An interview with Gianluca Corbellini, CEO of Hive Power
Hive Power is a decentralised organisation that functions autonomously. Hive Power empowers anyone with an inclination towards the creation and administration of energy communities using Ethereum blockchain. This blockchain is also known as the Hives.
Hive is described as a market platform responsible for energy distribution. This distribution undergoes regulation through smart contracts. Here, by virtue of smart contracts, the enthusiasts are permitted to sell and purchase electrical energy.
The platform provides its participants with optimal economic benefits by reducing their bill amounts. It equally strengthens the value of their assets. Hive Power has unified with meter producers to develop an energy meter supported by blockchain technology. Such an energy meter provides security while tokenising the energy.
The vision of Hive Power is to create a world that shares energy to ensure a better and brighter future. Hive Power ensures the enthusiasts involved in energy communities to reduce their energy tariffs. Hive Power also assists in the reduction of payback time pertaining to the sources of renewable energy.
The system operators are given selling flexibility by Hive Power, thereby, enabling them to balance the grid. The users tend to receive benefits due to their participation that also helps them to achieve technical optimisation.
We have conducted an interview with Gianluca Corbellini, the CEO of Hive Power. In the interview, he has given us an insight into the project and the ICO event. Read more to find out:
How does your project impact the crypto market?
Our ICO will provide token that allow access to a very innovative platform for energy exchange, based on the Ethereum blockchain.
What is the purpose of Blockchain in your project?
The purpose is to provide a solution that can implement smart grid in a reliable and fair way; in this way it will be finally possible to integrate renewables into the electrical grid, in a way that is technically and economically efficient.
What role do Venture Capitalists and investors have in your project?
We only had funding from our network in the energy business, so from partners that knows pretty well the problem we are approaching.
What are the milestones of your project and how do you plan on achieving them?
We already reached our first milestone developing our demonstrator https://blog.hivepower.tech/demo-hive-our-first-successful-implementation-of-a-blockchain-based-energy-market-ff54bfe2d2c1 .
We are now developing pilot projects during 2018, to test our solution in a real environment. With those projects we can tune our platform to be up and running for the global market between 2019 and 2020.
How does the cryptocurrency token help your project?
Thanks to the Ethereum Network we can guarantee fairness and reliability of our coordination platform. Moreover we can naturally include the billing of energy with third parties stable tokens.
Do you have a working prototype of your project in place?
Yes, our first version is available at https://blog.hivepower.tech/demo-hive-our-first-successful-implementation-of-a-blockchain-based-energy-market-ff54bfe2d2c1 .
When will your tokens be tradable or available on crypto markets?
Just after a couple of weeks after the ICO.
Are you planning on organizing a pre-sale or private sale for exclusive investors?
We are running a private sale of token, but on a limited amount, we prefer to keep most of token available for the crowdfunding.
What aspects of your ICO make it a desirable one for people to invest in it?
We are very expert in our field, smart grid, and we are working by several years in decentralized approaches for the optimization of energy management. Thanks to the support of our University, we have access to large networks of research and industrial partners.
How can you guarantee a good return on investment (ROI) for your investors?
With our token model, when the adoption of our platform will grow there will be a large need of token, that will be then be staked, producing scarcity.
How can you ensure that the token value increases in the future?
Thanks to the mass adoption and the limited supply.
How are you planning to overcome devaluation of your token?
Announcing new partnership and new projects with important industrial partners.
Is your ICO compliant with SEC rules and regulations?
We are issuing token in Switzerland and we are following precisely the FINMA guidelines to let out token be considered a utility token. For this reason we will release a MVP of our platform just after the end of the ICO.
How are your investors protected against fraudulent activities?
We are a spin-off of a Swiss University so we have to keep a very professional profile, this should guarantee that we are not having fraudulent behaviour.
What other ways can the token be used outside your project?
Upon completion of your ICO, how do plan on utilizing the funds?
To boost the development of our software and for pilot projects across Europe.
Have you established any infrastructure for your project?
Our project is based on Ethereum Network and Liquidity Network.
Have you planned on organizing any events to promote your ICO? Please elaborate.
We are participating in a roadshow of events, mainly related to blockchain and energy.
What is the legal status of your ICO?
For the legal part we have been working with the biggest Swiss company for blockchain advisory.
Are you planning on launching an Airdrop?
Yes, we have an Airdrop for everyone that has a minimum amount of ETH on his Eidoo wallet.
Who is your biggest competitor and how do you plan on dealing with it?
We see many startup in energy and blockchain, but all of them are approaching the problem from a different perspective, forgetting the main smart grid problems.
Who are the advisors involved in your project and what are their credentials?
We have experts in energy business, regulation, policies, grid technicalities and legal.
We are very proud to also have the former director of the Swiss energy department among them. Moreover we have two experts on off-chain networks that is fundamental to have a scalable solution to our problem.
Who have you partnered with to help you promote your ICO?
With specific marketing and PR companies that are specialized on the crypto market.
Please let us know more about your PR team and how they plan on attracting investors to your ICO.
Roadshow and specific content development are the best ways to meet investors in our experience.
Why do you think your team is the best for your ICO? Do they have any public track records, if so please specify?
We have along track record of scientific papers and industrial results on the smart grid topic.