A blockchain project is bringing power through renewable energy
A blockchain project is seeking to bring clean energy and resources to regions without to basic infrastructure needs. EtainPower CEO Steven Dong says the hurdles come from finding suitable projects and investors.
Steven Dong, Founder & CEO of EtainPower
Dong is working to bring affordable, clean energy through blockchain. Dong discovered investors and projects don't want to get into the renewable energy business due to limited financing opportunities. The CEO is looking to counteract this monetary issue with his platform.
"A lot of banks or investors are unwilling to put in money and effort because of low returns, low equity, and high skills. So through our platform, individual investors can contribute their efforts to help establish renewable energy projects in remote areas. They can put 100 or 1,000 dollars into some micro grade projects.
EtainPower has a three-stage strategic plan. Their first step is building the financing platform on blockchain - which Dong says they will have ready to release this September. If a project wants to build a solar plant, for example, projects can apply on the platform to get funding. EtainPower will feature a tokenized economy where individuals can receive cryptocurrency from institutional investors. Once the financial platform has their token circulating in the ecosystem, the company plans to attract a high-profile client. Dong has a clear interest in attracting high-profile companies like Tesla and Hertz.
"Our energy token can be accepted by those clients. If Tesla wants to build a charging station in California, we can reach an agreement to have them accept our token as energy payments when owners charge their cars. We also want to talk to the San Francisco Exploratory Museum, a building powered by renewable energy sources."
The CEO calls his "energy consumption diversification". Token users can spend their cryptocurrency on electricity bills and other services. The last stage of the plan involves using the smart grade technology to manage energy consumption. His venture into the renewable energy sector helped bring in over 40 renewable energy projects who committed to his platform when it launches this September.
"From an investment perspective, people are willing to contribute their efforts to these areas to help promote and develop renewable energy projects. That's definitely a big impact for the society. People want to see some revolution and some innovation. We're bringing the highest technology and innovation to the general public from Silicon Valley."
Executive editor： JohnMinWu