Topic: Electrify.Asia ICO Review - page 3. (Read 13267 times)

My pleasure. Great team, awesome project. Future is bright. 

Thank you Amalgamus for the Channel News Asia Money Mind piece and also your previous post re: the purpose of an ICO. In the Money Mind segment it was great to see Julius equally featured with the other spokespeople and to hear him talking about an energy share economy...then followed at the end by Assistant Chief Executive Energy Market Authority, Soh Sai Bor cautiously calling Electrify's P2P Energy Trading Market place "nascent". That just makes me more excited for Electrify Asia's future and I'm rooting for success!

Catch Julius as he shares his thoughts on Episode 4 of Channel NewsAsia's Money Mind!

Rerun timings for the episode air tonight, Monday, at 9.30pm and 12.30am SGT on Channel NewsAsia.

https://www.channelnewsasia.com/news/video-on-demand/moneymind

More honest ICO around:

plasmo, [23.04.18 13:23]
[Forwarded from The Martinator ⚡️]
At the risk of sounding like I've given in to hubris, please let's pause a little about all this talk of investment.

Please do scroll up and have a look at what I'd posted earlier on the value of our tokens and the purpose of an ICO.

And ICO was initially a mechanism for a startup to raise funds through crowdfunding. The high risk nature of crowdfunding and the decoupling from equity is compensated by the contributor having quick and easy liquidity through a third party, i.e. an exchange, or any other party expressing an interest--like an OTC exchange like Etherdelta.

The ICO was also a means for the startup to garner support and build a community who would be interested in the project for its merits, not necessarily how much they can make off the tokens.

If a project was just concerned about making an investment, they would have just gone to large pools, whales and institutional investors and closed everything at a Presale.

While we were badly oversubscribed even at Presale, we stuck to our guns and kept a full third of our token distribution available for the Tribe. We even turned down most of the offers at Presale for strategic contributors who would be able to contribute to the growth and well-being of the project and our Tribe.

Vitalik spoke about the dangers of ICOs because:

a) Contributors confuse themselves with investors and constantly harp on when the tokens will "moon" when the startup's founders really have no ability to make those promises

b) Too many ICOs have had their tokens pumped and manipulated unscrupulously leading to too many uninformed, unqualified and misled "investors" getting burned

With the guidance and advice we got from our advisors, we designed our ICO to stay as true to the foundation of fundraising spirit as possible:

a) No bonuses
b) No bounties
c) No advertising spending

In fact we'd deliberately escewed any blatant activity to "elevate" the value of the token, in and of itself.

We do not speak about exchanges, to avoid any overt act of "FOMO", we do not attempt in any way to "pump" the tokens and we most certainly do not tout our tokens as an "investment".

What we do deliver are progress reports of what we have managed to achieve, as eager founders, about the connections we've made and the progress we've achieved, as an when we've achieved them.

We do this without any sense of hubris and genuinely from the position that out Tribe deserves to know what the project they supported is up to; that the faith our Tribe has placed in us isn't unfounded.

Trust me when is say this: if the Electrify Team was focused on "investments" and "marketing", things would have gone very differently. We were so heavily oversubscribed, we could have just succumbed and "taken the money". But we stayed true to our principles and our Tribe, and took the harder road.

Compare Electricity Online with ELECTRIFY.SG: https://www.youtube.com/watch?v=RP5qupxGAlI

http://boards.4chan.org/biz/thread/9041914

What is Electrify Asia and how will it revolutionise the energy world: https://oracletimes.com/what-is-electrify-asia-and-how-will-it-revolutionise-the-energy-world/

Good project and must join airdrop.

https://medium.com/electrifyasia/working-on-research-and-development-9e8ec9e96b84

Copy/paste from Telegram:

Tom Thompson, [19.04.18 15:27]
[In reply to H.]
Here you go:

* Electrify Asia is creating a decentralized marketplace for energy in Asia.
* Will help both consumers and producers. More choice. More savings. More transparency. Less barriers for alternative energy sources.
* Builds on an existing business running successfully since March 2017.
* Already working product that has produced $4 million since being in business.
* Based in Singapore, the place for innovative blockchain projects. One of the most crypto friendly countries.
* Marketplace will feature commercial retail contracts, p2p energy and conventional providers.
* The ELEC token will allow the producers and retailers to access Electrify Asia’s ecosystem. Retailers and producers will be required to stake their ELEC as a deposit to offer their energy in the marketplace. Transaction fees will also be paid by energy providers using the ELEC token for the usage of Electrify Asia’s smart contract platform.
* Distributed ledger technology will allow every participant to have an identical copy of their contract details, monthly or periodic energy usage, settlement details and energy fees.
* Decentralizes a heavily centralized utility marketplace. Will transform the industry. This is exactly what blockchain projects should be doing.
* Practical use case.
* Will expand to Philippines, Japan, Vietnam and Australia.

Other stuff

* CEO, Julius Tan, was featured in Forbes 30 under 30 in Asia.
* Founder of OmiseGo, Jun Hasegawa is an advisor. Jun will be assisting with direction on blockchain scalability and payment solutions for Electrify Asia.
* "Reason why I’m confident this project, because Electrify has real business going on and that indicate real world business that bring real value to consumer level. Also there is significant requirement of scalability which what OmiseGO solving with Plasma " - Jun Hasegawa, founder of OmiseGo
* Jeffrey Char, head of blockchain initiatives at TEPCO (biggest Electric company in Japan) is an advisor.
* Martin Lim (COO) is constantly putting himself out there, doing interviews and going to conferences.
* Power Ledger of Asia to put it in simple terms. Power Ledger is Australia only and is 6x the market cap of ELEC.
* ICO went extremely smooth and handled well.
+ Active community, 10k members in the telegram group with Martin Lim (COO) and even Jun Hasegawa (founder of Omisego) joining in occasionally.
* Still cheap and early as hell.

New business partners in Japan: https://www.youtube.com/watch?v=zeXaDeeRXRs&feature=youtu.be

https://eventhorizon2018.com/
Jeffrey Char from Tepco and Electrify Asia's advisor will be speaker in this event.
Also, Martin Lim will will present Electrify Asia business model and innovative solutions among some other 40 start-ups.
Venue in Berlin from the 17th to 19th of April;

The ecosystem is built for the benefit of the public and should be owned by the community through ownership of ELEC tokens. The rules set in the ELECTRIFY ecosystem below are designed to promote these objectives:
Electricity retailers and distributed energy producers (Energy Providers) will be required to stake their ELEC token as deposit to participate and offer their energy onto the marketplace. This helps to promote ownership of the ecosystem and disincentives fraudulent activities.
Transaction fees will be paid by Energy Providers in the ELEC token for the   usage of Electrify’s smart contract platform   
Consumers will receive loyalty rewards based on the ELEC token via a tiered model, corresponding to their duration of usage of the platform and the amount of ELEC tokens they own.

You are doing a great job! Have a nice day for the project

The Martinator ⚡️, [14.04.18 03:17]
[In reply to Felix Chia]
That's hard to say. We're only scratching the tip of the iceberg.
On the last trip to Tokyo, I was there 2 and a half weeks and almost every day I was having meetings with energy companies, asset owners and even Nomura Securities, one of the biggest financial houses in the world.

The Martinator ⚡️, [14.04.18 03:27]
We're focusing on Japan now... And even at the nascent stage, we're gather so much interest.
TEPCO will be our "big brother" for that market.

Peels, [14.04.18 03:27]
Were not all moonkids here Martin! Thank you for the updates and information 👍

The Martinator ⚡️, [14.04.18 03:27]
We're also talking to a couple of other big players in the retail electricity space there to deploy our other solutions... Like Fibonacci, the dynamic pricing engine

The Martinator ⚡️, [14.04.18 03:28]
So let's say we get some small gains in Japan... Where a reduction in revenue will drive producers to adopt Synergy

Now imagine this...
Every other renewable asset owner in the world...
Every solar farm.
Every wind farm.
Every factory rooftop.
Every body who has a rooftop that has a solar panel.
Anyone with a biomass generator...
They all find out that Synergy can allow them to sell power directly P2P, recover capex faster, reduce opex...
How much of a market is that, guys?
How much do you want to moon?

The Martinator ⚡️, [14.04.18 03:31]
And that's why we don't even talk about the moon

D, [14.04.18 03:32]
100%?

The Martinator ⚡️, [14.04.18 03:32]
And beyond just the earning potential of the business... Think what this means for renewable energy on the whole...

Jordan, [14.04.18 03:32]
i see allot more ppl have soloar panels

Jordan, [14.04.18 03:32]
espicially in cali

The Martinator ⚡️, [14.04.18 03:33]
There will be more interest... More development, more research... All because, as #Vitalik had said before, there's an economic incentive for good behaviour

Felix Chia, [14.04.18 03:34]
How much does an average household produce using Solar panels etc, is it enough for them to sell after producing for themselves?

The Martinator ⚡️, [14.04.18 03:34]
That depends on the size of the panel and their own consumption.
But generally yes.

Felix Chia, [14.04.18 03:34]
Nice

The Martinator ⚡️, [14.04.18 03:34]
Because a household consumption profile is inverse of a normal load profile

The Martinator ⚡️, [14.04.18 03:35]
What that means is this:

The Martinator ⚡️, [14.04.18 03:36]
In the day when you're producing power at home, you're not there to use it!
Someone else running an office can buy that from you to offset his consumption and save on his power bill, since day prices are higher anyway

The Martinator ⚡️, [14.04.18 03:09]
The energy market in Japan is in flux. Post-Fukushima, nuclear power was very rapid phased out.
Govt provided a lot of incentives to build new power assets, a lot of it solar.
Key to this was the Feed In Tariff (FIT)

The Martinator ⚡️, [14.04.18 03:10]
A FIT is like a bonus that the govt pays on every unit of energy generated. It's extra revenue for the asset owner and made the projects very lucrative

The Martinator ⚡️, [14.04.18 03:10]
But FITs end in 2019

The Martinator ⚡️, [14.04.18 03:11]
So imagine a whole country... Where every solar farm operator used to receive an extra bonus... Suddenly that's cut off

The Martinator ⚡️, [14.04.18 03:11]
They're back to relying on selling their power to the big boys, likely settling at a wholesale price...

[Exclusive] Singapore blockchain firm ELECTRIFY takes major step to bring its P2P electricity marketplace to Japan: https://e27.co/exclusive-singapore-startup-using-blockchain-build-p2p-electricity-marketplace-inks-major-mou-20180413/

ELECTRIFY: Supporting Communities
https://medium.com/electrifyasia/electrify-supporting-communities-2a4c9f50a29a

ELECTRIFY is driven by a fundamental desire to create bonds between communities and delivering value to the same. We started out as Singapore’s first retail electricity marketplace and are now Southeast Asia’s first such platform. We’re bringing electricity retail into the blockchain era through the use of smart contracts in electricity plans and peer-to-peer energy trading on a city-wide scale.

The benefits of transparency and traceability, along with the efficiencies of smart contract processing, will benefit communities far and wide as we look to grow our ELECTRIFY Tribe to bring about a more dynamic and robust energy future.

With the values deeply engrained in our DNA, we’re proud to have been invited to participate and contribute to two very prominent events in the blockchain space, announced this week.

First, the launch of NEUTRINO, a co-working space initiative that’s been developed jointly by OmiseGO and Global Brain Corporation. One is a brilliant example of a leading blockchain project that’s leading Plasma development for Ethereum, and the other is one of Japan’s leading venture capital funds.

NEUTRINO was born out of the experiences many blockchain companies suffer today: the lack of blockchain engineers around a nexus of information sharing. The blockchain industry is a rapidly expanding space but the availability of good developer talent is scarce. NEUTRINO will support and nurture this community by creating a blockchain-focused co-working space that’s Asia-centric. Their first space will be a 290sqm space in the heart of Shibuya, Tokyo.

ELECTRIFY is proud to be one of the founding sponsors for this exciting new initiative. Housing OmiseGO’s office, ELECTRIFY will also be making NEUTRINO its home away from home. This venue will form the basis for a global information exchange hub for blockchain development that will expand into Asia and beyond. This will also be ground zero for ELECTRIFY’s expansion plans in Japan’s electricity market! Hit up http://neutrino.tokyo for more information.

The second piece of news revolves around the launch of the new Ethereum Community Fund, which was announced on 7 March 2018. This $100M fund will provide much-needed funding and connectivity for projects that will pave the way to a better future for the Ethereum community. The ECF grants will be made available for projects developing solutions in sharding, scalabilty and security. But more than just a free handout, the ECF will also provide technical advisory, mentorship and a stronger access to a network which allows the best blockchain projects to showcase their innovations and collaborate in development.

ELECTRIFY is honoured to be one of the Founding Contributors to the Ethereum Community Fund, alongside other founders such as OmiseGo, Golem, Cosmos, Raiden Global Brain and Maker. Through this, we hope to be able to make a significant contribution to the future of Ethereum and blockchain development as a whole. The ECF will go a long way to encouraging and developing more needed services and solutions for the Ethereum community, taking yet another step towards making blockchain accessible to millions of people around the world.

Decentralisation and democratisation is core to the concept of a blockchain. And none of what we do can be possible without the support of our Ethereum communities; none of what ELECTRIFY is trying to do would be achievable without the support of our ELECTRIFY Tribe. Through these developments, we hope to be able to do our own small part to contribute and support the Ethereum community at large.

Impressive project, especially now that they are actually operating. There is a very little information about the  dev team.

Looks like a cool project. Team is based out of Singapore.