SunContract, the world’s first live blockchain-powered peer-to-peer platform that empowers individuals to freely buy, sell or trade electricity was launched on April 13, 2018.
In a high-profile event attended by officials from the European Union as well as the Slovenian government, SunContract, slated to revolutionize the monopolized energy market, was launched.
During the event, SunContract signed as many as 10 partnerships with energy sector partners as well as Blockchain partners. The company promised to provide more information about these partnerships in the coming weeks. Gregor Novak, CEO of SunContract said he was ecstatic with the partnerships they had signed.
“This proves that there are people and organizations that believe in our vision. The energy sector has been monopolized for long. Not anymore. Our platform gives the power right back into the hands of individuals, especially home owners, who can choose who to sell and buy energy from,” said Mr. Novak on the occasion.
In a market flooded with blockchain projects, SunContract finally brings an application for a crucial real world problem in the energy sector. Currently, there are dozens of individuals in the general public who are receiving their electricity by way of the SunContract platform. They do this by purchasing SNC tokens which they then use to buy electricity.
Each user of the platform is therefore required to have at least 1000 SNC tokens at any given time – an amount that is enough to cover electricity costs of at least 2 months. The project is currently being implemented in Slovenia. Its assured success, starting from Slovenia, will open up exciting possibilities in retail markets and such a business model is bound to be replicated all around the world – beginning in the European Union where they have received support from the government and reputable EU commissioners.
The philosophy underlying SunContract is pretty straightforward. Homeowners can now choose to become completely energy self-sufficient. They can choose to buy energy from other individuals who generate energy from the sun or other natural methods and they can also sell their surplus energy to members of the SunContract community.
Through the platform, individuals can also buy solar power plants, heat pumps and storage units and select between a wide array of energy products and services. The platform also gives the power to decide on how much to pay for and sell home-generated, green and blockchain-backed energy. Through the platform, SunContract aims to create a self-sufficient, eco-friendly, green energy community.
The underlying blockchain technology ensures complete transparency and trustworthiness. Company officials said that they were in the process of streamlining the technological interface with the help of various partners to make the platform accessible globally in their effort to help create a community that supports small energy producers and connects them with individuals who would wish to buy energy from them at a much cheaper rate. The paramount aim of SunContract is to create a clean and green environment for future generations.