SunContract now a member of Infrachain

We are gearing up for Munich and enhancing credibility of our platform

So, Munich is getting really really close for us. Our Team is setting up all the necessities, checking off all sorts of boxes and gearing up to do their best in Bavaria.

Munich for SunContract means a great opportunity to present our products on a global level. All major Energy Market players will be there and how we fare in front of them is important, but at the same time, this is also a chance for us to talk to our community. We are painfully aware of our over-encumbrance with all the technical stuff we do. At the same time, all this work is the core point of SunContract: We are not making just a fancy app. Our project is backed by 15 years of experience in power-generating hardware, plus we have proven we can set up a healthy, ascending cryptocurrency, which has already been successfully tested and has already proven its worth.

Munich is also about testing global markets, how will they accept our solutions, as well as probing German market with a desire to expand there next year. One of our goals during our business trip is enhancing our influence in SolarPower Europe, too.

Team getting ready for Munich visit

Further cost reduction through possession of our own blockchain

But it is not only Munich we are excited and proud of these days. This month, we managed to reap some, we dare say, impressive successes. SunContract is now an official member of Infrachain, an organization, based in Luxembourg. Infrachain is a non profit organization, created by the emerging blockchain-related industry and supported by the Luxembourg government. Infrachain closes the gap between the maturing blockchain technologies and the regulatory and legal requirements. In order to achieve this goal, Infrachain creates a supplementary governance model on top of existing technologies allowing blockchain Proof of Concepts to go into operation — straight away.

Source: Infrachain

Reliable recording of data

For us, this registration is most important for two reasons. On the one hand, this means we have in our possession our own blockchain verified by external and trusted organization, tasked to record a diverse array of data to be generated by our platform. Our blockchain will record data generated by electricity meters during power consumption and production and will record trading algorithm results as well as settlements (microtransactions between Independent Power producers and consumers).

On the other hand, our goal is also to reduce the price. We need our own blockchain so we can reduce transaction fees. These are at the moment still far higher than what we want to offer to our customers.

Third reason for a private blockchain is that there is currently no public blockchain in existence with sufficient capacity to process all the data our platform will generate fast enough, economical and scalable. However, in the future we plan to use public solutions that are being developed at the moment.

We intend to set things up in the following way: Final payments will be completed via SNC on Ethereum blockchain. In order for us to be able to guarantee our customers that our data is genuine, we will have Infrachain as the trusted verifier. Infrachain will issue official certificates proving that our solution is valid and certified.

Keep eyes peeled regarding our Munich venture. We will make sure to keep you thoroughly up to date regarding all our activities and successes there.

If you happen to live nearby, drop by and have a talk with us. We’ll be glad to see you. If not, as usual: Join our Telegram where you can talk with the team and great community. Follow us on Twitter and Medium. SNC token is getting fresh traction and is being recognized by new people and exchanges thanks to great community around SunContract project. Also, do not miss the unique use case of the SNC token and check the healthy and stable growth of the SNC token on HitBtc exchange.