Renewable Energy Distribution Platform

Situation

The client is developing a Blockchain based Renewable Energy Distribution Platform that will be self-governing, taking control away from utilities and placing Consumers, Prosumers and Producers in charge of their own energy future. Client’s platform aims to achieve these benefits for all users. First, by removing the middleman, electricity will be offered at far lower prices due to the elimination of layers of overhead and costly front, mid and back office systems. Secondly, the new Peer-to-Peer environment will create transparency and supply sustainable, socially-responsible energy. Thirdly, customers will be in control of the energy needs for their home or business with access to true clean energy via the platform.

Productive work has begun with technical consultations on the usage of blockchain technologies in the green energy domain. Simultaneously the product architectural discussions, Intellica team has analyzed and compared the most successful blockchain technologies (Quorum, Hyperledger, R3 Corda) in order to pick up the most suitable for the needs of the product and architecture. Moving forward, the team also had additional investigations on Hedera, the public network for decentralized applications.

Accompanying product analysis, Intellica team consulted the client on investment raising process, namely Security Token Offering. The main topics of points were crowdsale management, token (GET-T) smart contracts, investor cabinets, KYC & AML.

For the process intensification, the client team visited Intellica’s office for a 2-day workshop dedicated to platform stucture including development approaches, the scope for MVP stage of the product, functionality “wish list”, as well as security token offering. The workshop is considered to be successful and it completely satisfied the initial purpose.

Approaches for platform development:

Phase 1 – token sale (GET-T) process: investor cabinet, smart contract, and design for GET-T token, KYC & AML
Phase 2 – “digital” platform for energy trading. From the technology side, the platform will be fully complete and developed (smart contracts, architecture, basic functionality), while data incoming from “physical” world is simulated by software
Phase 3 – the connection of “digital” platform with a “physical” (real-world) system

Solution

For project facilitation, the client decided to raise investment in first place. Intellica team suggested several ways for token sale event, including automatic and manual token distribution (along with token smart contract development). Manual token distribution (The tokens purchased with any currency (except Ethereum) are distributed manually) suited best for the quick start on the market.

Intellica team has been engaged in:

Consulting on token generation event.
Development of token smart contract (ERC 23).
Crowdsale contract: rounds, conversion rates, token supply, token price, token freeze, token distribution.
Crowdsale management tools: crowdsale is maintained through functions, which are defined in smart contact. Project documentation contains a detailed description of all available functions.
Multisignature contract wallet: Contact wallet is the key wallet, where all crowdsale funds are stored. Multisignature refers to requiring more than one key to authorize a transaction.
Project documentation.

Ethereum Mist Wallet (third-party system) is a tool, which allows calling the contract’s functions.

Consulting on:

Security Token offering
Blockchain architecture
Project/system implementation

Technology Stack:

Docker 18.09.1
nginx 1.14.x
ReactJS 16.x
NodeJS 10.15.x
Redis 5.0
PostgreSQL 10.6+
Geth 1.8.22
Solidity 0.5.3

Version control & development tools:

Confluence
Jira
Bitbucket

Third-party systems: Mist Wallet

Result

Smart contracts were developed within a month. The final product is supported by the next documentation:

User manual on a crowdsale event with management instructions
Token specification
Crowdsale technical architecture