The logistics within the electricity industry looks very good for the likes of the SunContract (SNC) token and the WPR token that currently enjoys a market cap of $74million. The SNC token brings a long term solution to overhead electricity charges that consumers are always complaining about. You would be surprised to know that two thirds of the amount paid for electricity covers overhead costs such as distribution. SNC token targets a market that is mostly monopolized and as a result consumers are exploited.
SNC token stands to play a big role in the improvement of Human Development Index, the token links resources that have great potential if a good model is identified. People have proven that they cannot do without electricity over time; this is why SunContract uses the blockchain technology to link the demand and supply of this market. The vision within SunContract community is to improve lives by making accessible cheap electricity and advanced alternatives such as storing energy within the platform for future use.
How it works
The SunContract (SNC) platform has adopted a different style of operation utilizing an energy pool for its function ability. The platform acts as a broker by linking electricity consumers and producers which is basically more than three quarter of the population in developed economies. Users within the network are expected to buy the SNC tokens for transactions that will involve purchase or sale of electricity. The Energy pool is an important aspect of this blockchain technology as users can only interact here hence exercising the software within SNC and the energy license it comes along with.
Interested users have to initially register via the mobile app in order to access the energy pool. The fascinating simplicity and quickness of smart contracts enable the SunContract platform to approve transactions effectively and fairly. SNC makes it very simple for consumers to get cheap electricity by putting into play the law of demand and supply; one can gain access into the pool and start purchasing electricity as soon as they have completed registration. The SNC app comes with a bonus of hedging producers against risk; this is by having the option of automatic conversion of tokens to other fiat currencies such as the USD.
ICO & PRICE ANALYSIS
During its token sale, SunContract (SNC) had fixed the amount of SNC to Ethers they gathered over time. This is because the team had developed software that was only pro Ether at its token release date. The team issued the tokens at with ETH as the base ratio, for every ETH, 10,000 SNCs were issued. The current supply of the SNC token currently stands at 115.12 million although its 7 day average volume movement had reduced by 52%.
The SNC token which currently trades at $0.39 has been bullish in the last 24 hours increasing its price by over 40%. The coin stands at a position of convincing investors with its low category ranking on volatility, SNC has had a 39%, 5 day volatility which ranks it at 73 out of the 342 Nano Cap coins.
THE SNC NICHE!
SUNCONTRACT P2P PLATFORM;
Based on a phased approach, the SunContract (SNC) P2P Platform will connect energy producers and consumers. Users will be able to trade electricity directly; the final price and quantity will be determined by trading algorithms based on auction clearings on the Blockchain.
IMPLEMENTING THE P2P PLATFORM ON A NATIONAL LEVEL;
Rules for trading, purchasing and supplying, contract signing, invoice issuing differs from country to country. Therefore, a business process with a user friendly interface that is compatible with national regulatory framework will have to be accomplished.
COMMERCIALIZING THE P2P PLATFORM;
A decentralized energy market requires energy producers, consumers and load balancing. Using advancements on smart-grids, end-user customers of the SunContract Platform will also aid the balancing of the electricity grid through demand response.
INCREASING THE TRADING VOLUME OF P2P PLATFORM WITH RENEWABLES AND ENERGY STORAGE;
SunContract (SNC) platform users could by themselves ensure the storage of excess electricity during low demand and the option to release it as demand rises.