The weekly report – week 47
Looking for articles or news of various cryptos, the term ATH comes up pretty often. After all, the price dictates the market and influences the people involved. For years the prices have been going up, and looking at past performance while trying to predict the future, it’s easy to look at “all time high”. I think 2018 will be remembered for the opposite, ATL. BTC decided to hit new lows and dragged along the rest of the market even further.
“All time low” for 2018 is here and there is still more than a month to go. There is talk of miners shutting down, prolonged bear market, equity crash developing… But since we are not here based on the prices, let’s focus on the important stuff: blockchain development! After all, there are tons of people working hard to make reality of the blockchain promises.
Siemens has joined the non-profit organization EWF (Energy Web Foundation). EWF is an alliance for blockchain developments aimed at the energy industry. Siemens believes there will be big changes in the market across the board since blockchain technology will most likely be implemented all the way from consumers to producers and network operators. New business models will also arise. Siemens is already collaborating with the New York start-up LO3 Energy in the areas of microgrids and peer-to-peer energy trading platforms. In Australia, names like AGL and Greensync come up in addition to Power Ledger. This is good news for the energy sector as a whole. Competition will breed invention and adoption.
The performance of the top 3 energy related projects by marketcap:
Power Ledger POWR -32.46
WePower WPR -31.30
Restart Energy MWAT -20.35