Verv

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Verv (VLUX) ICO Review

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Verv is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameVerv
Token SymbolVLUX
WhitepaperView Whitepaper
Website LinkHome
Price1 VLUX = 0.67 USD
PlatformEthereum
AcceptingETH
Hard Cap35,000,000 USD

More about Verv (VLUX) ICO:

VLUX is launching an Initial Token Offering (ITO) in order to create VLUX tokens that will enable energy to be traded on the renewable energy trading platform that it has developed. By combining deep learning AI technology with blockchain, VLUX’s peer-to-peer (p2p) energy trading platform aims to improve access to affordable, low carbon energy.

What is VLUX?

Peer-to-peer energy and data trading protocol.

Company overview

VLUX combines deep learning AI with blockchain, to improve access to affordable, low carbon energy by enabling peers to trade.
Using VLUX’s existing energy monitor (“Verv”), VLUX obtains a comprehensive and real-time overview of the electricity consumption of a home.
Combining this with blockchain technology, VLUX aims to provide a secure and transparent ledger through which energy (and consumer data in a GDPR compliant fashion) can be traded on a p2p basis.
Green Running, the parent company of VLUX, was founded in 2009 with the initial focus on reducing energy consumption within the commercial market.
VLUX believes their blockchain-based trading platform represents a powerful solution to enable decentralized control and production of energy at the grid edge. 

Important Notice

The contents of this document are for informational purposes only. It is not intended as an offer or solicitation for any financial instrument or financial services in any jurisdiction. The issue of this document shall not be taken as any form of commitment on the part of Vlux Limited (the “Company”), its directors or its shareholders to proceed with the Token Sale, any negotiations in relation thereto or any other transaction.Any decision to participate in the Token Sale should only be made after reading the whitepaper relating to the Token Sale.Additionally, the information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material.Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited.The token sale is not directed at or intended to be accessible to or participated in by persons resident in any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction or would result in a requirement on the Company to obtain any consent or comply with any formality which the company regards as unduly onerous, including India and The People’s Republic of China. For those in the USA, only accredited investors will be able to take part in the pre-sale, and will not be able to take place in the mainsale at all.No regulatory authority has examined or approved of any of the information in this document. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this document does not imply that the applicable laws, regulatory requirements or rules have been complied with.To the maximum extent permitted by the applicable laws, regulations and rules, the Company, its shareholders, directors and advisers and any third party involved in the Token Sale shall not be liable for any losses of any kind, direct or indirect, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any reliance on this document or information contained within it.All statements contained in this document, statements made in press releases or in any place accessible by the public and oral statements that may be made by the Company, its shareholders, directors or advisers or any third party involved in the Token Sale, that are not statements of historical fact, constitute “forward-looking statements”. All statements regarding the Company, its financial position, business strategies, plans and prospects and the future prospects of the industry which the Company is in are forward-looking statements. None of the Company, its shareholders, directors or advisers or any third party involved in the Token Sale represent, warrant or undertake that the actual future results, performance or achievements of the Company will be as discussed in these forward-looking statements.This document includes market and industry information and forecasts that have been obtained from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications.Such surveys, reports, studies, market research, publicly available information and publications generally state that the information that they contain has come from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information.No information in this document should be considered to be business, legal, financial or tax advice regarding participation in the Token Sale. You should be aware that you may be required to bear the financial risk of any acquired VLUX tokens for an indefinite period of time.The Company does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to the truth, accuracy, and completeness of any of the information set out in this document. This document has been prepared to the date hereof and none of the Company, its shareholders or its directors, officers or employees has any duty to update this document or provide any further information following such date.

Summary

Since 2009, Verv has achieved significant traction in the UK energy industry for its patented disaggregation technology that provides households with a detailed appliance-level understanding of their electricity use. Following the successful launch of the Verv Home Hub (VHH), we plan to extend its functionality through the rollout of the Verv Trading Platform (VTP), a blockchain-powered energy trading platform that is being built to enable households and energy consumers to trade electricity in a peer-to-peer exchange. This whitepaper has four main objectives: 1. Show the need for change in the energy sector2. Demonstrate why Verv believes a peer-to-peer blockchain-powered platform is the right solution to the problem 3. Show why Verv believe they are the right company to provide the solution at the right time4. Outline Verv’s plans and progress to date, for making the VTP platform a realityThe VLUX platform is a work in progress. This whitepaper represents Verv’s current thinking on how the technology should be used and deployed. Technical and theoretical developments in the blockchain community are occurring at rapid pace, and Verv intends to incorporate new ideas and thinking as they emerge, should they support the overall objectives and goals of the VLUX platform.In Section 1, we provide an overview of the energy industry, and introduce the VHH, a non-intrusive load monitoring (NILM) device that samples electricity data at frequencies up to 5 million times greater than traditional smart meters. This paper demonstrates why Verv believes through their existing hardware, ultra-high resolution energy data, deep learning, and AI capabilities, they are uniquely positioned to provide an industry-leading energy trading platform. Section 2 explains how key industry challenges (increasing renewables installation, population, and electrification of heat and transport) are placing greater strain on the electricity grid, and why Verv believes a peer-to-peer energy trading solution will create an efficient market framework that empowers consumers to respond to energy infrastructure requirements (for example, by installing PV panels, batteries or providing demand response capacity). In Section 3, we illustrate how a peer-to-peer based sharing economy has opened up new opportunities in other industries, and show that with recent cutting-edge technological advances (blockchain, IoT, AI, machine learning), we believe a sharing economy for the energy industry is a viable reality. Sections 4 and 5 provide a technical overview of the VTP system, followed by our proposed business model. We discuss how the blockchain trading system works, and how we expect key stakeholders will benefit from the platform. Given the existing presence of Verv in the UK, this paper is focused on the UK for the first deployment of VTP, with a view to move quickly to Germany and the USA in the near future. Our long-term vision will be to provide a global electricity trading platform. Sections 6 and 7 provide an overview of Verv’s existing business and achievements in the domestic energy space, and an introduction to key team members, advisors, and project partner.

The Evolution of Energy & Verv

Background

Electricity is a critical form of energy, powering our electronic devices, lighting, heating and cooling systems, household appliances, and the Internet. Most of us cannot imagine a day without electricity – and when blackouts occur, our economy, society, and public infrastructure grind to a halt. Yet, though many of us take our electricity supply for granted, there are significant problems that Verv believes need to be addressed. The majority of our electricity is generated by dirty, inefficient, and expensive energy systems,1 causing health problems and exacerbating climate change.2Across the world, the present industrial structure is formed largely by vertically-integrated utility companies and network operators. With energy systems centrally controlled, these companies have a strong influence over how, where, and at what cost electricity enters our homes. However, with increasing penetration of micro scale renewables,3 growing public pressure around climate change, and advances in digital and communication technologies, Verv believes the democratisation of our power systems is rapidly becoming viable.Verv believes a transition to an empowered and sustainable energy future can be accelerated by focusing on four critical factors at the grid edge:

1) Access to granular information; in particular, understanding the drivers of electrical demand

2) Provision of domestic energy storage

3) Maintaining compatibility with grid incumbents

4) Automated and secure trading of energy at the grid edge via a traceable medium, blockchain.

The company believes a peer-to-peer trading platform provides the most effective and future-proof way to democratise our electricity system: by empowering households to sell their excess energy from solar PV or home batteries in an open marketplace, the correct market incentives can be put in place to support a long-term energy infrastructure evolution. Our proposed Verv Trading Platform (VTP) provides a blockchain-powered platform where energy can be traded with low transaction costs. As the percentage of intermittent renewable energy increases to meet our global carbon targets, Verv believes that reducing transaction costs is essential to support the grid-edge trading needed to balance demand against supply. Together, Verv believes the Verv Home Hub (VHH) and VTP present a powerful solution to enable decentralised control and production of energy at the grid edge. The VHH, a patented non-intrusive load monitoring device, is already available for sale in the UK, with further international orders placed. The device combines Verv’s ultra-high resolution electricity sampling capability, with an ability to be upgraded to enable peer-to-peer energy trading. Combined with Verv’s patented technology for appliance use disaggregation, Verv believes the VTP can provide the most competitive and advanced technological offering for a decentralised energy trading platform.

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