Credits.Energy, the “crypto with a mobile mining app that supports green energy” aims to virtually eliminate the cost of supporting renewable energy. They intend to resolve this problem by allowing for simple purchasing and management of the CRED cryptocurrency token through their website and mobile apps.
How it Works
Participants can download the Android App or visit the website to purchase CRED using PayPal, Bitcoin, or Ethereum. Funds raised through the sale of CRED are then used to invest in projects that harness the earth’s renewable energy sources such as solar farms, wind farms, and renewable agricultural projects.
Proceeds from those projects are then used to purchase CRED from exchanges to be “burned,” which removes those tokens from circulation forever. This should cause the Total Market Value of CRED to disperse among an ever-decreasing token supply, thereby raising the value of all remaining tokens by the percentage of the value of those that were burned.
Credits.Energy COO, Jared Wells, explained what the current barriers to entry are in the renewable energy market:
“Mainstream adoption of solar and wind power is all about efficiency. Obviously, if I put a solar panel on my house, I need batteries to harness that power overnight, charge controllers to manage wattage and voltage, and a way to integrate that energy into the power system. These same basic components are required whether you have 1 panel or 400 panels . . . 1 turbine or 50 turbines.”
“So while the overall cost per watt in the solar and wind power harnessing platform decreases incrementally by increasing the number of components involved in the system, it is inversely more expensive per unit of electricity to implement the smaller scale systems that can be afforded by an individual homeowner. In addition to that, there are so many people who live in leased or rented housing and are unable to attach solar panels or wind generators to their residences or who maybe just can’t afford to have their own system.”
Mr. Wells continued: “Many of the other projects currently being developed in the cryptocurrency energy sector rely on users to create and manage the power creation, which their platform then tokenizes and markets. Similarly, the comparable micropayment token providers rely on mass adoption of their token to increase the sentimental value of the tokens, a portion of which the companies then liquidate to pay for ongoing business expenses. Both of these approaches place the “burden” of value creation on the token users.”
“This approach not only drains liquidity from the market but provides little incentive for team members to continue backing a project after it stabilizes. The value of CRED, however, will be supported directly by the investment, establishment, operation, and research of solar and wind power generation and sustainable agricultural projects. Only 5% of our total token supply will be retained for use to develop infrastructure, research and development, and operations costs. We feel that this is more than adequate, as our goal is to be paying all ongoing corporate expenses and performing quarterly coin burns within 4 months after our first solar farm is completed.”
We hear about research and development often in the cryptocurrency space but almost exclusively wherein it relates to blockchain technology. The Credits.Energy team is looking at it much differently, however. As one of their recent investors noted, “Technological improvements in the coal, oil, and gas industries can only serve to increase the amount of energy derived from a measured unit of that natural resource, yet only finite amounts of those resources are available on the planet.
When using green energy, on the other hand, technological advancements not only allow people to derive more energy from the same measurement of source products, but they also allow us to capture more of that source which, no matter how much we use, will be here long after our children’s children pass away.” They’ll be working with industry leaders like the US Department of Energy’s National Renewable Energy Laboratories to employ the latest technologies in their perpetual upgrade program. This, partnered with the continual reinvestment and expansion policy they’ve adopted, dramatically increases their future growth possibilities, thus the strength of the token value.
Renewable energy is really just one facet of the Credits.Energy project. The team believes that the peer-to-peer micro-payment capabilities of their web and app-based wallets will help the “unbanked” in less developed nations enter the newly-formed “even playing the field” cryptocurrency has introduced to the financial world. By utilizing the mobile miner, people will be able to mine CRED from their phone and exchange those tokens for other cryptocurrencies or fiat when needed.
This ease of use, combined with the anonymity of the CryptoNight algorithm that keeps hackers from tracking purchases and expenditures on the blockchain, gives users value, control, and peace of mind. Credits.Energy wants to develop a way for people to support each other while protecting our precious planet.