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GreenX ICO Review

22 april 2018, 20:03

General Idea

GreenX wants to create a convenient place to help potential investors find interesting projects, which are environmentally minded and support development of renewable energy. The developers of GreenX have noticed that such projects have often difficulties in gathering funds, as they usually require large capital investments. Moreover, as the minimal contribution requirements are often very high, individual investors and project supporters aren't able to help and invest in it. With the help of blockchain technology and tokens, such investments will be much easier.

Green Energy Market

With the development of technology, as well as people knowledge and concerns about the environment, the green energy market is rapidly developing. In 2007, the global production of renewable energy was reaching barely 99 Gigawatts, while the statistics for 2016 show that a record high of 2011.3 Gigawatts has been reached. It even contributed to the 24% of all electricity produced.

Government and various organizations all over the world are doing everything to encourage an even wider adaptation and switch to the renewable energy. For example, Germany and Denmark plan to become fully renewable by 2050, while 99% of Costa Rica's electricity in 2015 already came from renewables. These plans and statistics show that there is and will be an even higher demand in environmentally-friendly projects.

Investing platform

The main problem for developers of Green Energy projects are high costs and lack of efficient way to advertise to potential investors. Regulations, project location and high minimal investment amounts make it impossible for smaller investors to support their favourite projects, as they would have to invest at least $100,000 for example. Such fundings usually end with few large investors paying for the whole project and enforcing unfavorable economic terms to the developers. Moreover, small individual investors are not always familiar with all of the project aspects and the research they do is not sufficient, making the investment risky or the funds are extorted by the project developers.

Due to these problems, GreenX decided to create a platform which would make it easy to invest in project, learn all the details and be protected by the secure and transparent blockchain technology. Projects will be able to launch their campaigns through GreenX Capital Market, while the users can support the projects of their choice with cryptocurrency tokens.

Energy Trading Exchange

The second main feature despite the crowdfunding platform, is a secondary green energy project trading exchange. GreenX Global Exchange will be a place where investors will be able to buy certificates and shares of already developed projects. The main idea is that the first marketplace is purely for raising funds and running the development stage, while the second marketplace is for already developed projects, which has most likely increased their value and are already profiting. Therefore, an investor who doesn't want to wait and support the developers from the very beginning, can instead use the money for already existing Green Energy projects.

In both cases, a full professional due diligence reports are available to the user to make sure all of the necessary information is transparently provided before risking the money. A special Artificial Intelligence system will generate project statements and summarize the main targets. 

The Token

The GreenX Token will be used as the primary payment and investing method within the ecosystem and the whole platform. It is Ethereum-based with the ERC-20 standard, which means it can be stored alongside most of other popular ICO tokens in most of Ethereum wallets, like MyEtherWallet, MetaMask or Partity just to name a few, as well as hardware wallets like Nano Ledger or Trezor. GreenX plans to create their own dedicated wallet in the future, targeting mobile devices and online browsers. It will be connected to the platform, so that investors can use the funds from the wallet to invest directly in promising projects.

ICO Phase

The token sale will consist of three phases and an early bird sale, acting as a limited presale with additional bonuses. The Early Bird Sale starts on the 15th of May, while the main ICO is scheduled for 15th of June. Total of 225,000,000 tokens are devoted to be distributed among token buyers and investors. The initial exchange rate is set at $0.2 for 1 GREENX token. They want to devote 80% of raised funds to the development of the ecosystem, as well as marketing and operation costs. Within 2 weeks after the successful coin offering, they aim to be listed on few exchanges. GreenX is already in talks and negotiations and the tokens may be traded and available on Huobi, Binance or HitBTC, with future plans to be listed on major and bigger exchanges within next 2 months.

The Team

The team behind GreenX has enough members to be able to deliver what they promise. It consists mostly of investing and energy advisors, as these are the two main services and features that the platform will offer. All of the members have a very interesting and extensive portfolio and previous experience cooperating with various companies and projects with the focus on green energy projects. A team of developers and blockchain specialists will take care of the technical part of the platform.

Final Thoughts

We can see a global interest in a renewable and environmentally-friendly solutions, therefore such project may have a promising future, especially as many countries and organizations are pushing for global switch into renewable energy. Blockchain technology, especially with the tokens and smart-contracts will be a much more efficient way to raise funds and invest, therefore users interested in supporting such projects may find GreenX platform very convenient.

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