Initial Coin Offering (ICO): WePower

WePower

Very interesting ICO that I have been looking into for a bit.

• What: A group working to help with green energy expansion and funding.

• Why: Green energy is a booming area of research and proliferation. However, there are plenty of projects that are pipe dreams without funding. This platform will allow fledgling companies to raise capital by selling tokens for power that they will produce in the future. For example, if $100 million is needed to start a solar/wind farm in Portugal but their initial investing comes up short, there is the option for selling tokens for their future energy to cover the rest. Alternatively, if they are interested in raising capital without potentially giving away a percentage of their company, this is another option.

WePower opens up investment in green energy to everyone with access to the internet. Much less cumbersome than it is now. And, all of this can be done with advancements in blockchain technology. The first 48 hours of a new auction to support a green power initiative will be solely for token holders, then the general public. Thy energy tokens will be sold at a discount at this time and the current and past energy prices are known.

So how can the tokens be used? By trading them back for actual energy as soon as WePower is up and running local to the owner. They can also be sold on the WePower market before production. Finally, they can be sold at the time of production for the market value of the energy produced.

There will also be a percentage of the funds raised for a given project that will be put towards existing token holders. And tokens which are not sold initially for a new project will be locked out from use for a period of 3-4 years.

• When: the pre-sale starts Feb 1 and it has unfortunately been locked for a while. They are also capping the initial investment for the first several hours to 0.2ETH per investor. After that, the remainder of the tokens will be up for grabs. This is to help get more people invested and keep some of the wales at bay. They also see this as more of an investment in the future and technology than a money making scheme.

under the soft $5 million cap 1ETH = 10,000 WPR and after 1ETH = 8,000 WPR. And 62% will be distributed to contributors during the sales. These funds go towards company growth.

• Team: Seems like a very solid team that involves knowledgeable people in the realms of renewable energy, fintech, IT systems building,

• Progress: They have had a successful pre-sale and have plans of starting with Estonia, where they have a letter of support, followed by Spain later this year and have already garnered interest from a startup bootcamp in Australia. There is also a plan going forward to look at making power distribution system smarter and more efficient, allowing green energy to further penetrate markets which will help them be more competitive against the incumbent power production giants.

• People smarter than me:
  ICO rating:
  

ICO bench:

The reviews are generally positive and there is a huge amount of buzz around the program.

• My take: I think this is a really neat idea. Green energy is definitely the future of energy production both because there are a finite amount of combustible natural resources and it is overall better for our health and the health of our planet. The sooner it becomes affordable, the better. There are significant hurdles for the company to get over, foremost in my mind will be the current grids, which are not designed to strategically receive and deliver energy in a manner that they are talking about. However, if they are successful and can create their own software solutions, this will be mitigated somewhat. Finally, there are huge corporations that control the energy production at this time, and their lobby is strong. For example, in Florida, FPL makes it almost impossible to be energy independent. I'm not sure how bad it is in the countries where they are rolling it out, but I do see this becoming an problem at some point. Most importantly, there is a lot of hype surrounding this company and that translates into demand which translates into $ for your investment. ICOs that I have participated in with this level of interest generally do very well, at least in the short term and if you have the patience, it could pan out to be very profitable in the future.

I don't have any yet, but I will be getting some tomorrow, assuming I get enough time out of the OR to place the transaction.

Past posts:
https://steemit.com/cryptocurrency/@cbk/initial-coin-offering-ico-medicalchain
https://steemit.com/ico/@cbk/initial-coin-offering-ico-well
https://steemit.com/ico/@cbk/initial-coin-offering-ico-rentberry

I'm not a financial planner by any stretch of the imagination, so take this for what it's worth.

I'm also not getting any funds from WePower for this information, nor do I hold a position (yet) in WePower at this time.

Please let me know if there is anything I can do to improve these posts or if there are other health related topics you would like some info on. Thank you!