All you need to know about the Wave based project Ecogem

We are quite sure the global demand for power and clean energy is not to be over emphasized. As much as the demand is growing higher everyday, the concerns as to the effects of power generation on the ecology of nature is what has continued to spark up a global debate.

We are also very much aware of the growing business in cryptocurrencies and the accompanied energy consumption with global players like the retail giant Walmart registering patents in this same area of energy. The springing up of mining pools to support the energy requirements of mining several cryptocurrencies in the market has been on the upsurge with a crypto like the Ethereum seeking to switch from the traditional Proof of Work to a lesser energy consuming Proof of Stake consensus protocol. EcoGEM Club has a well thought out plan to capitalizing on the many opportunities that some of the challenges in this sector presents, turning them into a profit making enterprise.

EcoGEM Club business model is unique as it is a club in the literal sense of it. It should be understandable right from the name of the project. We can categorically state that it is not a common thing to see a mining club or do you know of any out there? Surely you may say, there are lots of them if viewed from the perspective of forums, chat groups/rooms, etc. But that is not actually a club. People do not see each other there and it’s all virtual, not characterized with real life touch.

IMG-20180714-WA0000

How about we dig into what a typical club looks like?
A Club real meeting point for people with common interests (business, developmental, entertaining, collecting, etc.), often formally united in a community, organization or association. A club usually occupies a certain room and serves for regular meetings and communication of its participants.

The EcoGEM ecosystem will comprise of two folds, one will be able to physically visit both a mining farm, in an excursion sort of way or a usual attendance and a virtual social media part of the project both in the EcoGEM Club where one can find assistance whether from a store, a repair workshop or a research facility as supported by EcoGEM Club. On the territory where the EcoGEM power generation site is operational, a fully functional guest house for visitors or members of the club is present. So even if you would come from a distant point you will surely find a place to rest in the club.

Employing some of the most sophisticated mining equipment in its’ business
The club has got its own purpose which comprise but not limited to becoming a major player in the mining of coins and also to form its’ own mining pool to mine in a “solo” mode for a some select coin like the Nimiq in prospect. As we scale in operations, we will also compete favourably to control a sizable share in the mining of newly established coins. This would bring profit situation to all participants of the mining club which translates to a “win-win” situation for all.

As a company that has decided to infuse blockchain technology into the energy sector, the electric station uses the blockchain network to register its’ work as the blockchain is the same as just a log with a certain information hence the smart contract makes automated transactions using the blockchain without human interference in respect to all the feeders of electric power using the power plant. Let’s say we have an electric feeder like an electric kettle or a microwave oven, when a user switches it on, the smart contract receives a signal that there is a request to use electric power supply from a certain user/address (city, street, house number etc.). In the technical sense of it, the smart contract sends a service request to the blockchain to ascertain the balance of the user. If the balance is 0, the user will not be able to switch on any electrical device in the house until the wallet balance is filled up with some EcoGEMs or if there is a credit option applied to this user.

Now, lets imagine that there are some tokens on the balance, when the kettle has done its’ work and has been switched off the smart contract would fix the data transferred from an embedded watt meter as a part of a smart house automated management system KNX.

A little mathematical representation of the working scenario

2 kWt/h*10 minutes of usage of the electricity stand = 0.333 kWt per this work * fixed kWt/h rate (0.05 EcoGEMs) = 0.017 EcoGEMs as a total for this piece of work. So, the smart contract after retrieving this info from the controller should fix this as a log (data, user, kW/h, price, total sum, was it a credit?, etc) within the used blockchain (whatever it would be, perhaps Waves) and address to a user’s wallet where there should appear a positive balance in it, and this sum of money should be withdrawn automatically by the smart contract as soon as the electric goes off.
This is a picture of how the working model of the automated system of electric power distribution that will be generated from our set-up running under the smart contract functionality plugged into the blockchain network should appear with us trying within our available resources to achieve the model as presented above.

To further broaden the scope of the EcoGEM Club project, it has got a sandwich structure as it comprises many aspects from different businesses and parts of life so it’s not only electric power generation and consumption by the feeders like miners but it’s also a trading hub as the mining spare parts are very profitable business of which the EcoGEM Club boasts of a highly broad experience in that industry. As opportunities arise to trade with a ready-made compact hybrid solar-wind power stations for small villages or cottages we will after thorough scrutiny of these types of opportunities take them up thereby creating verticals alongside the growth of EcoGEM Club.

It is also worthy of note that the project more probably will be set up in unmanned areas, attracting people to the places where the project exists and looking at some experiences in regard to solar power stations in some years there may appear a certain town infrastructure around or near it boosting the business and consumption of EcoGEM’s power generation.

Championing Alternative and clean Energy Creation Methods
Building a world class business entity such as EcoGEM Club entails a corresponding investment into research activities, EcoGEM Club in its proactive and forward looking business approach has deemed it fit and have already set up a laboratory for studying alternative methods of power generations with renowned specialists skilled in this sphere comprising Engineers, Physicists and Mathematicians dedicated to carrying out ground breaking researches in this sphere working with us.