VLUX is launching an Initial Token Offering (ITO) in order to create VLUX tokens that will enable energy to be traded on the renewable energy trading platform that it has developed. By combining deep learning AI technology with blockchain, VLUX's peer-to-peer (p2p) energy trading platform aims to improve access to affordable, low carbon energy.Artificial Intelligence Cryptocurrency Energy Infrastructure Platform
|Price||1 VLUX = 0.5 GBP|
|ICO Start Date||04 Apr 2018|
|ICO End Date||26 May 2018|
VLUX by Verv - Live energy trading protocol
At Verv, we believe it’s time to challenge the status quo and bring energy into the digital economy.
By combining our deep learning Artificial Intelligence with disruptive blockchain technology, we have developed a Peer-to-Peer (P2P) energy trading platform that aims to put power back into the hands of the consumer, all the while improving access to affordable, green energy.
Our AI-based smart hub, Verv, which can obtain a comprehensive and real-time overview of the electricity consumption of a home, forms the basis of our p2p framework.The specialised AI used in our Verv smart hub provides us with the opportunity to add a unique layer of intelligence to the trading process. With an ability to predict the supply and demand of energy of a home, our intention is to ensure trading is done at optimal times in advance, reducing costs and prioritising green energy consumption.
With two government-backed P2P projects now underway, and having just executed the first peer-to-peer trade of energy on the blockchain in the UK, we are looking forward to the next step on our journey to digitising energy; creating a VLUX Token.
What is a VLUX token?
VLUX (VLX) is a utility token which is being created in order to enable token holders to access our blockchain-based energy trading network and benefit from low cost, low carbon energy. Tokens are exchanged within the network for KWh energy which is then directed to the user for their consumption needs.
We’re using blockchain technology with the aim of providing an inherently secure platform which uses a decentralised distributed ledger to keep continuously updated digital records of who owns what. Importantly, with the platform distributed across multiple nodes, having a trading system built on the blockchain aims to ensure its recorded value can be maintained, even in the event of a natural disaster for example.
Seamless Cross-Border Capabilities
By creating a VLUX token, our aim is to ensure that a scalable network is in place as we continue to expand and roll out globally. With cross border capabilities, token users should be able to benefit from seamless functionality.
Furthermore, as we look to empower the 1.1 billion people globally without access to electricity, the global interoperability of the platform will be crucial.
Our Token Sale
Our goal is to distribute VLUX tokens as far and wide as possible, enabling everyone — regardless of the potential size of their contribution — to participate in the benefits of a decentralised energy grid based on our advanced trading platform. By creating these tokens, we are confident we are moving one step closer to the reality of reduced energy costs and better access to clean energy for the masses.
VLUX by Verv - Live energy trading protocol
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Verv, the AI-based smart hub was created.
Verv received seed funding from Ignite (the social impact arm of Centrica PLC, the parent company of British Gas).
Verv started researching blockchain-based energy trading.
Verv CEO & Founder won Innovator of the year at the Business Green Technology Awards and was named one of the top 50 entrepreneurs in the last 15 years by SETSquared.
Verv started gathering real home electricity data for energy trading trials.
Verv was one of a handful of companies in the UK selected to be on Launchpad, Google’s global startup program, as well as Amazon’s Launchpad.
Verv received a £150k grant from BEIS’ Energy Entrepreneur's fund to simulate its blockchain based peer-to-peer energy trading solution across the UK.
Raised £1.1million via equity raise on Crowdcube.
Verv is implementing a p2p trial site located in Hackney, London, UK alongside Repowering London aiming to reduce energy bills of residents and start trading surplus energy. Public Blockchain - Transactions expected to be made visible on the Ethereum public Testnet (Ropsten).
More advanced electrical generation and consumption prediction algorithms expected to be introduced into live system. Planned deployment of Verv’s combined three channel CAD units. With regards to blockchain, the plan is to transition to a private permissioned blockchain, minimising the carbon footprint of the blockchain solution.
Planned roll out of the energy trading platform to early adopters for trial. Scheduled beta test of Macro Blockchain - a blockchain of blockchains containing digests of transactions anticipated to be rolled out to our trial sites.
Planned integration of the energy trading platform into the new generation of Verv hubs, scheduled for public roll-out in 2019. Planned establishment of International system.
Fully operational foundation planned for International roll out. Scheduled inclusion of next generation of apps and third party services.
|Price in ICO||1 VLUX = 0.5 GBP|
|Distributed in ICO||70%|
|Hard cap||25,000,000 USD|