Finding ways to break into the cryptocurrency world is something that every investor needs to discover. Most companies provide an option for bonus tokens, or even to get a debit card that lets the investor spend it. However, there are some government entities around the world that are trying to integrate crypto trading and blockchain to their economy as well. In Asia, consumers may consider investing in Electrify.
What is Electrify ELEC?
Electrify’s main focus is the security and transparency of the retail electricity marketplace, predominantly in Southwest Asia. The company has only been in business since March 2017, but they have already transacted more than 30GWh of electricity, which is equivalent to a GMV of over $5 million. The unique part about this campaign is that consumers can use cryptocurrency to purchase energy privately from various suppliers and producers. Everything is performed on the SYNERGY platform.
Currently, the company is establishing retail electricity contracts for consumers to purchase from. However, the company has a whole system established for how consumers will be able to meet their profit and purchasing goals:
- Everything goings through the Marketplace 2.0.
- From the Marketplace, consumers can claim smart contracts, or engage in peer-to-peer energy trading.
- All the funds to participate are stored in the eWallet and PowerPod.
The Marketplace 2.0 can be accessed from a web application or a mobile platform. This is where all the consumers and investors connect with the private energy sellers.
Synergy, the platform, allows consumers to get their energy from smaller producers. With no middleman, all parties can focus on value and profits.
The eWallet is how the consumer will pay for anything that they want to do with Electrify.
The PowerPod is a smart device, which consumers will use to track the amount of energy that they consume. This data will be recorded to ensure that consumers know how much of their cryptocurrency to contribute.
One of the only downsides about this plan is that the registration is presently closed. Additionally, there is no opportunity to purchase tokens at this time.
Even though the Whitepaper is available on the website, consumers may have other questions about the company that they want to address before using it for their energy supply. There is no phone number or email address on the website, but consumers can visit their social media profile to submit questions.
Electrify ELEC ICO Summary
Electrify is one of the only cryptocurrency business that actually does not require that the consumer transfer their currency. Instead, the ELEC token will not be issued until the ICO creates an opportunity to sell the tokens. When the main sale occurs, that is when consumers can expect to find out the conversion rate.