WÜRSELEN, GERMANY / ACCESSWIRE / August 28, 2019 / 95% of all companies on the blockchain market attempting to raise funds through an ICO / STO or an IEO are start ups. With this number in mind, one cannot be surprised by the abnormally high rates of failed projects on the market – over 90% of all ICOs disappear within the year of their launch.
Companies that have existed for at least 3 years on the market have proven to be much more successful with their blockchain initiatives compared to newly founded startups.
These companies not only have obtained valuable market insight on their respective markets, but have also built a strong customer base and have valuable resources – financial, human capital to partner networks and legal certifications.
An experienced company founded in 2009, with a solid base of 50.000 customers and a vast network of more than 1100 direct partners and 10.000 external providers is about to become the first electricity provider and energy contractor to adopt blockchain technology. We are talking about LCG Energy, a German based company with subsidiaries across 5 countries.
About LCG Energy
LCG Energy is a licensed energy supplier, reseller and contractor with over 10 years of experience. Founded in 2009, the company has established itself as one of the few supply companies on the German and Austrian energy markets, an achievement that requires a lot of expertise and resources considering the extremely high entry barriers from a financial, technical and regulatory standpoint. Building the necessary technical infrastructure in order to satisfy the energy demands of over 50.000 customers requires substantial capital investments and years of preparation and LCG has done it.
The history of LCG Energy is as impressive as its achievements in the past several years.The company has been established and funded completely with private funds and has managed to score excellent bottom-line financial performance every year. With a revenue of 20M EUR in 2018, and a projected revenue of 90M EUR in 2019 thanks to the closing of several important partnerships in the industry,
In 2015, LCG Energy has been certified by the German and Austrian Federal Network Agencies for Electricity, Gas, Telecommunications, Post and Railway, a major milestone for the company positioning it as one of the few independent electricity providers in the D-A-CH region.
LCG Energy has established its purpose to provide small to medium-sized businesses and individuals with better energy prices and help them optimize their energy consumption. One of the ways they have managed to achieve that is due to their expertise in trading energy on the open market, resulting in up to 20% below average prices for the end customer compared to traditional electricity providers.
As an energy contractor, the company is specializing in the optimization of energy consumption for individual households and businesses with the help of Smart Meters. Smart Meters are innovative devices that function as the traditional electrical meters at home but are able to transmit data virtually to a central data point. The advantages of Smart Meters are numerous – first, there is no need for company representative to do manual readings, which is resource intensive for the company and results in higher prices for the consumer. Second, Smart Meters allow for energy usage data collection and aggregation with a wide access to it through mobile devices and computers. What is more, collecting and analyzing data digitally enables valuable insight about the power consumption of each individual customer, allowing for tailored suggestions and strategies such as:
Elimination of power consumption by standby devices
Elimination of so called “creeping current” that not only increases energy consumption but also potentially creates the danger of malfunction which could lead to severe consequences for the property and the well-being of its inhabitants or workers.
Spotting inefficient processes within electrical devices and machines
The potential savings from Smart Meters can reach 20 to 30%, resulting in average savings for household with a 4000 kWh consumption amounting to 200 EUR per year or 1355 EUR for a medium-sized business with a 50000 kWh yearly consumption.
The LCG Energy project
Drawing on their strong foundation and market experience, the LCG Energy company has been researching the possible use cases of blockchain technology in the energy industry for the past two years. As a result, the first plans for the LCG Energy ecosystem emerged approximately a year ago and the first prototype of the LCG platform was born.
The purpose of the ecosystem will be to empower the end consumer and allow him to benefit from the increased transparency, security and improved transactions that distributed ledgers can offer. The LCG platform will enable direct customers of LCG Energy to pay for their electricity needs with the LCG tokens. Users who do not have access to the direct services of the company will be able to obtain energy related services and products from the supplier and partner network of LCG Energy. Furthermore, investment opportunities in renewable energy projects that have been strictly evaluated by LCG Energy will be made available on the platform.
Last but not least, there is much more that blockchain can offer to the energy industry from a technical standpoint when integrated to the Smart Meters that LCG Energy is already installing.
LCG Energy is one of the few companies on the blockchain market that has existed for more than 10 years and is here to stay. With their vast market expertise and an established technical infrastructure, the company is equipped with the knowledge and resources to change the traditional monopolistic structures on the market that hurt the end consumer.
SOURCE: LCG Energy
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