Decentralized Solar Energy for all – Interview with Candela Coin
Our vision is to create truly decentralized solar energy all across the world made by the people – not the power companies or middlemen. We are developing IoT hardware and software for seamless peer-to-peer energy transfer. By using blockchain technology, we enable solar panels owners to sell their generated energy to other users, bringing in the best returns possible for their solar energy and the cheapest green energy on the market. People across the globe will be able to transfer solar energy to others in their communities using Candela coin as a medium of exchange. Our decentralized system does not rely on the existing power grid infrastructure. In the event of inclement weather, power outages, or down power lines, decentralized solar power will still be able to be generated and provide electricity to the community.
First of all, thanks for doing this interview with us! Now could you tell the readers and us a bit about your background and how Candela Coin got started? Why blockchain?
Absolutely! Thank you for having us. Between myself and our co-founder, we have 15 years of combined startup experience. Sam and I are passionate about new technology and disruptive solutions. Sam and I were having a conversation one day about bitcoin and why there wasn’t a viable equivalent for power. So our vision was to truly decentralize and democratize energy all across the world. Our aim is to empower the people rather than power companies or monopolies. We believe blockchain technology is necessary to achieve this goal.
How about your team, and where are you located? Any strategic decisions regarding location due to government policies or other factors?
Our team has a diverse location setting. Our CEO is located in the greater metropolitan DC area, our Co-Founder and COO is located on the west side of Phoenix, and our CTO is located in Sacramento. We run a very lean, remote team. Due to the nature of our project, our focus is truly global. That being said, we do believe there are a few critical markets for us to focus on both from a practical and regulatory standpoint. Those locations would be Africa, more specifically South Africa to begin with. And we also view Germany as having lots of initial potential. Last, we also think the Middle East, in locations like the UAE, can be a critical geographic location. We are working vigorously to have our white paper translated in as many languages as possible.
How did you go about the initial funding? Any further funding rounds or partnerships planned?
Currently, we have a token pre-sale scheduled for September 14th. Our ICO will take place shortly thereafter. Individuals who go to candelacoin.com can sign up for our email list and will receive notification of the ICO three weeks prior to the event. Due to the nature of our project and how our morals align with our vision, we want to avoid corporate influence. We are however open to receiving investment from individual investors that align with our mission.
What about your whitepaper and timeline in general? Has anything changed since you laid out your original plans? Where are you in five years from now?
We have been working on bringing this to fruition since day one, as laid out in our white paper. In five years, we want to have Candela Coin users in at least three different continents, have a functioning DApp, and millions of people powering their lives independently. Finally, the barrier to entry is already low enough for the consumer market, but we are committed to continuous R&D in order to continue to lower the barrier to entry for power independence.
We saw that you have an ICO planned. Can you explain what this means and how it all works?
We are very excited to be making Candela Coins available to the public for the first time. We have a limited pre-sale taking place on September 14th, which offers a 5% discount. The main ICO, which the remainder of the tokens will be available, will take place shortly thereafter. The ICO price will be .033 cents and can be purchased with ETH.
Regarding your software and hardware, what is developed in-house, and what is outsourced? Are you looking to partner with others currently?
Our software and app are going to be done in-house and is proprietary. In regards to the hardware and IoT devices, we are looking at both developing in-house as well as partnering with other OEMs. The goal is to create an open-source environment that lowers the barrier to entry and increases flexibility.
What kind of markets and customers are you targeting, to begin with? Do you have any deals signed already? Where is the long term strategy taking you?
Because of our desire to democratize and decentralize power for all, we are focused on the individual consumer. Our long term strategy is all about creating awareness of how easy and simple independently powering your life can be. Spreading the word and message about Candela Coin and what it can do is an ongoing lifelong mission for us.
I assume you have done your research regarding the competition. Who do you identify as your “enemies” or as your role models? What can be learned from the early movers?
We believe that any project that helps bring awareness to the power of blockchain and how it can benefit our lives is a good one. We think there are many great lessons to be learned from earlier pioneers in the industry. Many of those lessons were applied directly into the design of Candela Coin. Features like a simple, single token system, focusing on people rather than corporations or power company monopolies, and getting away from the current grid infrastructure are all things we put into candela coin from the lessons we learned.
Tokenization is an interesting topic and also at the center of the energy transition. What fundamental problems does your token solve?
The fundamental problem that our token solves is creating a seamless medium for individuals to transfer power between each other. It also serves as a decentralized store of value for that purpose.
Do you have a plan for certification as a utility token (SEC Regulations) or other certifications?
During the initial phase of our project, we passed the Howey test, and we are in fact, a utility token. However, to be safe, we are looking at the possibility of a filing.
If I was a token holder or a potential investor…why hold the token? How does it appreciate in value?
The Candela Coin ecosystem requires Candela Coins as the medium of exchange. So if you wanted to buy or sell power, you do so with Candela Coin. As more people utilize the ecosystem, the nature of supply and demand of a fixed supply of tokens impacts the price of the coin. Increased usage equals increased demand. Early investors have a unique opportunity to acquire the coins prior to a large spike in demand.
What about public exchanges? Do you have anything planned yet and when do you hope to get listed? Is this a sensitive or a difficult subject considering the whole crypto landscape and the public view?
We have already been approached by several exchanges that would both host an IEO as well as provide an Exchange Listing. We plan by early 2021 to have major exchange listings in place. In regards to the second part of the question, we believe our goal, our mission, and our purpose speaks for itself. We have the opportunity to create and bring something truly incredible to the world. Blockchain technology is going to change the way we live our lives; we won’t let bad actors dampen our community or innovation.
Last but not least, what is the potential of decentralized energy according to you and Candela Coin?
We believe the potential of decentralized energy allows individuals and communities to independently power their lives. We see this being free of corporate monopolies or controls. And we see this being a world where power, one of our most precious resources, is in the hands of the people.
Thanks again for doing this and good luck with your project. The Energy Bit is looking forward to catching up with you guys once you get the ball rolling!
Thank you, and we are excited about the future. It’s been a pleasure and we look forward to updating you and your readers.