What Is Jolt?
The Jolt technology platform is one of the most promising technology-based blockchain projects of 2018. It is a system, which has a goal of boosting the use of electric vehicles by ensuring that there are enough recharging start in everywhere. Homeowners and businesses that become part of the Jolt ecosystem will have a chance to become a power-sharing station. These people can then charge owners of electric vehicles with rates that have a set cap of Jolt Gas Coins (JLG).
What Problems Does Jolt Seek To Solve?
The main downside to owning an electric car today is range anxiety. Most electric car owners have a fear that they will run out of juice in the middle of nowhere. It is made worse by the fact that most EVs have a range of just 75 miles. That is less mileage than most people require for their activities daily.
Another issue is that most drivers install a charging station at home.
This is not needed as you can use the EV at work or at various public places. However, most EV owners have a charging station at home, which cuts into cost saving made possible by an EV.
However, one of the biggest issues with EV is that there is a lack of a robust network. Today, the number of gasoline stations exceeds EV station many times over. Recent reports show that there are 16 thousand charging stations in the US. In China, there were 190 thousand stations by the end of 2017 with plans to grow the network to 800 thousand. When more charging stations are established, it will help to eliminate the range anxiety seen today.
The Jolt EV Charging Blockchain Network Solution
Although plans to increase charging stations are coming along nicely, they may not be enough. That is why Jolt plans to release apps for Android and iOS. These apps will allow users to locate charging stations close to them. The crypto developed by this project will be used for quick and easy payments.
People already own chargers at home. There is no reason they cannot monetize these chargers since they do not need to charge their vehicle all the time. All a user will need to do is register their location and the charger they own. This way, when EV owners run out of juice, they can simply check someone close to them and plan their route along that path. The project will eliminate all fear that EV owners have today about range.
Jolt JLT Token ICO Details
There will only be 40 million Jolt tokens ever created. Out of this number, one million were pre-mined to cover the costs of running the Jolt platform. The Jolt tokens are not securities; they do not present any ownership in the platform. Rather, they are used for payments on the platform.
During the ICO, only 25% of JLT tokens were released to the masses. Token holders will then have the right to vote on the release of tokens to the development team after each milestone. Right now, the wait is for the launch of the Jolt Apps in Android and iOS slated for Q2 2018.