Electrify.Asia
Crypto Overview
Project Overview
Electrify.Asia was launched in 2017 as a decentralized electricity marketplace platform for Asian markets. The ELEC token was designed to facilitate transactions between electricity retailers and consumers on the platform. The project aimed to create transparency in energy markets and enable peer-to-peer energy trading.
Utility Assessment
The intended utility of ELEC tokens included: facilitating payments between consumers and retailers on the platform, powering smart contracts for electricity purchases, and providing access to the marketplace's features. The token was meant to serve as the primary medium of exchange within the Electrify ecosystem.
Current Status
As of 2024, the project appears to be inactive. The official website is no longer operational, social media channels have been dormant since 2019, and there is no evidence of ongoing development or maintenance of the platform. The last significant updates or partnerships were announced in 2019.
Development and Adoption
While the project initially showed promise with partnerships in Singapore and Japan, there is no current evidence of real-world adoption or active usage of the platform. The development activity has ceased, and the project's GitHub repositories show no recent commits.
Token Distribution and Governance
The initial token distribution included allocations for the team, advisors, and public sale participants. Due to the project's current inactive status, detailed information about current token holdings and distribution is limited.
Crypto Impact
To assign a comfort level investing in Electrify.Asia from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Electrify.Asia.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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