Robotina to Launch ICO to Finance New Blockchain-Based Energy Platform

By , 12 Mar 2018, 14:20 PM Business
Robotina to Launch ICO to Finance New Blockchain-Based Energy Platform

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Another crypto coin for Slovenia. 

STA, March 12, 2018 – Automation solutions maker Robotina is developing a platform for the management of electricity use which recognises the users' habits and allows for major energy savings. It will soon launch an official sale of crypto coins to finance the development of the platform and gain on recognition among users.

Savings in electricity consumption are possible either by reducing consumption or using cheaper energy, with both requiring conceptual changes in the way electricity is used, Robotina director Devid Palčič has told the STA.

The platform being developed by the company based in Hrpelje in south-western Slovenia is about the possibility to influence electricity consumption as well as managing devices which consume or produce electricity.

The basis of the platform which could help users save up to 30% of electricity is a home energy management system (HEMS), which decides when to switch on and off based on an algorithm, Palčič explained.

According to him, the platform will allow users to adjust electricity consumption to their personal habits, environment, weather and other factors and make energy savings.

On the other hand, savings can also be made with consumption of cheaper electricity, as energy systems are leaning slowly but surely towards offering several different tariffs, Palčič said.

Users within the platform, if there is enough of them, can join forces and the platform can offer a surplus in energy to those who need to ensure the stability of the network, he added.

Palčič is optimistic about the future of the system. The increasing share of renewables results in the need to compensate for the unpredictability of sources such as solar power or electric vehicles, which will put an additional burden on the network.

He believes that the use of HEMS will be adopted very soon, as it provides users with a "really practical, measurable and applicable advantage", which means that "if I behave more economically, no-one can prevent me from doing so".

Palčič sees no obstacles in regulation either, as the system differs from other concepts because "our devices are behind the electricity meter, they are part of the internal electricity network".

Development of the platform will be financed with the sale of Rox crypto coins. The main reason for the move is getting in touch with end users as the most reliable way to enter the market successfully and sustainably, he added.

The official sale starts on 21 March and will conclude on 30 April, while the pre-sale has been taking place for two weeks. The company has so far sold around US$7m in crypto coins, which is 70% of the minimum success threshold.

A PDF about the ICO can be found here.

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