Energzine: A blockchain-based electric vehicle charging station network

bonanza-kreep (66)in #energzine • 6 years ago

The electric car industry is surging right now. Technological developments have finally made electric vehicles (EV) viable for consumer use. Their adaptation on a large scale is being spurred on by public environmental concerns and government initiatives. Several countries have already pledged to ban fossil fuel cars over the next few decades. However, even with recent improvements to their design, EVs still have a number of downsides compared to traditional cars. They are more expensive to buy and own, they require more frequent recharge, and that recharge takes more time than fossil fuel refill.

https://www.enrgzine.io/

One of the remaining obstacles to the widespread adaptation of EVs is the underdeveloped and inefficient state of the charging station infrastructure in most parts of the world. Energzine Integrated Energy Solutions plans to change this by establishing a network of franchise EV charging stations and connecting them with customers and energy providers through the blockchain.

How will this franchise work?

Owners of the Energzine token (ENZ) will be able to open a ChargeBEE franchise station, using state of the art technology developed by Energzine. This will include BuMotion technology, which can Energzine claims can fully charge an average EV in 3 minutes (as opposed to the industry standard 3-4 hours), wireless chargers, and the EcoTech platform. The latter uses blockchain technology to enable quick and reliable multilateral energy trade between franchisees, car owners and energy providers. Energzine envisions ordinary people generating renewable energy (wind or solar) and selling it through the platform to the franchise owners, transferring energy through the Energzine SmartGrid. The platform could also be used to pay for EV charge bills.

Franchises will have different levels and will be allocated on a first-come, first-served basis. 25,000 ENZ will empower you to open a one outlet city franchise in your city of residence, 400,000 ENZ will give you a regional franchise, 1,000,000 ENZ – a national franchise, and over 10,000,000 tokens will grant you an exclusive country franchise with the right to establish sub-franchises in your country. It will be possible to upgrade your initial franchise later on. All starting franchisees will work directly under Energzine, complying with local bylaws and regulations and company practices and staying in touch with the company through email.

https://www.enrgzine.io/

How can you profit from this?

If Energzine's ambitious plan succeeds, many parties will be able to reap benefits. EV owners (both individuals and commercial fleet operators) will be able to save money and a great deal of time. Franchise owners will profit from the operation of their charging stations, particularly if Energzine's technology gives them a significant edge. Ordinary people will be able to set themselves up as small energy suppliers – an idea that already has some appeal among the public. Those who already generate their own energy will have a new way of sharing it that is backed up by blockchain technology. Assuming Energzine's expectations of setting up franchises all over the world are at least somewhat realistic, electric car manufacturers will benefit indirectly from the removal of one of their product's main disadvantages.

What are Energzine's advantages?

Although Energzine's apparently groundbreaking technology and business model could be elaborated on better, the team does have good credentials, including experienced entrepreneurs and engineers. The team has done its research of the industry and identified a clear demand and a plausible way of meeting it. Using blockchain technology to enable small-scale multilateral energy trade could be revolutionary in its own right. Energzine's main advantage, though, is the same one enjoyed by the EV industry itself: it is in line with modern trends and could get far on a tide of popular enthusiasm for both sustainable energy and decentralisation.

ICO details

The Energzine token (ENZ) is based on the ERC20 protocol. Energzine plans to use 30% of the proceeds for energy procurement, 20% on acquiring power plants, 30% on building new power plants and 10% on R&D. Unsold tokens will be burned.

Preparing for the near future EV boom

Many predict that the real EV boom is still to come. Some estimates suggest that by the end of 2030 EV sales may account for almost a third of all new car sales; by then, if nothing changes, many of the government fossil fuel car bans are going to come in effect. The charging station infrastructure will have to play catch-up to help sustain this boom. It is safe to say that the niche that Energzine has set its eyes on is only going to become more relevant in the years and decades to come.

It is too early to say whether Energzine will actually manage to corner the charging station market. Its approach is predicated on the idea that traditional energy supply industry will not be able to keep up with the growing and evolving demand, which may be overly optimistic on its part. Still, if it can come through with its product and if its offer of franchises finds sufficient interest, it will at least have a shot at a decent share of the market. Its predicted ecosystem, connecting small energy suppliers, charging station operators and car owners and underpinned by the blockchain, certainly seems like it could be popular and if so may be able to hold its own if it gets off the ground.