Blockchain technology is being heavily used in the generation and sales of energy. ApolloChain is one of these companies. It is an energy trading platform based on smart contracts technology. So if you want to trade energy and you want to use this platform, we are certain that you will be interested in this article.
What Is ApolloChain?
ApolloChain is an energy exchange platform. The tokens of the company are the equivalent to energy and they are used to tokenize the energy that is sold on the platform. This is possible because you can use the tokens (and only them) to exchange them for energy on the platform.
This way, you can buy clean energy from the platform whenever you need it. The smart contracts provide a double encryption mechanism, meaning that no data will be stolen from you if you use the platform. Also, it is more secure because of how blockchain works in a decentralized way instead of the whole network being focused on a single point of entry.
The use of ApolloChain can even save money and diminish pollution because of the solutions devised by the company that reduces the levels of pollutant agents released into the atmosphere.
The company already has a five-year plan that goes from 2018 to 2022 on how to construct a global network and make the company a giant of the energy sharing and exchanging industry.
How ApolloChain Smart Contracts For Energy Trading Platform Works
The company has a device called the ApolloChain Smart Metre, also known as SOL. It uses power line communication technology to transmit data through a power grid cable that will send energy and encrypted information to the user. The device uses AI and smart contracts to work.
SOL’s main features are working in the frequency band of 10kHz to 490kHz, having a maximum coverage of 6 kilometers, supporting LOADng protocol and IEEE 802.15.4 MAC protocol.
The ApolloChain Team
This company was created by an entrepreneur called Craig Nalder, the worked in the energy industry for more than 20 years. Other members are Peter Turnbull (technical partner), Charles Allen (COO) and Roman Voloshin (sales director).
The main advisors are Synth (founder of Skycoin), Daniel Lightwing (co-founder of Castella Research) and Kaicheng Wu (VP of Haitong Securities). The company’s main partners are Skycoin, Gravitas Energy, Caara Solar and PNB Renewables India.
ApolloChain APL Token & ICO Details
The company will use its APL tokens as a way for you to buy energy on the company’s platform. There will be a total of 100,000,000 APL tokens. At the moment, the company is planning on selling 40% of these tokens in an Initial Coin Offering (ICO).
Unfortunately, there is still no date or price for the APL tokens. The sale will probably do not happen before the half of 2018, in any case. If the sale fails, the company will seek private financing.
This looks like an interesting initiative in the energy sector. The company has some strong partners and seem to have its future on the tracks. Everything will really depend on if this company is able to secure its funding, though, as this is a major milestone of the project for it to be successful.