If you ask us: “Why did we name our article GEC GREENENERGYCOIN – NOAH’S ARK FOR BLOCKCHAIN?”
We will answer that we do not claim to play an exclusive role as the Blockchain system saviour, which is nowadays in a state of stagnation. Pride is not our sin. Taking our project as an example, we want to show which way to go in order to pull Blockchain out of this state. And how to change opinion and vision of the Blockchain system Investors’.
Times of change.
The great Chinese philosopher Confucius once said: “God forbid you live in the times of change. But if it has already happened, then may God help you to take advantage of the new endless possibilities!”.
And his judgments were absolutely right. Human society is always painfully living through the change of times. And the Mankind history can definitely confirm this.
It just so happened that we have to live in the era of global changes, both geopolitical as well as financial and economic. If geopolitical changes are still bloody and painful, the financial and economic ones are strangely undergone more smoothly and correctly. Obvious and intervening competition between financial systems does not shift to radicalism and bloody battles. Most probably, Humanity has learned something in its thousand-year history.
The Great Recession, the latest financial and economic crisis of 2007–2009, has become the detonator that compelled the human community to global changes in the financial and economic realm.
The financial and economic system that emerged at the turn of the 20th – 21st centuries, has demonstrated during the Great Recession its vulnerability and inability to evolve under the conditions of the new age, which in fact resulted in the financial and economic crisis of 2007-2009.
It has become apparent that the time has come to reform the old conservative financial and economic system.
As we all know: demand breeds supply. And the offer did not take long in coming.
The society has accepted with great enthusiasm the decentralized Blockchain system proposed by Satosha Nakomoto in 2009. The Blockchain system has gained widespread acceptance and was rapidly implemented into the financial, economic, social and political spheres of human society.
Blockchain system is so ingenious and simple that Satosha Nakomoto can be correlated; either to a mysterious Genius, or to an alien origin Being. The rise of the Blockchain technology reminded of a volcanic eruption, and its progress reminded of the volcanic lava movement, which slowly but steadily moved forward and absorbs all obstacles on its path. Cryptocurrency market enthusiasts were confident that this would result in emergence of a decentralized banking system.
2018 cryptocurrency market crisis.
Blockchain is undoubtedly a revolution, thus the old problems remain unchanged. The larger part of the society, having its mind blown by Blockchain’s technical wonders, has completely forgotten the fact that fundamental economic laws were never abolished.
And nowadays, after the 10-year boom of the Blockchain system, we can observe the same crisis phenomena within the cryptocurrency market.
Fanatically-minded cryptocurrency market adepts may object, claiming that there is no crisis at all. And the crisis phenomena that have arisen can be explained with “market correction”, a term nobody really comprehends.
But let us disagree. Today we can observe an indisputable fact, namely that the capitalization of the cryptocurrency market for the 6 months of 2018 fell by an average of 55%. We have witnessed a similar situation during 2007–2009 crisis.
Thus and so, the year 2008, in comparison with 2007, has seen the fall of financial markets capitalization by: 41.1% in the US, 52.5% in the UK; 47.3% in Germany; 45.7% in France; 24.7% in Japan; 60.3% in China; 58.1% in South Korea; 64.5% in India; 56.8% in Brazil.
MVIS CryptoCompare Digital Assets 10 data from Nasdaq, which tracks the performance of the ten largest and most liquid cryptocurrencies, as of September 12, 2018, has revealed that the digital asset market fell from January 2018 heights already by 80%. And current investors, who decided to bet on a revolutionary technology, are experiencing a very painful condition, as of September 12, 2018, the total market capitalization of cryptocurrencies equalled to $ 187.4 billion, which is the lowest index for 2018.
There are many reasons for the emerging cryptocurrency market crisis, but the main one is the fact that market participants have neglected the basic economic laws.
The basic formula of any market is the following:
COMMODITY → MONEY → COMMODITY
COMMODITY → CRYPTOCURRENCY → COMMODITY
That is, the produced commodity should be sold for cryptocurrency, and the resulting financial assets should be invested in the production of commodity.
But for some reasons everyone has forgotten this fundamental economic formula. Only one of Blockchain’s “whales”, Vitaly Buterin, realises this, which can be understood from his phrase: “I will be happy if I could buy a box of matches with a Bitcoin when in Supermarket”.
We attribute the cryptocurrency market crisis to the emergence of imbalances in international trade and capital movements.
Bitcoin, which is the defining cryptocurrency on the market, has already lost the status of a unit of account, and in return has acquired the status of an investment asset. That is to say, that most of the Bitcoin is derived from the commodity-money turnover and is frozen for an indefinite period of time in Investors’ “cold wallets”. Thus, Bitcoin has a minimum participation in the commodity turnover.
Bitcoin is not stable and has a high degree of volatility, which also makes it difficult to use it in commodity-money transactions. And since Bitcoin is the defining cryptocurrency on the market, then all other cryptocurrencies are reeling along with it.
If you ask us: “Why?” – We will reply: Because Bitcoin rate is not determined by the liquid commodity weights, instead the Bitcoin rate is determined on cryptocurrency exchange market, by stock gamblers, who are very profitable to maintain instability and high volatility of Bitcoin. The rise and fall of Bitcoin price by 1000 points brings super-profits to stock gamblers, it is truly hard to give up such profits.
Many large investors, the “whales”, keep Bitcoin in their “cold wallets”, thereby restraining cryptocurrency circulation and development, they do not realize that their actions are only destabilizing Bitcoin.
Any currency be it EURO, USD, GBP or Bitcoin – must be in constant circulation, but not to remain without movement, locked in safes, chests or in “cold wallets”. Sooner or later, such a currency will depreciate and turn into dust. As it has repeatedly happened previously with many examples available.
Blockchain provides new unlimited opportunities. One of the main features of the Blockchain technology is the possibility of attracting investments through ICO (Crowdsale) for the purpose of projects implementation. It would seem that the simplicity and accessibility of investments attracting process should have filled the cryptocurrency market with liquid commodity weights and, consequently, increase the level of commodity-financial turnover, but alas, everything is not as cloudless in this Blockchain direction as we would like it to be.
According to Satis Group LLC study:
81% ICO is a scam.
80% of startups do not bring their tokens to the stock exchange, that is to say Investors have lost their money.
Team unprofessionalism as well as their dishonesty, lack of understanding of project’s full development cycle and life, resulted in the same negative results.
20% of startups that have reached the stock exchange, leave their tokens to the merсу of fate and feed them to the stock gamblers. And again, Investors are suffering.
Incompetent projects teams having no economics and finance experts, unwillingly, allow such actions, which also lead to negative consequences.
95% of Blockchain system is developing in the IT sector, almost completely avoiding the “real” sector of economy. Not realizing that the Blockchain system is much wider and more demanded.
Most popular ICO sectors:
- stock exchanges;
- financial services;
- video games;
- Blockchain infrastructure.
Certainly, it is necessary to develop cryptocurrency stock exchanges, financial services, and improve Blockchain technology. But all these will not be in demand if the cryptocurrency market collapses. And all efforts in these regards will be vain.
Although things are not all that bad in the cryptocurrency market, there is a number of projects aiming to attract investments through ICO in order to implement projects in real sectors of economy, related to production of liquid and in-demand products. But unfortunately, the number of such projects is still small comparing to the general background.
One of such projects is our GEC GreenEnergyCoin project.
GEC GreenEnergyCoin project.
GEC GreenEnergyCoin is a blockchain project focused on the energy sector of the world economy in the field of “Green Energy” – electricity production from renewable energy sources.
GEC GreenEnergyCoin is a product of an investment grade block chain. It is a derivative that uses both advanced financial and industrial technologies to produce and sell highly-demanded liquid commodities.
Electricity is such a product, it is consumed and sold in the markets of different countries that face constant electricity shortage and depend on its import.
GEC GreenEnergyCoin is a Blockchain project uniting Investors who have decided to finance in construction of solar power plants. And decentralization should ensure the independence of the project and eliminate the negative factors influencing the process of trade relations between electricity producers and its end users.
In the framework of this project, it is planned to build and launch in Croatia 3 solar power plants with a total capacity of 150 MW/h.
The total electrical power will make up 359,635,002.26 kW/h per year.
The total project value is € 140,000,000.00.
Project implementation period: 5 years.
Payback period: 3 years.
GEC GreenEnergyCoin project will constantly expand. Future more it is planned to build additional solar power plants, both in Croatia and in other countries of the Balkan Peninsula. It is also planned to build 12 solar power plants in Mongolia, with a total capacity of 3,600 MW/h.
GreenEnergyCoin token (abbreviated – GEC token) was issued in order to attract investments for the project.
GreenEnergyCoin token (abbreviated – GEC token) was issued on the Ethereum platform and is fully compatible with the ERC20 standard.
GreenEnergyCoin token (abbreviated – GEC token) will be backed by the produced electricity.
The cost of one (1) GEC token is equal to the cost of one (1) kWh of electricity in accordance with the “Green Tariff”: 1GEC = 1KWt / h = € 0,10
GEC token owners can purchase electricity from the manufacturer at a wholesale price.
Stichting OFEK Hi-Tech Investment Foundation, Netherlands is the issuer of GreenEnergyCoin token (abbreviated – GEC token).
By the end of the public sales, ICO, GEC token will be listed on the international cryptocurrency stock exchange and will be available for a buy/sell transaction and exchange for fiat money.
By the end of the public sale – ICO and the completion of construction and commissioning of 3 solar power plants in Croatia, the Issuer will continue to ensure GEC token financial stability on the market.
In the course of project implementation and completion, the Issuer will conduct a monetary policy with respect to the GEC token.
If necessary, the Issuer will use all available and legal methods and means to stabilize the GEC token rate on the market.
The GEC GreenEnergyCoin project team consists of professionals: innovative technologies experts, engineers and technologists, managers, economists with experience in the energy sector, economy and finances experts, a group of international Companies is also being involved.
Features of GEC GreenEnergyCoin project:
- Continuous evolution and expansion of the project.
- Commodity security of the released cryptocurrency – GreenEnergyCoin token (abbreviated – GEC token).
- Token is listed on the international cryptocurrency stock exchanges.
- Conduction of a monetary policy on the market in relation to GreenEnergyCoin token (abbreviated – GEC token).
- High professional level of GEC GreenEnergyCoin project team.
We are not the first, but we hope we are not the last. We believe that following our experience with Blockchain, after evaluating its unlimited possibilities, the big business will be eventually involved. And continuing the idea of Vitalik Buterin, we want to say: “That we will be happy when looking at the London Stock Exchange “BRENT” quotes, we will observe the prices for crude oil in Bitcoins.”
The pre-sale stage (PreICO) will launch on October 15, 2018, lasting until December 15, 2018.
In the PreICO period, GreenEnergyCoin token (abbreviated – GEC token) can be bought with a 50% discount; 1 GEC = 0.5 EURO.
Accepted currencies: EURO, USD, GBP, ETH, BTC.
There are no maximum nor minimum restrictions on purchasing GEC token.
Welcome! Details are available following the link: https://www.greenofekcoin.com/.
About The authors:
Mr. Sergii Ivanov, Chief Executive Officer, GEC GreenEnergyCoin project.
Mr. Aliaksandr Samoila, Chief Сouncilors Officer, GEC GreenEnergyCoin project.