Trading green energy on blockchain is soon becoming a reality after WePower (WPR), in collaboration with Elering made clear their intention of tokenizing the energy sector. Elering is a power transmission firm based in Estonia and the collaboration with the blockchain startup is a ground breaking move that will see a disruption in the energy sector.
The power digitalization project will run for one year within which the power of blockchain through WePower and Elering will be put into test. As a green power trading company, WePower seeks to provide an environment friendly power trading platform that will see the world shift from the convectional and less environment friendly power.
Increased Interest on WePower (WPR)
WePower is the first crypto based firm to digitalize green energy and working together with Elering in Estonia is a huge boost for the coin due to the unique nature of the project. After the announcement, the WPR coin demand appears to be headed to the moon after gaining over 20% against the dollar in just 24 hours.
At the time of filing this report, the WPR token was trading at $0.037722 with 20.81% gains against the dollar, 21.51% to BTC and 21.51% to Ether. The WPR price surge might not be a long term surge but the one year project will be the defining moment for WePower.
According to sources at WePower on the collaboration says that:
“The successful delivery of the landmark nationwide energy tokenization pilot project”, WePower and Elering have paved the “the way for the digital revolution of the energy sector”.
The WePower CTO, Kaspar Karleep added:
“Projects of this scale and ambition haven’t been attempted before, in part because of the complexity involved, but also because energy data is highly sensitive”.
Estonia Superior Infrastructure Ideal for WePower Compatibility
The beauty of Estonia is that infrastructure is ripe for the pilot project since their metering system meets the digitalization threshold. The smart metering by Estfeed makes it easy for the WePower and Elering to integrate their systems during the test period.
The system makes it easy for the power consumers have access to power provider data bases which they can download and share with other users through the power trading companies of their choice. The system is highly transparent and the consumer has the ability to track their consumption and share the surplus with others and earn from excess energy.
WePower seeks to eliminate the middleman in the sector as consumers will be buying directly from the producers and this will significantly reduce the cost of energy. Through Estfeed, sharing data among producers and consumers makes the process seamless and easy for the Estonia citizenry.
WePower and Ethereum Support
WePower rides on the Ethereum ecosystem and the smart contracts are ideal ingredient in the trial project.
“Ethereum is mature enough to accommodate contracts with multi-year terms. However, while Ethereum is currently one of the most mature blockchain solutions supporting smart contracts, a fully decentralized application for large-scale autonomous usage is not yet feasible for WePower’s purposes”.
In addition WePower is currently providing a hybrid remedy to the green energy sector:
“Although the current platform and its core features can run on the Ethereum blockchain, to achieve WePower’s full vision some different blockchains will be tested to find the best fit for large-scale infrastructure projects”.
With such a high level project, the WePower prospects are on the rise and once the concept works for the Estonian authorities, rolling the same out to other countries will mean increased WPR demand and value growth. If you are looking for a long term crypto investing project, WePower is a good candidate for your stakes.