BlockTalks x Candela Coin AMA Transcript!

Hello! BlockTalkers & Blockchain Enthusiastic!

We recently hosted an AMA with Candela Coin, on 4th August 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Avi Shane Verdugo, CEO at Candela Coin & Sam Rosenberg COO at Candela Coin. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.

Introduction Questions Asked By BlockTalks

Q1. Could you please introduce Candela Coin to our community in layman’s term?

Ans Our vision is to create truly decentralized solar energy all across the world made up of we the people, not the power companies or middlemen. We have created IoT hardware and software for seamless peer-to-peer energy transfer. By using blockchain technology we enable owners of solar panels to sell their generated energy to other users, bringing in the best returns possible for their solar energy and the cheapest green energy on the market. People across the globe will be able to transfer solar energy to others in their communities using Candela coin as a medium of exchange. Our decentralized system does not rely on the existing power grid infrastructure. In the event of inclement weather, power outages, or down power lines, decentralized solar power will still be able to be generated and provide electricity to the community. Candela is the impetus for the democratization of energy.

Q2. What are the advantages of Candela Coin to other alternatives in the Blockchain field?

Ans — We’ve designed our ecosystem to have an extremely low barrier to entry to power generation. We also provide an easy seamless experience using a simple, single token system. We also don’t require or need to integrate with any existing physical grid infrastructure or power entity.

Q3. What are the major milestones Candela Coin achieved so far & what are in future pipeline?

Ans — In the future our major milestones will include continuing to refine our DApp, rolling out the initial IoT devices, and achieving major exchange listings. Of course continued market awareness is a continued goal and milestone for us at Candela Coin.

Questions Asked on Twitter For Candela Coin!

Q1. Does CandelaCoin really need the Blockchain, Centralized Solar Energy providers are doing well without the blockchain, so why exactly did you choose to
Implement your technology on the blockchain?

Ans — Candela Coin is not an energy provider. In fact our aim is to allow people to power their lives independently without major power providers. Blockchain technology allows us to do this.

Q2. Candela coin’s goal is to truly democratize & decentralize energy for all so that the world is no longer dependant on large monopolies and corporations for their energy. Could you tell us how you aim to achieve this?

Do you really think it’s possible to remove the current infrastructure that keeps our nations tied to these corporations and entities?

Ans — Yes not only is it possible but it’s much less expensive and the barrier to entry is much lower than people think. For the expense of say an Xbox or less users can begin producing and purchasing their own energy. Through our IoT devices and seamless DApp we plan to make it simple and easy to independently power your life.

Q3. What are the problems Candela does aim to solve in crypto space?
Do you have solutions to address the shortcomings in the use of solar energy ?

Ans — Some of the issues that we aim to tackle in the crypto space is A: providing a truly free and open ecosystem for individuals completely independent of current infrastructure and shackles. The crypto space currently hasn’t successfully allowed separation from main entities

In terms of solar energy at scale we can create unseen efficiency because you have many saturated small sources of energy rather than having one large producer and trying to move that energy.

Q4. The concept of utilizing blockchain to decentralize power and energy is a new but not novel concept. There have been a several attempts in the past aim at removing the need for large monopolies and power companies that control the price and supply of the power we rely on.
So how’s Candela coin approach different? How do you aim to put the Power back into the hands of we the people?

Ans — There’s lots of great projects out there but what we didn’t see was a truly decentralized and democratized system for power and that’s what crypto is really all about. So we’ve designed everything with those principles in mind. We utilize a simple, single token system, and we design our eco system to empower individuals not corporations.

Q5. Where did the idea of linking the world of blockchain with energy and electricity companies come from? How has Candela contributed to traditional electric power companies?

Ans — Candela Coins mission is free people from electric monopolies and companies. Our aim is to contribute to the individuals ability to power themselves.

Questions Asked by our BlockTalks Community Members during live Session for Candela Coin team!

Q1. Candela coin is the medium by which people exchange the energy. Through our DApp we create a bid and ask spread to guarantee a transaction takes place seamlessly. Through our smart contracts we then designate the power from one IoT device to the next automatically.

Ans — Candela coin is the medium by which people exchange the energy. Through our DApp we create a bid and ask spread to guarantee a transaction takes place seamlessly. Through our smart contracts we then designate the power from one IoT device to the next automatically.

Q2. There many projects that claims they are fully Decentralized. But they done their work in a Centralized way. How can we sure that CandelaCoin is fully Decentralized? Can you please tell us what’s CandelaCoin working method?

Ans — We are fully decentralized in that individuals who produce and generate electricity via their solar panels can sell and transfer that energy to others in their community. This is done without the power company, utility company or any central entity.

Q3. In Africa, over 80% energy source is from fuel wood which contributes to global warming and increasing her carbon footprint.
What are Candela team geographical focus at the moment? Any plans of penetrating the African market?

Ans — We are focused globally and believe this is truly for everyone. But we see emerging markets like Africa and Germany as thriving locations simply based off necessity. And for a country like Africa or other emerging markets where the physical infrastructure is weak or non existent this is a fabulous solution.

Q4. How will P2P energy be purchased directly with Candela? What type of energy will it be and how can I use it?

Ans — Community participants will purchase energy from each other. The IoT hardware device that functions
as a distributed computing node and an asset control switch. This device permits the designation of certain kWh units of locally produced energy to be marked and offered for consumption by
adjacent local participants using the same component. The transaction is “cleared” within this system between the meters through machine-to-machine management and the app/web interface through management of distributed ledger entries.

Q5. How do you plan to spread awareness about your project in different countries where English is not spoken well?
Do you have local communities for the them to let them better understand about your project?

Ans — Due to the global nature of our product one of our nearest goals and initiatives is getting our white paper translated into as many languages as possible. We view emerging markets as critical to our success.

Q6. Decentralized Finance (DEFI) is very popular right now, but what about Decentralized Energy (DeEn)? Are you planning to launch your own energy exchange in the future?

Ans — We view DEFI as something that could be potentially very interesting with Candela Coin. We are continuing to explore these applications as things develop.

Q7. Can I participate in Candela with others types of sources of Energy? Like wind power? Or hydroelectric?

Ans — Current we are focused on solar as the technology is more advanced and has lower barrier to entry. But the infrastructure we are building is certainly scalable to other methods of generation.

BlockTalks is all about Blockchains & Crypto. We do discussions about new Blockchain projects, the innovations & such more.

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