An Asia-centric energy system which finds use of the very promising blockchain technology has been developed by Electrify. It supports any producers of various scales to trade power like the large leading ones do by studying the power market.
CEO and founder of OmiseGo – Jun Hasegawa, during an interview added:
“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.”
On the other hands, the COO of Electrify – Martin Lim during an AMA stated:
“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 is very bullish on the plasma cash believing that it is more efficient and foster.
“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.”
Security, scalability, efficiency are turning to be very important for the development of the platform and operation.
“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.
“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.”