With the use of blockchain technology sweeping across the different sectors of the economy, one industry is still slow at embracing the revolutionary change. The energy industry has shown little enthusiasm regarding ventures or innovations that can speed things up or transform the industrial markets.
However, that has not stopped the few blockchain ventures from bringing forward a revolutionary concept of peer-to-peer energy trading model. With state-distributed electricity as the primary source of energy, the use of Distributed Energy Grids could bring about an independent and decentralized energy market. Our point of focus today will deal with a blockchain platform that is a prominent case of blockchain within the energy industry.
What Is Energy Premier?
ENERGY PREMIER is a cloud-based and blockchain platform that will allow its users to participate in electricity retail bidding as a gateway to alternative sources of cheaper energy. The venture aims to provide users with energy suppliers in direct access and fair retail energy market through the use of blockchain technology. The next generation trading platform will introduce its Energy Premier Token (EPC) as a currency to provide a safe, reliable and transparent means of buying or selling excess electricity.
How Energy Premier Blockchain Electricity Trading Works
ENERGY PREMIER provides for a streamlined and structured process to facilitate the electricity trading through the tokens. Once an individual or company registers on the platform, they will require obtaining the EPC token to allow for buying or selling of electricity units. From there they can create a request for an offer and wait for the best price among the electricity bidders.
All the suppliers get the request-offer and can choose to answer the request or not. Any supplier who responds offers their price, and the customers get to choose from there. After an agreement becomes final, the EOC tokens are put to use in making the energy contract. The contract will contain general details of the offer, suppliers, and their quotations.
Energy Premier Benefits
There are apparent benefits that come with using Energy Premier. However, these advantages vary according to the party within the platform. Here’s how the users can gain from ENERGY PREMIER’s innovative platform
For the suppliers
- Access to a large number of customers with a willingness to buy
- Authorization power to control access to agents and traders
- One can easily link up with the appropriate buyer through a criteria
- You get to separate the products such as payment conditions, token bids, or energy bids.
For the users
- Access to a pool of energy suppliers
- You can determine the parameters of your bid
- Protection from unscrupulous and unregistered suppliers
- Lower energy costs with no risks of overpays.
Energy Premier EPC ICO Details
Energy Premier EPC token is set to launch with their initial coin offering on March 21st.
Is Energy Premier Viable?
The energy market has a huge customer base, so there is no doubt that ENERGY PREMIER has potential to fulfill its goal of decentralizing energy distribution. However, a significant downside to the project is the competition it faced from more prominent and established blockchain-energy trading ventures.
Unfortunately, this makes the project a somewhat of a replica within the blockchain market. All-in-all, judging from the energy consumption rate ENERGY PREMIER can have significant gains within the energy sector. The vital part will require the platform to carefully choose a good market and have a sustainable implementation. Additionally, ENERGY PREMIER will also have to deal with legal issues to improve their dynamics.