Grid Plus (GRID)

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Grid+ is making a hardware and software stack to create a secure Ethereum enabled gateway and connect Internet-of-Things (IoT) devices.

Joke Name

Grid+ = Energy Gateway

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (GRID)

Coin or Token

Circulating Supply (39 million)

Total Supply (300 million)

Market Cap Ranking

Review

Grid+ is developing a hardware and software stack to create a secure Ethereum-enabled gateway and connect Internet-of-Things (IoT) devices. The hardware gateway, or “smart energy agent”, is an Internet-enabled, always-on appliance which will securely store cryptocurrencies and process payments for electricity in real-time, which the team refers to as “The Smart Agent”. The Smart Agent will also be able to programmatically buy and sell electricity on behalf of the user and intelligently manage smart loads.

Crowdsale:

The Grid+ startup, based out of the US, managed to raise $32 000 000 during the duration of their crowdsale.

Key Features:

  • How it works
  • Tokens

How it works

Grid+ relies on a smart device called the Smart Energy Agent. That always-on device pays for the user’s electricity in real-time and always finds the cheapest energy source available. The smart device processes payments using BOLT tokens, which potential clients can purchase with US dollars. The price of 1 BOLT will always be pegged to 1 USD. BOLTs are fully backed by deposits. Grid+ customers will prepay with US dollars. In order to join the Grid+ ecosystem, users need to register their Smart Energy Agent and then purchase BOLT tokens using a credit card or bank transfer. After payment settles, BOLT tokens are transferred to their Smart Energy Agent. As long as the Smart Energy Agent holds BOLT tokens, it may read from the household smart meter and pay for electricity usage in real time. BOLT tokens can be used through the Grid+ web console. After the Smart Energy Agent holds BOLT tokens, users don’t need to do anything else until the agent runs out of BOLT. The developers also plan to implement an automatic payment option – so theoretically, using Grid+ will be as simple as paying your utility bills every month.

Tokens

GRID+ will operate with a two-token model, BOLT and GRID. BOLT token will be the exchange unit, redeemable by GRID+ customers for $1worth of energy from GRID+ and backed by USD deposits. The GRID token will allow Grid+customers to purchase electricity at wholesale price. In particular, each GRID token may be redeemed by a customer for 500 kWh of electricity from GRID+ at the wholesale price.

Problems:

The first apparent problem with the project is that they have no business partners in the energy sector. They would also have to invest a significant amount into hardware development. As always, with such platforms there is an uncertainty about customers’ adoption. And finally, the token value is linked to the electricity market price.

Conclusion:

Grid+ plans to use Ethereum blockchain technology to implement a sharing economy into the energy industry. Using existing electrical grids and an always-on smart device, Grid+ allows customers to access lower energy costs, earn money through energy sales, and take part in an energy marketplace. The project is currently coming out of a testing phase, so we’ll abstain from any hard judgements.

Pros

  • Good project
  • Improving electricity

Cons

  • No direct backing (asset, profits, commodity)
  • Limited partnerships
  • Limited exchanges