Claimed to become Amazon for the solar industry, the platform will allow users to purchase renewable products worldwide and earn money for consuming green energy.
Solareum is a new marketplace for renewable energy consumption and provision. By leveraging blockchain innovation, the platform will subsequently offer a decentralized incentive mechanism through its native token, called SLRM.
The Lichtenstein-based startup wants to pay people for using renewable energy, allowing them to claim back tokens when buying green products on the Solareum platform. This way, it hopes to become the “Amazon of renewables”, facilitating direct trading of this type of products.
The platform employs smart contracts, what makes it a dynamic, ever-evolving and transparent system adapting to any challenge that may be thrown in its way. Solareum claims to be the first to be backed by “major renewable companies and contractors in its sector.” The target market, of course, is the renewable energies sector and the actors within it.
Helping to Carry Out Blockchain’s Most Interesting Use Cases
Of all the applications of the blockchain technology, possibly the most exciting is its potential to address climate change issues by helping to eliminate the inefficient use of renewable energy, making green energy, specifically solar, more cost effective. Recently, people have been buzzing about blockchain’s ability to allow people to sell their excess of solar energy to each other on a peer-to-peer basis. Two real projects that are making efforts to leverage blockchain for this purpose are Solarcoin and the Brooklyn Micogrid.
Blockchain’s main innovation is mainly economic – a decentralized incentive mechanism, which was first used to create a peer-to-peer virtual currency (Bitcoin). However, it did not take long for people to realize that it could also be used to make people less dependent on the central power grid by incentivizing small microgrids. Now, Solareum is continuing this effort with its decentralized marketplace that will make it easier for people to sell their renewable energy products.
Solareum Token Sale Details
Solareum will soon be holding the token sale for its SLRM token and plans on allowing people to buy it directly from its official site. SLRMs can be bought directly from the website for $0.70 USD per token. The project aims to reach a relatively lofty fundraising goal, with a hardcap set at 42.2 million USD in honor of Earth day, which is on April 22.
Solareum will accept payments in over 10 different cryptocurrencies, such as BTC, ETH, and LTC. Buyers will also be able to purchase SLRMs with credit and debit cards. The crowdsale follows the private offering which brought the startup more than 1.1 million USD. Solareum is also planning beta testing of the Solareum web application and keeps developing mobile version of the service. The launch of the app on iOS and Android is expected in May.