Re: [ANN][POWR][UPDATE] *** POWER LEDGER TOKEN SALE STARTS FRIDAY 8TH SEPTEMBER ***
Can someone explain me in easy words how this project works.
My feeling is that it has a few problems.
In order to work they need to partner up with all the major Energy company to use their distribution network.
Why should those company accept, when they can directly buy the energy from the producer for a fraction of the price and resell it for the full price.
How much will it cost to use the Blockchain to store "near real time" report of usage, with the actual eth fee that will cost a lot i guess, and will impact in the energy price.
Please explain in details how this work, because i am interested in opening a quite big position but i still dont have answers to those 2 problems.
My feeling is that it has a few problems.
In order to work they need to partner up with all the major Energy company to use their distribution network.
Why should those company accept, when they can directly buy the energy from the producer for a fraction of the price and resell it for the full price.
How much will it cost to use the Blockchain to store "near real time" report of usage, with the actual eth fee that will cost a lot i guess, and will impact in the energy price.
Please explain in details how this work, because i am interested in opening a quite big position but i still dont have answers to those 2 problems.
I think you misunderstood something important: One of the blockchain's biggest advantages is a possibility of a dencentralized model f.e. the distribution of energy in this case.
It's not about buying from already existing (centralized) distributor but to be the distributor yourself. For example your frienldy neighbor who owns a big solar field.
Theres a big chance that he's producing way more than he can use. So he himself can sell it to you, know you're independent of the big energy companies.
That's as far as I understood the USP
Please correct me, if I'm wrong.