Electrify has developed an Asia-centric energy ecosystem that uses blockchain technology. It helps producers of any scale trade power the same way large producers do by understanding the power market. Electrify is different from other platforms as it operates on a citywide grid and not on a microgrid. They execute a trade for energy across a citywide grid.
In a live interview today, Jun Hasegawa, the founder, and CEO of OmiseGo said:
“I think the entire issue in the crypto space is stability and that is why in the Ethereum community we always talk about how you can stay on Ethereum. My main focus as an advisor is scalability.”
In the exclusive AMA, Martin Lim, the COO of Electrify said, “We were looking for efficiency in the marketplace and blockchain represented the best solution. So we started developing the concept and searching for contracts.” He also believes that the plasma cash is more foster and more efficient.
He further explained:
“Electricity, unlike other industries runs 24/7 and everyone uses electricity, which is why there is a very high volume of transaction. So if you want scalability and security and want a better medium for blockchain but if it is slow and expensive, then it defeats the purpose.”
For the operations and development of the platform, security, scalability, and efficiency are very important.
He is also interested in the social impact that the platform will have. He said, “If places like Uganda and Nigeria use electrify and get more energy than they need, they can sell it and improve their overall life and status in terms of education.”
Julius Tan, the CEO of Electrify explains that blockchain and crypto are not only about speculation and prices and it has a positive value. However, without scalability, it is difficult for blockchain to gain wider adoption and this problem could be solved by focusing on an infrastructure like OmiseGO.
The crypto community is very small and bringing the right person to the team is important. Electricity is a consumer product that requires stability.
“What we wanted to do was to remove the barriers associated with trading and selling power. Traditionally, the power industry is highly dominated by big power companies but slowly we are seeing a shift from centralized to a decentralized network. There needs to be a way in which people consume energy and sell it.”
Lev Rush, a chemical engineer commented:
“Hope this coin does really well. Strong team with a lot of integrity.”
Source: Read Full Article