I liked the idea of tokenizing the green power market, but I think this project is not the first one who applied for this idea, you can check Power Ledger, anyway, the competition brings better results for both projects.
Have you decided the exact date of the ICO?
Hi Jack1111,
True, both projects are trying to change the energy market. However, both project have different path and strategy. WePower is green energy trading platform, where everyone can finance set up cost of renewable energy plants. While PowerLedger is a platform where people can buy and sell surplus solar energy.
When comparing WePower with Power Ledger or Grid+, or any other non-blockchain based technology aiming for similar business models, it is important to keep in mind two aspects - systems complexity and non-standardized business rules. Few points to be stressed:
1. Complexity. Although all of these startups will most likely solve the Ethereum smart contract part of the technology in a similar fashion, most likely all the other required components will be done in very different ways. We believe that extensive inside knowledge of energy grids will give us an advantage in solving these problems and thereby make our tokens more valuable in the long run. The use-cases being proposed by all of these startups require integrations and interdependencies with other systems. Also verification and validation requirements are much higher as energy is a critical infrastructure.
2. Non-standardized business rules. Although energy follows the same physics everywhere - it varies in engineering and often varies wildly in rules and regulations - which mean that business logic on different continents will differ. This means that scaling in the energy sector is slower - barriers to entry are higher. We believe that our inside knowledge of the European energy market will give us an advantage on scaling faster than the competition.
3. The energy sector is huge beyond belief. The mission of accelerating decarbonization of the energy system through expansion of green energy finance options - we need more startups and more people on this problem, not fewer. This is too much for one group. We view ourselves in cooperative competition, rather than outright rivals. After all - we all share the same mission.
Cheers,
WePower