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Suncontract (SNC) - a cryptocurrency that focuses on renewable energy
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Suncontract (SNC) - a cryptocurrency that focuses on renewable energy

created Michał SielskiApril 21 2021

Investments in renewable energy are not only a fashion, but also a growing business. No wonder that new projects are being created that allow everyone to use it - such as the SunContract platform and token, thanks to which everyone can buy electricity, while saving up to 35%. 

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for SunContract - a token and a platform with the same name that allow you to buy and sell electricity without intermediaries. But only renewable energy.

Electricity trading and blockchain technology

Where did the idea for blockchain technology in the renewable electricity industry? The answer is simple - with it you can bypass the middlemen and make electricity from solar, wind, geothermal and hydro power plants even cheaper. E.g. in Slovenia Suncontract has entered into a relationship with SONCE New Energy Ltd., thanks to which, after the conclusion of the contract, the residents of Slovenia have a fixed electricity price guarantee from April 2018. As a result, they can save up to 35% in relation to contracts concluded in a traditional way. Suncontract uses the existing infrastructure, but does not generate great costs, because they take care of all the calculations smart contracts. 

How the Suncontract platform works 

The most important thing is that you don't need to know blockchain technology to use the SunContract.org platform. After logging in, the user concludes a contract there, and the energy supplier takes care of everything for him: he terminates the previous contract and acts as a partner on his behalf. Importantly, in the contract the maximum price is storedwhat will not be exceeded. After topping up your account with SNC tokens, electricity is purchased. However, you do not need to be familiar with cryptocurrencies - payments in euro are automatically converted into a unit of account in the blockchain technology. 

Energy comes exclusively from renewable sources, but there is no shortage of electricity for anyone, because this branch of the economy is developing dynamically. In 2015, approximately 15% of the total energy produced in the USA came from windmills and the sun. By 2050, it is to be over 70%, or maybe even 80% of the total production.

It is similar in the European Union, where in 2020, over 10% of all production came from renewable sources, and the share of this production is growing rapidly. In Scandinavia, more than half of the electricity comes from ecological sources.

Suncontract makes it possible to connect virtually any producer with customers. She started in Slovenia in 2018 and is now breaking through to more European countries. On the platform, you can also track your energy consumption and find specific advice on how to reduce it. This is also why Suncontract is becoming more and more popular in Africa and Latin America, for which energy savings are particularly important. In total, the platform cooperates with several dozen partners from all over Europe.

Suncontract cryptocurrency quotes

Currently, the Suncontract cryptocurrency (SNC) can be traded on 14 cryptocurrency exchanges from around the world. All planned units are already in circulation, i.e. 122 tokens. As of April 707, 503, each of them has to be paid $ 20, which translates into a capitalization of over $ 2021 million. The peak of trading took place recently, on March 0,05, 6, when SNC was valued at $ 30. Over the last 2021 months, the cryptocurrency has increased in value by 0,08%.

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.