As with all other cryptocurrencies, one should understand a coins’ use case before investing in it. Today’s CoinInFocus - WePower, marries the two most forward-thinking concepts of the 21st century: Cryptocurrencies and Renewable Energy.
What is WePower?
WePower aims to solve the problem of commercializing green energy sources. The main problem is, while people want to use renewable energy - they don’t know how to acquire this “golden egg”, seeming almost mythical to some. WePower seeks to realize this and build a mutually beneficial network of green energy producers and common buyers - Decentralizing the process of buying clean energy.
WePower is a token a green-energy producer will issue to customers that help fund their projects.
Customers will help fund a producer, and in return, customers will get WPR tokens for the amount they commit to the producer. These tokens, essentially, represent energy IOUs. These tokens are sometimes sold on the secondary market too - making them a great asset to hold.
How & Where does the WePower Network operate?
Independent Energy Producers will, when asking for crowd and customer funding, distribute WPR tokens amongst investors. Then, once the project is complete and energy production begins - investors will receive energy for the amount of money they invest.
Since the network will exist on the blockchain, it provides complete immutability and transparency. Along with the obvious immutability, since WPR is an ERC-20 token, it will also provide smart contract functionality.
Currently, the WePower network is running a pilot program in Estonia, endorsed by the Estonian Ministry of Energy! WePower plans on spreading to Spain and Greece soon too.
Renewable energy is the future.
Concluding comments on WePower:
Renewable energy is the future. The WePower network empowers producers of green energy and allows safer purchasing of green energy. Maybe not now, but in the future - when renewable energy hits the mainstream market, WePower will most likely blow up.