Hi, community! Recently the TreeHugger, the leading media outlet dedicated to driving sustainability mainstream featured WePower.
https://www.treehugger.com/green-investments/forget-bitcoins-invest-green-renewable-energy-wepower-tokens.htmlIn publication dedicated to introduce WePower's solution for sustainable future, journalist Lloyd Alter suggested a few questions we would like to answer:
1.Question: What happens if the producer selling the token doesn't deliver the power. Is the token then worthless?
Answer: If a person holds the Contract for energy delivery, Energy will always be delivered to him, WePower will take care of that according to the legal framework guarding energy delivery.
2.Question: Who is paying the cost of running and verifying the blockchain, which still uses a lot of energy on the Etherium platform?
Answer: Contracting parties are paying for the verifications today, but WePower is looking to be launched with Proof of stake Blockchain in mind where customers would not be paying for their transactions.
3.Question: Is the value of the energy needed to run the blockchain is greater than the commissions one would pay if this was just an investment fund?
Answer: There a number of important added values in running WePower on blockchain. First of all, it all allows to standardise Power Purchase Agreements in a form of Smart Contracts and in this way open an opportunity for green energy project developers to raise capital globally with much less complexity than they currently have to go through. Another important value of blockchain is that as an open ledger it provides a transparent green energy production accounting, which adds an additional incentive to Green Energy buyers because they can trust that the energy they actually comes from renewable resources. The value of blockchain and platform-driven approach to green energy funding stems beyond the savings on commissions. It's really a new approach to green energy financing.
4.Question: Is the CO2 produced by the blockchain is greater than the CO2 saved by the renewable investment? Perhaps it runs on green power.
Answer: This is a great observation. Blockchain by itself does not produce CO2. It requires substantial energy resources to run and just like all of our energy production in majority of cases still comes from the "dirty" energy sources, such as coal. Green energy production costs are dropping every year. The Sun delivers more energy to Earth in an hour than we use in a year. Blockchain technology is still in it's early stages and there are a number of ideas on how to make it more cost effective. Clearly, driving green energy adoption and running increasingly more of the computing resources required for blockchain on green energy could be a strong step forwards.
If you have any questions or comments feel free to share it with us
