Corrently Invest Token (CORI) ICO
STROMDAO developed an electricity tariff with a loyalty program allowing every electricity customer to do micro investments into renewable energy generation facilities (REGF). Primary purpose of Corrently Invest Token (CORI) is a profit distribution coming out of those micro investments. CORI shareholders get their energy bills deducted by the shared profit automatically. Shareholders without an electricity tariff could request a fiat currency payout monthly by filing an invoice to STROMDAO not later than 60 days after end of month (disagio, tax and handling apply).
Each Corrently represents one kilowatt-hour of consumed electricity. As consumption behaviors differ the amount of Corrently´s collected during a month is different as well. A single-family household with 3 persons for example might consume around 200 kWh of electricity and therefore collect 200 corrently´s per month. These Corrently´s can then be spent to purchase CORI Invest Tokens which in turn grants a shared profit of the REGF´s profit. The micro investment mechanism works directly off the customers electricity bill. The CORI Tokens are native assets backed tokens which are based on the ERC 20 Token Standard. That means that they are compatible with the Ethereum Blockchain. However, as the public Ethereum Blockchain is not yet suited to handle small scale and high-volume energy transactions STROMDAO developed the Fury Network – an open-source, Ethereum based blockchain specially designed for energy market needs.
In contrast to platform approaches (e.g. putting a wind-mill on a platform and granting the members of the platform a share of the wind-mills profits) STROMDAO does not act as a man in the middle. Yes, the REGF´s are selected by us and yes we decide the amount of CORI tokens which are equivalent to the REGF´s value. But once you buy CORI´s you are the owner. So, we cannot revoke your access, your ownership and therefore your profit claim. We are no middle man because blockchain technology enables you to create your own energy generation portfolio.
And that is the reason why we established Corrently. We believe in the potential of micro-investments for renewable energy, and that through its application, customers may find an easy and efficient way of to contribute into a sustainable power supply.
Our vision at STROMDAO is to allow asset owners to fund their activities as simply and securely as possible by utilizing digital currencies for project development. While at the same time enable electricity customers to gradually become energy prosumers simply by paying their bill and returning their Corrently´s into CORI Tokens.
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