Electrify.Asia

Summary

With a growing competition within the energy industry, we hope to see Electrify Asia fufill its promise. It does have products available (eWallet, Powerpod) which does set it apart from the competition.

Positives
Established Team: Electrify Asia has a market in Singapore that has 12-16 retailers on it.
Increased Savings: When using Electrify Asia, users can obtain up to 25-30% of their electricity. This low energy cost increases the demand for ELEC coin and will help it be accessible throughout Asia.
Producer Incentives: Producers can use their electricity to participate in the network and obtain profits via using its PowerPod.

Negatives
High Competition: Electrify Asia is in direct competition with other ICOs such as Australia’s Power Ledger.
Expansion: While it does seem to have issues with expanding its network, Electrify Asia might have to look into Japan for expansion. However, they haven’t created any partnerships with Japanese entities as of yet.

With the particularly high utility case for trading energy on the blockchain, the competition in this space is only increasing. The issue with electricity is of course that utilities tend to be a sector with high levels of regulation, the degree to which varies from country to country.

With Electrify Asia’s foothold in Singapore, building their base at home and finding the next viable market with a suitable regulatory environment will be key to success.