The application of blockchain technology is diverse and cuts across all sectors. With the world going green, ApolloChain is positioning itself to build the world’s first clean energy platform based on blockchain technology. They seek to facilitate the decentralizing of a clean energy grid by using smart contracts. ApolloChain has taken into consideration all the research done on how to integrate blockchain in the energy sector, and they are building the first ever system where users can conduct electricity based commerce directly with one another.
The Problem and the ApolloChain Solution
The energy sector has struggled to evolve and the mining and collection of fossil fuels contributing to environmental degradation. Most of these fossil fuels were burnt on site, but now populations are more distributed leading to the construction of extensive power grids to distribute the energy. However, the biggest problem of all was that the current power grid is centralized and thousands if not millions of people lack energy when there is a fault along the grid. ApolloChain promises a platform that will lower the financing costs for individuals and business generating poweras well as lowering the cost of electricity for the consumer. ApolloChain is building an open source-based system based on Skycoin’s Fiber Platform. The ApolloChain platform will offer efficiency and data privacy by merging blockchain to an energy-trading platform. They have an ICO, for advancing their operations.
ApolloChain Token Features
- Token name: ApolloChain Token (APL)
- Token type: ERC20
- Payout: APL tokens will be sent to your ETH wallet
- Total supply: 100,000,000 APL tokens
- Pre-ICO sale period: May 5, 2018 – June 15, 2018
- Price: 1 ETH = 2,200 APL
- Soft cap: 1,500 ETH
- Accepted cryptocurrencies: ETH, BTC
Token Distribution and Bonus Program
ApolloChain is intent to reach its soft cap and have followed the following token distribution strategy
- Distributed through ICO – 40%
- Founding team – 30%
- PR and marketing – 20%
- Apollo Foundation operations – 5%
- Community rewards – 5%
For the tokens allocated for community rewards, ApolloChain will release 3% in the first 5 years and the remaining 2% in the next two years. The tokens will be incentives for the contributors who work to perfecting ApolloChain’s technology. ApolloChain will collect revenue from membership fees, license fees, pay-per-use, matchmaking fee, benefit service charges, consulting service revenue, and third part revenue, which includes advertising fees on the platform.
ApolloChain is the first of its kind in the world and Craig Nalder the CEO leads the team behind ApolloChain and he has 0over 20 years’ experience in the energy sector, working in various capacities as an energy trader, commercial advisor, economist, entrepreneur, and power developer. His subordinates include Peter Turnbull the technology partner, Charles Allen, the principal technology consultant, and Roman Voloshin, the sales director. ApolloChain currently has only two advisors, Synth the founder of Skycoin, and Kaicheng Wu, who is a certified financial analyst and a listed company sponsor candidate.
With the introduction of the smart meter that records units used, user behavior, among other metrics, ApolloChain is set on connecting more people to the power grid than there are in the world. For more on their technology, read their whitepaper, and buy the APL tokens on the official ApolloChain website. You can also follow the conversation on Twitter, Facebook, Reddit, Instagram, Medium, and on Telegram for more insight. And ANN
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