Electric Blockchain: The Revolution That is Transforming the Power Industry
Blockchain technology continues to show its versatility in 2018, making waves across numerous industries. While commonly associated with financial services venues or cryptocurrencies, the technology also has proven to be important to the electric industry, with the potential to disrupt current means of consumption.
In light of this development, many firms have opted to explore and leverage this technology. This includes Robotina, a Slovenian-based venue that specializes in automation technologies. The group has been working to harness the blockchain to help redefine the future of the energy industry that as of 2016 eclipsed $1.4 trillion.
Robotina is no stranger to technology and automation space, having originally been incorporated back in 1990. Unlike many other venues that have only recently initiated their operations, the group has been in existence for nearly two decades and currently employs more than 50 experts in the field of smart-technology development.
The company has successfully implemented its projects across a total of twenty-five countries, and in the process put together an impressive list of clients, including Microsoft, Panasonic, Sharp, and Hitachi, among others. Robotina’s latest project however constitutes its most ambitious and important work yet.
The company is developing a newly optimized platform that combines artificial intelligence (AI), Internet of Things (IoT), and blockchain technology to optimize electrical energy consumption in a sustainable, eco-friendly way.
An intelligent platform
The platform’s purpose will be to reduce electricity consumption and lower costs for both users and producers. This is easier said than done, though working in the group’s favor is the advent of blockchain technology, which has quickly disrupted even the most rigid industries in recent years. In turn, the platform will seek to optimize the functioning of electricity networks while also help protecting the environment.
Reducing the carbon footprint of its operations has remained a core goal for Robotina, while at the same time also pursuing eco-friendly means. The actual framework of Robotina’s platform is intuitive yet quite simple. This includes the monitoring and controlling of real-time electricity consumption and distributed production.
Integrating household devices and appliances can facilitate the sending of anonymous data about usage habits to the platform. That data is then processed and offered to energy producers and distributors, who can use it to optimize the network and reduce costs for all involved.
The platform operates as a system of connected devices, digital machines, objects, and (anonymous) individuals. These components of the platform each have unique identifiers, and can transfer data over a network without any human-to-human or human-to-computer interaction. The entire workflow process is fully automated as well.
ROX: The green fuel powering Robotina’s ecosystem
Blockchain technology allows the platform to utilize Robotina’s Utility Token (ROX), built on the Ethereum standard as its main currency. Consequently, Robotina is using an Initial Coin Offering (ICO) to crowdfund the project. This ICO isn’t just aimed at cryptocurrency enthusiasts; rather anyone who believes in a smarter, greener future is encouraged to join.
The presale of ROX tokens began back on February 21, 2018, while the ICO crowdsale starts as early as next week on March 21. The average token price is set at $0.05, with the presale hard cap pegged at $15.5 million. Of note, the ETH/ROX ratio will be calculated for each phase (presale/crowdsale) separately. Robotina invites everybody who wants to take part in this energy (r)evolution to visit their ICO website and fill out the KYC form.
Numerous benefits for collaborators
Optimizing energy distribution and generating savings for users aren’t the only benefits of Robotina’s platform. In addition, the newly developing platform will also have its own marketplace. This means that each collaborator will have the opportunity to engage in:
- The group buying of electricity
- Power trading with networks that need extra energy resources;
- Aggregated data sale, and;
- Crowd financing of further platform developments.
The majority of earnings will be given back to the community. Robotina’s smart platform is entirely vertical, with a bottom-up architecture, including consumers who will use hardware and software developed by Robotina, as well as collaborators, electricity distributors, and energy producers.
This isn’t just any old business launching an ambitious ICO. Robotina’s will look to leverage its proven experience and extensive expertise, in tandem with several state-of-the-art technologies. With the upcoming ICO, Robotina will look to finally shake up the power industry as well, while looking to install a set new standards. Interested individuals should consult the group’s whitepaper for more information.
Disclaimer: The content of this article was provided by the company, and does not represent the opinions of Finance Magnates. Finance Magnates does not endorse and is not liable for any content presented on this page.
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