What Is Green Power Exchange?
Green Power Exchange is a modern blockchain-based Peer-to-Peer (P2P) renewable energy trading platform, which offers everyone an opportunity to participate in a transparent and efficient energy trading. The platform has Internet of Things (IoT) integration with a user-friendly interface that makes the process of purchasing power simple, easy to use, and streamlined.
It aims at eliminating the factors that contribute to a slow-moving process in the purchasing of electricity such as multiple intermediaries, legal structures, and black box exchanges. It also aims at directly connecting producers and consumers via P2P in order to ensure that there are cost savings on both sides. The project also allows forward selling of future energy projects, which means that developers could sell power and deliver at a future date.
Green Power Exchange Trading Utilizing Blockchain
Through the usage of blockchain, smart contracts, and tokenization of energy trading, the platform will change the way electricity is purchased. The Green Power Exchange adopts a two level token model, the Green Energy Transfer token and the Green Power Exchange Token.
The Green Energy Transfer Token (GET) is a utility token that will act as a representation of the power that will be exchanged between the producer and the consumer.
Green Energy Transfer GET Token Benefits
- It is backed by real Power Purchase Agreements, which means it represents real electricity
- The token uses smart contracts, which in some instances lowers cost and ensures that power is delivered on time and at the agreed price.
- Through the smart contract, there is accountability by automation of major accounting functions. This results in lower costs and reduction of administrative burdens.
The Green Power Exchange Token (GPX) will be used in the facilitation of funds exchange and be a means of exchange between jurisdictions. It will be ERC20 compliant therefore making the token tradable across the Ethereum network.
Green Power Exchange GPX Token Benefits
- It allows the transfer of energy asset value between producer and consumer across the globe.
- It entitles token owners to access early power auctions and thus saving them more money on their power bills.
- The token is highly liquid, as it is applicable on every smart Power Purchase Agreement on the Green power exchange.
Green Power Exchange Advantages
Forward Trading Of Energy:
Through participating in forward trading of energy, consumers are able to get discounts and only pay for what they use, which in turn results in cost savings on the power bill.
Elimination Of Intermediaries:
Sometimes, unnecessary intermediaries can lead to consumers paying twice as much on their power bill and exclusion of smaller producer. Through the direct, peer to peer trading the platform offers, this obstacle is eliminated and this allows smaller producers to negotiate for more for their power while enabling the consumer pay less.
No Restrictions On Investment:
Participation in the renewable power plant is not only limited to investors with large funds or utilities with significant capital and this can be attributed to the tokenization of assets. Investors from anywhere in the globe can purchase and own part of the power plant at ease and reap the benefits.
Easy To Use:
The platform has a user-friendly interface, which makes it easy and simple to use in the purchasing of power.