In Britain (the homeland of CryptoBlubber and therefore my most relatable example) we have what we call 'the big 6'.
No this is not referring to Man City, Man Utd, Liverpool, Spurs, Arsenal and Chelsea but rather to the six huge energy retailers (British Gas, EDF Energy, E.ON, Npower, Scottish Power, and SSE) who supply over 80% of Britain's energy (gas and electric) to British consumers. These big firms usually makes national news every year when energy prices rise substantially again. Unfortunately they have been able to get away with charging ridiculous prices for energy for years due to their domination of the market.
However, if I was to tell you that back in 2004 these 6 companies supplied 100% of the energy, we can see that there is a trend for consumers to look elsewhere for energy in order to bring down costs.
With all the talk of carbon emissions, global warming, global increased energy consumption and depletion of our non-renewable energy sources, the use of energy from renewable (green) resources has been rising, particularly across EU nations.
Taking the UK as an example again, the second quarter of 2018 saw 28.1% of the UK’s energy being generated by renewable energy sources. This figure is up from the 5.9% generated in the same period in 2010. This can be put down to two factors.
1) the 5th sunniest summer on record combined with high wind speeds
2) the huge increase in large offshore wind farms and solar installations
The UK renewable energy percentage is expected to grow to 75% by 2030.
This chart (albeit from 2015) shows the increase and targets of renewable energy percentages across the EU.
So where does SunContract fit in....?
SunContract set out to eliminate the need for retailers with a focus also on the generations and usage of 'green' energy.
They are creating an open decentralised energy market through the implementation of Blockchain technology and smart contracts.
SunContract is an energy-trading platform connecting independent producers (including individual households) and consumers without the need for retailers in an effort to cut down energy prices and increase renewable energy usage and generation. It is essentially and excitingly a market with an aim of energy self sufficiency while conserving the environment. Consumers of electricity are able to agree on a price with producers whilst domestic producers are able to earn a residual income on their surplus electricity. Further more consumer can decide the origin of their energy.
Imagine a scenario where you can buy or sell electricity with your friends and neighbours from domestic solar installations for example!
Just as impressive is the simple nature in which the platform is accessed via the SunContract mobile app. Easy to register and simple layout. Available to download now from google play store. Also there will be no need to purchase/sell SNC on exchanges as this will be done directly on the platform through an integrated SEPA fiat gateway which will enable the conversion of euros to SNC tokens for day to day transactions.
This fun video from the SunContract website explains the basic outline of the project brilliantly...
SO WHEN ADOPTION?
Probably the most exciting part of this project is that the platform is already being used as of April this year in Slovenia. By the time it went live, it already had around 1,000 users. The CEO described the current user base as enough to fill a large village in Slovenia. These users, despite the platform being in its infancy, are already seeing 20-40% reductions in energy costs. If you head to the telegram group (which I will post below) there will be users of the platform available to give you their feedback.
An example of p2p daily consumption on the platform..
According to the CEO they "have signed a number of contracts for 2019, including with business users, after only having household users in our system".
According to several interviews and articles with the SunContract team they have interest from EU officials as well as a keen interest from countries in Asia, including China. Their plan is to expand beyond the Slovenian borders in 2019. One initial goal would be for SunContract to have a market in one county from every continent in the world.
My initial guess would be that SunContract will move into other EU nations initially. Their has been a recent agreement to increase renewable energy amongst EU members and the energy market across the EU is currently easily accessible with far less restrictions than other countries worldwide.
There is more to see regards this project than the above so please visit website and the fantastic unofficial community page which has up to date videos, interview, updates and articles to learn more about this exciting project including recent exchange news, Microsoft partnership and more.
SunContract CEO: MSc Gregor Novak
SunConract token: SNC
Circulating supply: 119,775,804 SNC
Telegram Group: t.me/suncontract
One huge selling point of SNC has to be the live product currently being used in Slovenia. Many projects can spend years getting to this stage and some might never get there. If they can expand the usage in Slovenia via marketing and the excellent FIAT gateway implementation, then other countries are bound to take notice.
In order for a blockchain project to obtain global adoption it needs to solve a problem that actually required solving, SNC solves two:
1) the need to increase renewable energy usage as a percentage of overall consumption.
2) the need to provide cheaper energy solutions for consumers.
I also believe that Cryptocurrency projects which can be used in every day life without the consumers understanding they are using Blockchain technology have a greater scope for success. SNC can certainly fall into that bracket once it has wider and more general adoption.
It is another project I have covered which really shocks me when I look at its current price and market cap. There are many 'Cryptos' out there with no live product, doubtful need for solution and less viable use cases that sit with a much higher Market Cap and price at present.Of course as always, DYOR, but this looks like a fantastic project with a huge 18 months ahead.
Blubber CMC ranking prediction 2019: 80-100 (potentially top 40 with more countries adopting)
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