear accident at the Fukushima Daiichi Nuclear Power Plant. To protect residents in areas surrounding the Fukushima Daiichi Plant, the government established evacuation zones that required approximately 154,000 people to evacuate from restricted areas.”
Reconstruction Agency; Official Website; Great East Japan Earthquake; 12.06.2016
Sources – Liberalization of markets
24
“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
25
“Currently, electricity is produced in a centralised fashion using massive power plants. Once generated, it is distributed over long distances to end-users. Whilst functional, this system is inefficient because: 1. Centralisation reduces competition and tends towards monopolistic practices 2. Distribution costs can add up to 30% to the price of energy 3. Fossil-fuel fired energy plants emit large amounts of pollution, including greenhouse gases, and nuclear facilities incur high, long-term waste processing costs. There is a need to replace the global, centralised model of energy production but until now, this hasn’t been possible because of the high clean energy production costs and the inaccessibility of the energy markets.”
Solar Bankers; Official Whitepaper; The world needs Solar Bankers; 2017
26
“The European Union’s forefathers had one simple idea in mind: strengthen relationships between European states to make war impossible. They believed – perhaps over-optimistically – that economic integration would inevitably lead to political integration, in other words the construction of a federal Europe. Gradually, every industry was integrated into the common market. In 1952, steel and coal were the first with the ECSC, followed by atomic energy with Euratom in 1957. At the end of the 1990s, it was natural gas and electricity’s turn to join the common market. The aim of liberalisation is simple: contributing to bringing peace to the continent by creating a common European market for electricity that would enable any consumer to buy megawatt-hours from any producer, wherever they are within the EU. “
European University Institute; Official Website; Liberalisation of the European electricity markets: a glass half full; 06.04.2017
27
“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; 27.04.2016
28
“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
29
“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
Sources – Crypto Opportunities
30
“In a report last month, the MIT team identified public and private research and development (R&D) and improvements in cell efficiency as the major factors contributing to a 99 percent reduction in module costs since 1980. … Wood Mackenzie forecasts that spot prices for modules could fall from $0.30 per watt-DC to $0.18 per watt-DC in the next five years, a 40 percent drop. And R&D is only part of the equation.”
GreenTechMedia; Official Website; Why PV Costs Have Fallen So Far—and Will Fall Further; 14.12.2018

COB Token

COB Token Introduction to the COB Token by Christian Ott
COB TOKEN
11.04.2019
UTILITIES, 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 with zero trading fees. 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 will be outlined in this article.

COB Token Basics & Distribution
Let us start with the basics. The COB token is an ERC-20 token and therefore based on Ethereum. Since Cobinhood wants to evolve from a centralized to a decentralized exchange3 the COB token will be bridged onto a block lattice via an interchain protocol in the future,4 that is developed by the DEXON foundation.5 The COB token has a total supply of 1 billion, of which 406 million COB are currently in circulation. 342 million COB were distributed in 2017, while another 48 million COB were introduced to the circulating supply in 2018.6
DISTRIBUTIONCOB TOKEN500 M400 M300 M200 M100 M0201820192017342m390m+14%
Airdrops
Looking at COB’s utilities, COB token holders have been eligible to receive two types of airdrops since the inception of Cobinhood. 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 the amount of COB tokens held in a user’s account. The distribution is based on the “first come first serve” principle, meaning users have to be quick to claim their 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 airdrop on Cobinhood are airdrops of their underwritten ICOs.8 Cobinhood has already held multiple successful ICOs, such as the ones for Cybermiles, SimplyBrand or DEXON. Cybermiles already had their airdrop in January 2018, while SimplyBrand and DEXON are still going to airdrop a certain percentage of their tokens to COB token holders. I would estimate, that 10 million CMT were distributed in the Cybermiles’ airdrop, which would be 1% of CMT’s total supply and was around 4 million USD at the start of the airdrop.9 SimplyBrand allocated 3.75 million SBA for COB token holders, which currently have a value of around 128k USD.10 DEXON allocated 32.5 million DXN for an airdrop, which would be worth around 6.5 million USD currently (calculating with DEXON’s public sale price). However, if that is fully distributed to COB token holders or only partly remains to be seen.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. Traders can save up to 50% of the margin trading loan interest fee, 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. First and foremost, COB token holders receive COB points, that reward token holders for holding COB. These COB points have various use cases, such as enabling users to purchase tokens in selected ICOs at a discount or allowing users to redeem COB points in selected airdrops. They can also be used in smaller tasks, such as three daily spins in Cobinhood’s candy machine (in exchange for 1 COB point).15

Apart from COB points, four other benefits exist on Cobinhood for COB token holders: First, 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 once 1 million COB in fees are collected, which reduces COB’s total supply.17,18 Third, users can only participate in trading contests, if they hold COB.19 Fourth, by holding COB users could participate in votings to list coins on the platform in the past.20 However, these votings have stopped in January 2018 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.21 Once the required hard cap for listing is reached, the project gets listed within 7 days.22
FEATURES+COB TOKENCOBPOINTSTRADINGPAIRFEEBURN
Wrap-up
This article outlined the utilities and benefits provided by the COB token. By holding COB, individuals are eligible to receive airdrops of selected listed tokens and underwritten ICOs. By paying margin trading fees and withdrawal fees with COB, users 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. COB Points are given to users for holding COB and can be used for a variety of features. Other benefits of the COB token include higher liquidity due to multiple trading pairs, enabling users to participate in trading contests as well as a decreasing supply by burning withdrawal fees paid with COB.

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 – Basics
3
“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
4
“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
5
“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
6
Distribution details are from CoinMarketCap’s historical data about the COB token.
concluding from data on CoinMarketCap and Etherscan; 11.04.2018
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
“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
9
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.
concluding from data on CoinMarketCap and the Cobinhood Medium; 11.04.2019
10
“REWARD POOL: An estimated pool of 3.75 million SBA (Allocation: 10% for COB-holders in COBX, 90% redeemable with COB Points)”
Cobinhood; Medium; COBINHOOD lists simplyBrand (SBA) on March 31st; 11.04.2019
11
The pie chart shows that of the allocated 650 million DEXON for the DEXON foundation are reserved for an airdrop (equaling 32.5 million DXN).
DEXON; Official Website; Whitepaper 2.1; 11.04.2019
Sources – Discounts
12
“COB token holders have added benefits. Traders can have 50% off Margin Funding fee when paying with COB tokens. Additionally, the interest fees of Margin Trading don’t have a fixed interest rate. Interest incurred is based on the prevailing market rate.”
Cobinhood; Medium; Margin Trading available now on COBINHOOD; 18.10.2018
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
“It has been explained few times so far. Burn of used cob as fees wouldn’t be significant to influence price, so rule of burning has been tweaked to perform a burn once 1m cob is reached.”
Fragmaster; Telegram; Cobinhood main channel; 13.12.2018
19
“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
20
“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
21
“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
22
“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

Nano

Nano currency
NANO
17.02.2019
FAST. FEELESS. SCALABLE.
CHRISTIAN OTT
AUTHOR
Introduction
In 2016, a new cryptocurrency called RaiBlocks was introduced by Colin LeMahieu to solve the biggest issues of other digital currencies.1 Rebranded to Nano later on,2 this currency has gained a lot of traction in the crypto community. What was once a coin developed by one man has evolved into an ecosystem backed by a growing and dedicated community.3 In this article, I want to present the core features of Nano in a comprehensive way and also take a closer look at its surrounding ecosystem.

Features
Nano is most commonly known for being faster than other cryptocurrencies, because transactions in the network are completed within seconds. It also has a competitive edge by executing its transactions without a transaction fee.4 Speaking about its underlying infrastructure, Nano runs on a block-lattice architecture, in which each account has its own blockchain.5 This block-lattice enables a high transaction throughput, which is not only existing on a theoretical level, but has also been proven in different stress tests.6,7 Nano achieves consensus in the network via a balance-weighted vote on conflicting transactions.8 In general, with its original whitepaper released in 2014, Nano was one of the first Directed Acyclic Graph (DAG) based cryptocurrencies.9
FEATURESNANOSCALABLEFASTFEES
Distribution
Nano had a pretty unique distribution method. In opposite to more common distribution methods like mining, ICOs or airdrops, Nano was initially distributed via a CAPTCHA-based faucet.10 The faucet was active from February 2016 till October 2017 and distributed 94.7% of the total supply. The other 5.3% (7 million Nano) of Nano’s total supply were added to a development fund. Therefore, Nano’s circulating supply equals its total supply, which is 133,248,289 Nano.11 As of today, February 17, 2019, 24.6% of the supply is on Binance, 3.2% is managed by the BitGrail trustee, 2.9% resides in the developer fund, 1.1% is on KuCoin, 0.8% is on Mercatox and 0.4% is on Huobi. In general, 38161 addresses have a balance bigger than 100 Nano and 8297 addresses have a balance above 1000 Nano.12
DISTRIBUTIONNANOADDRESSES WITHABOVE 100 NANOMILLION NANOTOTAL SUPPLY% HELD BYEXCHANGES
Adoption
A currency, that wouldn’t be accepted as a payment method by any merchant would only have a speculative value, but no real utility. Therefore, the Nano team and community have been actively pursuing adoption for Nano as a currency to give it multiple utilities. Three of those utilities are especially significant. First of all, Nano is one of the accepted currencies on Travala’s platform, which means you can book 550k+ hotels worldwide and pay with Nano.13 Adding to that, you can use Nano for donations to Twitch streamers.14 Furthermore, Nano got recently added to the list of cryptocurrencies supported by the Wirex Visa payment card.15 In general, Nano is currently accepted as a payment method by 120 merchants all over the world.16 Merchant adoption is further facilitated by Nano’s integration with Coingate.17
ADOPTIONNANOTWITCHWIREX CARDTRAVALA
Ecosystem
Nano started out as a currency, but thanks to tremendous community dedication is now shifting to become a whole ecosystem. Several wallets have been implemented for the currency in addition to the official wallet, with each of them developing unique features and user interfaces.18,19,20 Adding to that, different block explorers have been created as well.21,22 Other than these core cryptocurrency features, the Nano ecosystem has been expanded by several other products: BrainBlocks is the first project that allowed merchants to easily integrate accepting Nano into their online stores;23 Nanex is an exchange that uses Nano as a base pair;24 Jolt is an upcoming hardware wallet for Nano and other cryptocurrencies25 and @NanoTipBot enables users to tip Nano to each other on Twitter.26

To bring even more community projects to life within Nano’s ecosystem, the Nano Center was founded, that aims to promote Nano to a wider audience with high-quality community funded projects.27 Nano Quake is one of those projects developed by the Nano Center. It is a modified version of first person shooter Quake 2, where you can get rewarded with Nano depending on your in-game success.28 Another project the Nano Center has been actively pursuing is to achieve adoption for Nano in Venezuela and to establish the currency as an alternative payment system.29
ECOSYSTEMNANOVENEZUELAQUAKENANO CENTERTIPBOTBRAINBLOCKSJOLTNANEXEXPLORERWALLETS
Wrap-up
Nano has a competitive edge over other cryptocurrencies because its transfers are executed within seconds and don’t require a transaction fee. It runs on a block-lattice, which makes the currency scalable and therefore enables it to perform thousands of transactions per second. Nano was initially distributed via a faucet. Currently, around 40k addresses have a balance of above 100 Nano. The core team and a dedicated community are actively pursuing adoption for Nano as a payment method, with Travala, Twitch and the Wirex Visa Card being the most prominent adopters as of right now. Once just a currency, Nano is now shifting to become a whole ecosystem backed by multiple products and community developments.



Articles, that may interest you:
Sources
1
“Why RaiBlocks? No fees: The RaiBlocks network has no notion of fees. Low latency: Transactions are natively processed instantly giving a responsive experience. Scalability: Micropayments require a system capable of significant scalability. Simplicity: Users have a simple experience without technical jargon.”
Colin LeMahieu; Bitcointalk; RaiBlocks Announcement Channel; 29.02.2016
2
“The Core Team wanted a name that represented the simplicity and speed of the project, and Nano does just that. The new logo uses several nodes, playing on the block-lattice design of the network, that connect to form an “N.” All social media accounts will be updated to reflect the name and logo changes. The new website is nano.org.”
Nano; Medium; Nano Rebrand Announcement; 31.01.2018
3
“As we’ve reflected on this last year we’ve noticed a common thread through all the Reddit posts, code commits, Discord chats, forum updates, critical discussions and other materials — the Nano community and technology is constantly and consistently maturing. It wasn’t much more than a year ago that Colin LeMahieu switched to working full-time on the Nano protocol, and just over 9 months since the Nano Foundation was established.”
Nano; Medium; Nano 2018 Year in Review; 31.12.2018
4
“Digital currency for the real world – the fast and free way to pay for everything in life. Instant transactions – Zero fees – Infinitely scalable”
Nano; Official Website; Frontpage; 17.02.2019
5
“Here we introduce Nano, a cryptocurrency with a novel block-lattice architecture where each account has its own blockchain, delivering near instantaneous transaction speed and unlimited scalability. Each user has their own blockchain, allowing them to update it asynchronously to the rest of the network, resulting in fast transactions with minimal overhead. Transactions keep track of account balances rather than transaction amounts, allowing aggressive database pruning without compromising security.”
Colin LeMahieu; Nano Whitepaper; Nano: A Feeless Distributed Cryptocurrency Network; 2018
6
“In this experiment we showed that the RaiBlocks’ network can handle at least a sustained 33 TPS, while individual nodes were processing a minimum peak of 120 TPS. These results were limitations of this experiment and the node I was publishing from; I am quite confident in the network’s ability to handle a much greater transaction rate. Future work is to perform a multi-node publishing stress test or to find bottlenecks in my current stress test code.”
Brian Pugh; Medium; Stress Testing the RaiBlocks Network: Part I; 22.01.2018
7
“The test results are as follows: Number of Transactions: 5000; Broadcast Length: 47.28 Seconds; Average Broadcast TPS: 105.75 TPS; Remote Peak TPS (1S Average): 306 TPS; RaiBlocks.Club Peak TPS (5S Average): 172.8TPS”
Brian Pugh; Medium; Stress Testing the RaiBlocks Network: Part II; 26.01.2018
8
“These DAG-based cryptocurrencies broke the blockchain mold, improving system performance and security. Byteball achieves consensus by relying on a “main-chain” comprised of honest, reputable and user-trusted “witnesses”, while IOTA achieves consensus via the cumulative PoW of stacked transactions. Nano achieves consensus via a balance-weighted vote on conflicting transactions. This consensus system provides quicker, more deterministic transactions while still maintaining a strong, decentralized system.”
Colin LeMahieu; Nano Whitepaper; Nano: A Feeless Distributed Cryptocurrency Network; 2018
9
“The original RaiBlocks paper and first beta implementation were published in December, 2014, making it one of the first Directed Acyclic Graph (DAG) based cryptocurrencies. Soon after, other DAG cryptocurrencies began to develop, most notably DagCoin/Byteball and IOTA.”
Colin LeMahieu; RaiBlocks Whitepaper; Nano: A Feeless Distributed Cryptocurrency Network; 2017
10
“Instead, Nano implemented a novel faucet system with the goal of distributing Nano as fairly and organically as possible. Users faced complex CAPTCHA tests and upon completion were rewarded a percent of the allotted coins based on the amount of CAPTCHA’s solved. The CAPTCHA faucet allowed anyone with a computer to participate, similar to Proof-of-Work mining, though instead of hashing power, users earned coins through contributing a different resource: time and effort.”
Nano; Medium; The Nano Faucet – Looking Back One Year Later; 26.10.2018
11
“In early October 2017, after much discussion within the community, it was decided that it was in the projects best interest for the faucet to be shut down so more time could be focused on the development of the protocol. Once the decision was made, a short period was allowed to allow users to access any remaining claims before distribution officially stopped on October 20, 2017. Upon closure of the faucet, the CAPTCHA faucet had distributed 39% of the initially planned supply, 126,248,289 Nano and a development fund was created with 7,000,000 Nano, leaving 133,248,289 Nano in circulation. The remaining 207,034,069 undistributed Nano was sent an inaccessible burn address in 3 transactions, one each from the Landing, Faucet and Genesis accounts.”
Nano; Medium; The Nano Faucet – Looking Back One Year Later; 26.10.2018
12
Source of the distribution statistics is the Nano Rich List on nano-faucet.org
NANO FAUCET; Official Website; Rich List; 17.02.2018
13
“You can now book 550,000+ hotels worldwide with $NANO using the http://Travala.com built in crypto payment gateway. Travel to 82,000+ destinations with your favourite #crypto #NANO”
Travala; Twitter; 03.02.2019
14
“NanoTwit.ch is a brand new service for Twitch streamers and their viewers. It allows streamers to accept Nano donations on their Twitch streams, and tie it into your existing stream notifications.”
NanoTwit.ch; Official Website; Frontpage; 17.02.2019
15
“Here at Wirex, we’re always looking for exciting projects that will offer our customers something different, to help us cater to every type of crypto-user. That’s why we’re so pleased to introduce the latest coin to the Wirex family, Nano (NANO). It joins Bitcoin, Litecoin, XRP, Ether, WAVES, Wollo and DAI as the latest cryptocurrency that Wirex users in the EEA can buy, store, convert and spend, quickly and simply.”
Wirex; Official Blog; Small, but perfectly formed; 12.02.2019
16
121 merchants were listed at usenano.org at the time of writing.
Use Nano; Official Website; Join the Nano Revolution!; 17.02.2019
17
“Accept Nano Payments – Let your customers pay with Nano. Get Euro payouts or convert to Bitcoin.”
Coingate; Official Website; Accept Altcoins -> Accept Nano; 17.02.2019
18
“Designed by /u/ngyekta and developed by me, Natrium aims to be an intuitive, fun, robust, and secure storage for NANO. As well as the usual stuff like – fast, free, and open source.”
u/bbedward; Nano Subreddit; Introducing Natrium (BETA) for Android – Fast, Secure, Robust NANO Wallet; 23.09.2018
19
“Use Canoe to manage your Nano, an instant & feeless cryptocurrency. Canoe is a fully open source & cross-platform wallet to manage your Nano in a safe and secure way.”
Canoe; Official Website; Frontpage; 17.02.2019
20
“This week I got to chat with Lucas, better known as “Inkeliz”, the developer of Nanollet! Nanollet is a bit different than other wallets in the Nano eco-system, as it does not require a back-end server. Lucas has continued to add unique, interesting features and I was excited to talk with him more in depth about his project and what he has in store for the future.”
Nano; Medium; Community Spotlight: Nanollet – A Serverless Wallet for Nano; 31.10.2018
21
“My Nano Ninja – The Ninja shows you verified representatives, statistics and more for the Nano cryptocurrency!”
My Nano Ninja; Official Website; Frontpage; 17.02.2019
22
“As many of you know, my network explorer has been a hobby project of mine for awhile now. I first started it to learn how Nano works and to see how easy it was to build services on top of the node RPC. Now that it’s become established in the community, one of the things that’s bugged me is that it never had a very official title. It’s been referred to as “the meltingice explorer” or simply “nano.meltingice.net”. While great for my ego, it wasn’t very professional and lacked consistency. This is why I’ve decided to rebrand the site to something that’s both simple and memorable. Going forward, the site is going to be known as the NanoCrawler and will be available at https://nanocrawler.cc.”
u/meltingice; Nano Subreddit; nano.meltingice.net is now known as the NanoCrawler!; 04.09.2018
23
“Every Wednesday I’m going to be highlighting a 3rd party project or organization built around Nano. I figured what better place to start than with Brainblocks, the first project that allowed merchants to easily integrate accepting Nano into their online stores. … BrainBlocks started in January by Daniel as fun weekend project. He found that Nano, then Raiblocks, was great for sending back and forth between two people but that there really wasn’t any way to process online sales that was convenient for both the customer and the merchant. Daniel set out to build a system that would be easy for merchants to implement and created temporary accounts on the fly where the funds could be verified and seamlessly sent on to the merchants account.”
u/troyretz; Nano Subreddit; Weekly Project Highlight #1: BrainBlocks; 20.06.2018
24
“The premier trading platform for Nano – Nano is the future of cryptocurrency trading, and Nanex is at the forefront of that future. Buy and sell your cryptocurrencies for Nano instead of Bitcoin. Deposit and withdraw your Nano instantly with zero fees.”
Nanex; Official Website; Frontpage; 17.02.2019
25
“It’s been a long time coming, but today we’re thrilled to announce the official launch of Jolt, a brand new hardware wallet for managing your crypto! … Jolt is fully open source and currently provides integration with Nano, a fast and scalable currency designed for payments and the kind of community who has been very supportive of our efforts. But of course we‘re not planning to stop there which is why we’ve already begun discussions to integrate with additional currencies as well.”
Jolt Wallet; Medium; Jolt: A new wallet for your crypto; 31.05.2018
26
“For this week’s spotlight, I sat down with Andrew Mitchell, developer of the Nano Tip Bot for Twitter. It’s a great tool for rewarding people for great content or introducing new users to Nano and I was excited to chat with him about how he became involved in Nano and what led to him creating this project. … The Nano Team is a huge fan of your project, we’ve used it on multiple occasions to tip users on Twitter.”
Nano; Medium; Community Spotlight: Nano Tip Bot by Andrew Mitchell – An easy way to reward and introduce people to Nano; 19.09.2018
27
“We are pleased to introduce The Nano Center, a community born collective with the express aim of promoting Nano and its virtues to as wider audience as possible. Through carefully selected and community funded projects we intend to foster adoption and integration of this revolutionary technology into the modern cryptocurrency space and beyond. We are very passionate about the qualities of this pure cryptocurrency as it can create a greener economy, bring stability to areas of economic volatility and provide people without access to conventional banking a way of controlling their money. Nano will empower the people of the world to take back control of their money. The Nano Center was created by the community, for the community and we invite all that share our ambitions to join us and help in the effort. Everybody can contribute in their unique way to this mission, whether it be through a donation of time, funds, skills or ideas. We welcome all.”
u/TheNanoCenter; Nano Subreddit; Introducing The Nano Center; 15.06.2018
28
“The server which hosts the game has its own Nano account and each player pays into this account (currently set to a 0.1 Nano buy-in). For each kill you gain a reward of Nano and at the end of the round 3rd place gets 10%, 2nd place gets 30% and 1st place gets the rest.”
The Nano Center; Official Website; NanoQuake; 17.02.2019
29
“In Venezuela there is currently a hyperinflationary economy, the national currency — bolívares — becomes devalued in a matter of days. It’s difficult to get cash, most times banks won’t even have any, and credit card systems often collapse due to the amount of people paying for goods. I decided to start this project because I believe Nano can actually solve these problems and I can see the long-term potential. Our organization will be focused on building a durable ecosystem for Nano, we want to market Nano as an alternative payment system where people can transact without waiting for the payments to settle.”
Nano; Medium; Community Spotlight: The Venezuela Project – Highlighting Efforts to Increase Adoption in Developing countries; 29.08.2018

Skywire for Corporations

Skycoin Accenture
INTERNET OF TRUST
29.01.2019
POSITIONING SKYCOIN IN ACCENTURE’S RECENT PUBLICATION
CHRISTIAN OTT
AUTHOR
Introduction
Improving the Internet is no longer a niche topic. Accenture recently published a new research report called “Securing the Digital Economy – Reinventing the Internet for Trust”. They outlined several problems where current usage of the Internet and its fragile underlying infrastructure puts the digital economy at risk and identified three areas (governance, business architecture, technology), where companies need to promote changes or innovate themselves. While they will certainly spread their findings among their customers, they also sponsored the trending hashtag “InternetofTrust” with the caption “The Internet is broken” on Twitter, to spread awareness about the problems the Internet currently faces. It should be interesting to apply Accenture’s report to Skycoin’s vision of a new Internet, to see in how far Skywire delivers solutions for the identified challenges.

Challenges
As one of the leading global management consulting companies,1 Accenture has an insight on challenges, that corporations are facing all over the world. Accordingly, their research report identified several challenges that are affecting the digital economy. They suggest, that solutions for these challenges can be made “Above Ground” and “Below Ground”. “Above Ground” describes improvements in governance and business infrastructure, that are mainly performed by the corporations themselves. “Below Ground” refers to improvements in the technical infrastructure, that will mostly be developed by third parties,2 such as Skycoin. In the following, we will take a look at the challenges Accenture identified and will discuss in how far Skycoin can contribute to solving these challenges.
CHALLENGESACCENTURE'S IDENTIFIEDIOTIDENTITIESHIGH COSTSFRAGMENTEDOUTDATED
Challenge 1: Outdated Infrastructure
The report starts with the most obvious challenge: The Internet wasn’t originally designed for this kind of mass adoption we have seen over the past two decades. It’s original purpose was to be a trusted communications network underground, that would enable high levels of data sharing and could withstand a nuclear attack.3 Once just a military asset, the Internet went on to evolve into an open infrastructure, that outpaced the introduction of adequate safeguards.4 Many of the base Internet protocols have grown historically and are therefore insecure and unfit for current demands.5 Centralization of institutions that run the Internet’s infrastructure is also considered as a security issue. An example for this vulnerability happened in 2017, when traffic to and from 80 Internet service providers were temporarily rerouted to an unknown Russian operator.6

Adapting the historically grown, widely-used infrastructure of the Internet to better standards might be a nearly impossible task. Skycoin therefore decided to build an improved version of the Internet from the ground up. They tackle centralization of ISPs by designing Skywire as a decentralized meshnet, that encourages users to be their own ISP.6 Skywire’s networking standard shall be an approach similar to multiprotocol label switching (MPLS),7 which forwards packets based on a predefined path and is therefore faster than the currently in use Internet protocol (IP), which lacks path control.8 The communication protocol should also improve security, since it is end-to-end encrypted and each node on a packet’s route can only see the previous and next hop for a packet.9

Challenge 2: The IoT Effect
The second challenge identified by Accenture is based on the growing number of devices connected in the Internet of Things (IoT). They state that due to IoT enterprise networks have grown from thousands of end points to several million end points, which puts them at risk because every connected device is a potential vulnerability.10 The report is a bit vague in that regard and doesn’t mention specific security issues, but I would assume they are talking about the difficulty of preventing unauthorized access to IoT devices via potential back doors and the challenge of keeping the software of all IoT devices up to date.

It is difficult to say, in how far Skycoin will improve these security concerns, since they are mostly individual software related issues or managed by the IoT device manufacturers. Skycoin is working on self-designed hardware and software,11 which might not have any back doors, but expanding their hardware manufacturing plans to IoT devices isn’t currently one of their top priorities. However, security issues aren’t the only uncertainty around IoT devices. The total number of IoT devices is expected to grow by 17% per year, from 7 billion devices in 2018 to 21.5 billion devices in 2025.12 The current centralization of Internet service providing will most likely have too many bottlenecks to process all this data, which is why future IoT networks need to be decentralized.13 Skywire aims to be such a decentralized mesh network and should therefore be better suited to connect massive amounts of IoT devices than the current Internet.14

Challenge 3: Identity Management
Accenture’s report lists identity management as third challenge in the digital world. Individuals use several digital identities and it can be challenging to verify, whether their alleged digital identity corresponds to their real identity, is a fictional identity or is somebody else’s stolen identity. The average Internet user today manages 27 passwords, up from six in 2006.15 Improving identity management is not one of Skycoin’s core goals as of right now, but since blockchain is considered as a method to improve identity storage,16 Skycoin could certainly provide interested developers with their own highly scalable blockchain on Skycoin’s platform Fiber.17

Challenge 4: Digital Fragmentation
Challenge number four in Accenture’s report is the increasing fragmentation of the Internet. The free flow of data across borders is more and more limited due to regulations introduced in a growing number of countries. The reasons behind this Internet balkanization are concerns about borderless cyberattacks and geopolitical tensions. This ongoing development has led to an increasing number of isolated information systems and is generally threatening to stunt global economic growth.18

Skycoin is well aware of cyberbalkanization. In fact, they are the creators of a four-part series of articles, that might be the most comprehensive publications on cyberbalkanization on the entire web. Fighting the consequences of cyberbalkanization to protect a borderless, censorship-resistant and neutral Internet is one of the main motivations behind the development of Skywire.19 The key for solving this challenge is Skycoin’s approach to decentralize the web. Decentralized hosting and decentralized data storage are way more difficult to censor than centralized solutions. Other than that, the end-to-end encryption of Skywire makes it impossible to monitor the content of a data transmission from the outside.20

Challenge 5: Potential Costs of Insecurity and Investments in Cybersecurity
All four previous issues identified by Accenture lead to challenge number five – rising costs. Technological inefficiencies and vulnerabilities put companies at risk of losing an estimated 5.2 trillion USD in value creation opportunities from the digital economy over the next five years.21 That’s why corporations started to increase their investments in cybersecurity. Gartner estimated that 114 billion USD were spent in 2018 on cybersecurity and they forecast, that 124 billion USD will be spent in 2019.22 Venture capital investors also invested 33 billion USD in security startups since 2009, which is apparently a larger sum, than they invested in blockchain startups.23

These investments show, that companies aim to build upon a more secure infrastructure in the future. However, with gradual improvements to the current infrastructure of the Internet, I see the risk of solving only temporary issues but not fighting their underlying causes. Skycoin’s approach to build a new Internet from the ground up is certainly more complicated in the short-term, but it could succeed at solving some of the Internet’s underlying issues in the long-term. The fulfillment of Skycoin’s visionary mesh net infrastructure should therefore be in the interest of all companies in the digital economy. Given the enormous investments in security startups, some of the large corporations in the digital economy might even be interested to accelerate the implementation of Skywire with a strategic investment.
SKYCOINSOLUTIONS PROVIDED BYEND-TO-ENDENCRYPTIONDECENTRALIZEDHOSTINGPATHCONTROLLOGGED TOBLOCKCHAINBUILT FROMGROUND UP
Wrap-up
The article showed five challenges identified in Accenture’s recently published research report, that put the digital economy at risk. The report stated, that the rapid growth of the Internet couldn’t keep up with the introduction of necessary improvements at its base level. Its standard protocols are unfit for current demands and will be put to a test, when billions of IoT devices will be connected to the Internet in the next years. But not only machines put the web to a test, managing the identities of individuals is another challenging task for corporations. The report also stated, that the ongoing digital fragmentation of the world wide web will most likely slow global economic growth down. All these challenges will result in higher costs for companies, which have already invested 114 billion USD in 2018 in cybersecurity.

Skycoin’s flagship product Skywire – currently in development and not released yet – can be a solution for some of the challenges identified in Accenture’s report. Skywire has generally been perceived as a censorship-resistant platform, that allows individuals to use the web without being surveilled by centralized institutions. But as applying its core design principles like decentralization or end-to-end encryption to the five discussed challenges showed, Skywire should be a very interesting implementation for corporations and could generally help to move the digital economy to new levels of connectivity.
Sources
1
“Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 469,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; About Accenture; 24.01.2019
2
“Above ground, the strategic initiatives of CEOs can lead to standards and best practices. Below ground, through innovative technology improvements, CEOs can invest in improving the Internet’s infrastructure.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; Building on Trust; 24.01.2019
3
“The Internet was not initially designed to address issues like perpetually increasing levels of complexity and connectivity. It was developed to enable high levels of data sharing, which requires trust. Researchers during the Cold War aimed to build a trusted communications network underground that could withstand a nuclear attack.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; The Internet Just Can’t Keep Up; 24.01.2019
4
“As the Internet evolved from a military asset to an open infrastructure, security considerations, such as they were, focused on preventing physical failures.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; The Internet Just Can’t Keep Up; 24.01.2019
5
“Today, many of the base Internet protocols — the set of rules embedded in code so all machines on a network or series of interconnected networks “speak” the same language — are unfit for current demands and are insecure.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; The Internet Just Can’t Keep Up; 24.01.2019
6
“Skywire is composed of thousands of interconnected hardware nodes, set up by everyday people around the world. These nodes are called Skyminers. These nodes link together to encrypt and transmit internet traffic across borders and around the world, quickly, efficiently and privately.”
Skycoin; YouTube; Channel of Skycoin; 29.05.2018
7
“The Skywire communication protocol uses Multi-protocol Label Switching (MPLS), rather than TCP/IP, to enable highly-scalable and high-performance transport of any data across any medium.”
Skycoin; Medium; Skywire, The New Internet for the New World; 11.04.2018
8
“IP routing lacks flexibility, path control and has some performance issues. Some of the issues with IP routing can be resolved in a pure MPLS network infrastructure. MPLS is more flexible, traffic engineering is easier to implement and packets are forwarded on a predefined path, based on the assigned label to the packet.”
Cisco; YouTube; Introduction to Segment Routing; 23.11.2016
9
“Skywire’s communication protocol also provides privacy and security advantages over TCP/IP. Each node on a packet’s route can only see the previous hop and the next hop for that packet, not the source, destination, or the content. This is a significant improvement over IPv4, where anyone handling a packet can see both the destination, the source, and worst-of-all, any unencrypted data.”
Skycoin; Medium; Skywire, The New Internet for the New World; 11.04.2018
10
“More recently, the rise of the IoT has expanded the surface area of attack for enterprise networks from thousands of end points — including remote devices, such as mobile phones and laptops — to several million for the largest companies. At the same time, the IoT compels all companies to suddenly manage what are often unfamiliar technology processes, where every connected device is a potential vulnerability.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; The IoT Effect; 24.01.2019
11
“Our VPN will even have its own hardware devices. And it will be running on hardware we designed ourselves and a full software stack, that we designed ourselves.”
Synth; Telegram; Main Skycoin channel; 06.11.2018
12
The projected growth of IoT devices is displayed in a graphic in the article.
IoT Analytics; Official Website; State of the IoT 2018: Number of IoT devices now at 7B – Market accelerating; 08.08.2018
13
“Connectivity: Connecting so many devices will be one of the biggest challenges of the future of IoT, and it will defy the very structure of current communication models and the underlying technologies [2]. At present we rely on the centralized, server/client paradigm to authenticate, authorize and connect different nodes in a network. This model is sufficient for current IoT ecosystems, where tens, hundreds or even thousands of devices are involved. But when networks grow to join billions and hundreds of billions of devices, centralized systems will turn into a bottleneck. Such systems will require huge investments and spending in maintaining cloud servers that can handle such large amounts of information exchange, and entire systems can go down if the server becomes unavailable. The future of IoT will very much have to depend on decentralizing IoT networks. Part of it can become possible by moving some of the tasks to the edge, such as using fog computing models where smart devices such as IoT hubs take charge of mission-critical operations and cloud servers take on data gathering and analytical responsibilities [5]. Other solutions involve the use of peer-to-peer communications, where devices identify and authenticate each other directly and exchange information without the involvement of a broker. Networks will be created in meshes with no single point of failure. This model will have its own set of challenges, especially from a security perspective, but these challenges can be met with some of the emerging IoT technologies such as Blockchain [6].”
Ahmed Bafana; IEEE Internet of Things; Three Major Challenges Facing IoT; 14.03.2017
14
“Skywire actually have three different networks – one is just a guffi like network. Just a gateway to current internet – another one is a native skywire application thing (That is still like the current internet). New network name space with some improvements. – the third one is like urbit and is based upon source independent networking and is completely latency insensitive. Its more like an interplanetary internet or content addressible storage and is great for anything async (email, uploading data for IoT) but is completely different than the current internet in architecture and is very experimental. Its like a DHT except there are collections of keys and each node has full copy of all keys in a set instead of individual keys. This is CXO”
Synth; Telegram; Main Skycoin channel; 07.03.2018
16
“Mital comments: “No individual has a single identity that they use in the digital world. This fragmentation requires too much effort for the individual to ensure consistency, reliability and security. As a service provider, if I cannot trust in the digital identity of a person, then that precludes me from providing services that I Identities in Crisis might want to provide, or risk providing services to someone who has stolen another’s identity.” Most individuals who use the Internet have multiple online identities; the average Internet user today manages 27 passwords, up from six in 2006.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; Identities in Crisis; 24.01.2019
16
“That’s why the idea of blockchain for identity is so intriguing. In theory, it will soon be possible to store our personal data on the blockchain, using biometrics to grant access only to those who ask for permission to see it. This could mean a day will come when we no longer need to rely on credit agencies like Equifax to collect and store troves of our personal information. More ambitious visions of identity—backed by the likes of Accenture and Microsoft—envision using blockchain as a way to help refugees and the world’s poor obtain citizenship and immigration records. Best of all, the security features of blockchain could mean hacking and identity theft will become much harder.”
Jeff John Roberts; Official Website of Fortune Magazine; Blockchain for Identity: Too Good to Be True?; 24.01.2019
17
“Skycoin’s Fiber architecture is a transformational, better-than-blockchain solution which solves existing problems using distributed ledger technology. Fiber is the foundation of blockchain 3.0 and can be best described as an infinitely scalable network of blockchains laid side by side, like strands. This is a technological feat that cryptocurrencies such as Bitcoin or Ethereum will never be able to achieve, as they were never engineered to scale infinitely.”
Skycoin; Medium; Skycoin Fiber Platform – The Future of Blockchain 3.0; 03.04.2018
18
“Another key challenge that demands the attention of CEOs is the increasing fragmentation of the Internet. This trend, fueled in part by security concerns, could by itself stunt future global economic growth. Walled gardens — isolated, secured information systems — are proliferating as countries and regions limit the free flow of data across borders through regulations. Already 13 countries, accounting for 58 percent of the global GDP, have some version of these regulations. Heightened concerns about borderless cyberattacks, coupled with geopolitical tensions, threaten to result in even greater restrictions. Business leaders are already dealing with this reality as they tailor global operating models to countries with more restrictions.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; No Flow Versus Free Flow; 24.01.2019
19
“We are going to publish our most comprehensive article to date on cyberbalkanization and Skywire. Essentially formalising the macro-thesis behind why cyberbalkanization is happening and how Skywire is essential in our fight to protect the borderless, censorship resistant and neutral internet. It is an epic 4 parts series where part 1 alone is over 3000 words. After a lot of research for this series, I think this might even be the most comprehensive article on cyberbalkanization on the entire web period. The original BTC white paper was very concise and the vision resonated with many people right away. Hopefully this series will effectively do the same thing but for Cyberbalkanization instead.”
ChocolateLab; Christianott.co; ChocolateLab – Interviews with the Skycoin Team; 23.08.2018
20
“The solution to this fractured future is an entirely new internet transmission protocol and web service ecosystem. These platforms must be built from the ground-up to be neutral, stateless, decentralized and open-source. Only through decentralization can internet transmission and data storage be resistant to external manipulation and censorship inherent in 3rd-party ownership of user data. Replacing the US internet with a Chinese or European internet merely shifts the problem to a different geopolitical sphere of influence. The new internet must be built on a foundation of peer-to-peer replicating data structures which obviate the need for centralized servers and its associated vulnerabilities. It must be able to achieve consensus on the state of these data structures between millions of nodes. Traffic on this new internet must be encrypted to defeat attempts at throttling and surveillance yet fast enough to seamlessly replace the current internet protocols. Finally, the global digital citizens must be financially incentivized to build this new internet by providing and consuming bandwidth, storage and computation in a peer-to-peer marketplace.”
Skycoin; Medium; Cyberbalkanization and the Future of the Internets Part I — GLOBAL; 27.08.2018
21
“For CEOs, one of the most glaring challenges of an insecure Internet is the economic cost. In the private sector, over the next five years companies risk losing an estimated US$5.2 trillion in value creation opportunities from the digital economy.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; The Cost of Insecurity; 24.01.2019
22
“Worldwide spending on information security products and services will reach more than $114 billion in 2018, an increase of 12.4 percent from last year, according to the latest forecast from Gartner, Inc. In 2019, the market is forecast to grow 8.7 percent to $124 billion.”
Gartner; Official Website; Gartner Forecasts Worldwide Information Security Spending to Exceed $124 Billion in 2019; 15.08.2018
23
“The rising Internet security market is also a hot area for venture capital investors, attracting almost US$33 billion to 2,479 security startups since 2009, exceeding investments in blockchain, which have surged with the interest in business applications and cryptocurrencies.”
Omar Abbosh & Kelly Bissell; Full Research Report: Securing the Digital Economy – Reinventing the Internet for Trust; Keeping Tabs on Cybersecurity Investments; 24.01.2019

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

Skycoin Ecosystem

Skycoin Ecosystem
SKYCOIN
Coin HoursFastFeesSkycoinis a next generationcryptocurrency.
AppsSkywireTransactionsIts parallel currencyCoin Hourshas different use cases:
Skycoin is buildingSkywire,a new internet.InternetSkywire
CustomizableBlockchainProviderExchangeListingSkycoin offers a blockchain platformFiber,that can be used by other applications.
Social MediaGamesMessengerSome of theseApplicationsaredeveloped by Skycoin itself.
AntennasSkyminerWalletThe backbone of this ecosystem is dedicatedHardware, produced by the Skycoin project.
PlatformCurrencyNew InternetAs a summary, Skycoin is an independentecosystem of next generation applications.