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Xun Power Corporation

Blockchain

SURPLUS ELECTRICITY

  

Xun Power Corporation (XPC) plans to scale up flywheel energy storage units to grid size, manufacture, test, construct on site facilities, install, operate the flywheel energy storage units and market the stored energy. The business model is to: "Capture wasted electricity with flywheel energy storage units and reintroduce the captured electricity back into the grid as a power producer”. XPC’s main revenue stream, as a Producer, will be Power Purchase Agreements with the various Grids/Utilities (PPA). All of the FES installations will capture more electricity than the required contractual obligation of the PPA with the Grids/Utilities resulting in surplus electricity captured. Our main bread and butter revenue will be earned from the sale of the captured electricity through the PPA. Surplus electricity captured and not sold through the PPA will be sold as “ENERGY POWER PACK (EPP)”. One (1) Energy Power Pack = 1,000 KWh of electricity. 


The energy sector is moving in the direction of Transactive Energy whereby the electricity is sold using blockchain technology. XPC plans to sell the surplus electricity as Transactive Energy using Blockchain technology.

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BLOCKCHAIN

Blockchain is a shared, distributed ledger that facilitates the process of recording transactions and tracking assets/commodities in a business network. An asset can be tangible — a house, a car or a commodity such as electricity. Blockchain is a shared ledger for recording the history of transactions - that cannot be altered. 

Business networks today are often inefficient because each participant in the network keeps records, or a ledger, of all transactions between all the parties that the business interacts with. This process is expensive because of duplication of effort and intermediaries adding costs for their services. One solution to this problem is blockchain, which provides a shared ledger technology that allows any participant in the network to see the one system of record, or ledger. By using blockchain technology, businesses can benefit from a more efficient transfer of goods and services.

IBM BLOCKCHAIN

XPC plans to work with IBM in its blockchain development. We chose IBM because they are a global leader in building blockchain on the cloud, with vast experience in blockchain projects around the world and across multiple industries. IBM researchers are working with clients, governments and academics to design and develop blockchain solutions that create trust and remove frictions inhibiting business. IBM is building networks to simplify and secure all types of digital transactions, from financial exchanges, supply chains, IoT (Internet of Things) and risk management to digital rights management and healthcare.


IBM has been developing blockchain since 2015. On March 20, 2018, IBM announced the launch of their new IBM Blockchain Starter Plan (in Beta) as a way to facilitate more Blockchain use in businesses of any scale, according to an IBM blog post from March 16, 2018 and the 72-hour live stream from conference Think 2018 on March 21, 2018.


The IBM Blockchain Starter Plan will be free for the duration of its Beta version, but then will have a 30-day free trial once the plan becomes fully implemented. As CNBC reported on March 21, 2018, the starter plan is a “cheaper alternative to Big Blue's current enterprise plan for firms looking to develop blockchain applications.” Marie Wieck, the general manager of IBM Blockchain, told CNBC that the new plan is “perfect for pilot projects and early stage development work for those who want to build solutions on the IBM blockchain platform, which currently has over 250 active blockchain networks”:


According to their live stream, IBM has been working with Blockchain technology since 2015 as a way “to bring it mainstream.” In 2016, the company began testing Blockchain technology “on themselves”, using Blockchain in their financial services business to “optimize reconciliations from vendors to suppliers.” IBM also entered a partnership with Walmart in 2016 for a test Blockchain program on food products’ supply chains, specifically mangoes.


IBM is working with the Linux Foundation’s open-source Hyperledger Organization to reimagine blockchain from the ground up - to create a new breed of blockchain suitable for business use across industries and the regulatory environments they operate in. From engagements with over 400 clients around the world and over 40 networks that have graduated to active states, IBM has helped their clients learn what it takes to go from a good idea on paper to a value producing blockchain network. IBM chronicled some of these initial best practices in The Founder’s Handbook (link: https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=28014128USEN&appname=skmwww) to make their client’s journey in joining the blockchain revolution easier. The world has only seen the tip of the iceberg when it comes to blockchain for business; there’s untold opportunity for more value and more use cases that could change the face of every industry, including XPC’s. IBM will continue to bring new learnings from these emerging networks in future versions of the Founder’s handbook.

IBM Blockchain Platform

The IBM Blockchain Platform (trademark) is an integrated platform designed to accelerate the creation of a "built for business" global blockchain network across industries and use cases.

IBM has worked with more than 400 clients globally and across industries from design to implementation. Their experts will help XPC to achieve tangible outcomes to uncover new revenue streams, save time, cut costs and reduce risk.

ADVANTAGES OF BLOCKCHAIN

1. Greater transparency

Transaction histories are becoming more transparent through the use of blockchain technology. Because blockchain is a type of distributed ledger, all network participants share the same documentation as opposed to individual copies. That shared version can only be updated through consensus, which means everyone must agree on it. To change a single transaction record would require the alteration of all subsequent records and the collusion of the entire network. Thus, data on a blockchain is more accurate, consistent and transparent than when it is pushed through paper-heavy processes. It is also available to all participants who have permissioned access. To change a single transaction record would require the alteration of all subsequent records and the collusion of the entire network. 


2. Enhanced security

There are several ways blockchain is more secure than other record-keeping systems. Transactions must be agreed upon before they are recorded. After a transaction is approved, it is encrypted and linked to the previous transaction. This, along with the fact that information is stored across a network of computers instead of on a single server, makes it very difficult for hackers to compromise the transaction data. In any industry where protecting sensitive data is crucial — financial services, government, healthcare — blockchain has an opportunity to really change how critical information is shared by helping to prevent fraud and unauthorized activity.


3. Improved traceability

If a company deals with products that are traded through a complex supply chain, it is hard to trace an item back to its origin. When exchanges of goods are recorded on a blockchain, you end up with an audit trail that shows where an asset came from and every stop it made on its journey. This historical transaction data can help to verify the authenticity of assets and prevent fraud.


4. Increased efficiency and speed

When traditional, paper-heavy processes is used, trading anything is a time-consuming process that is prone to human error and often requires third-party mediation. By streamlining and automating these processes with blockchain, transactions can be completed faster and more efficiently. Since record-keeping is performed using a single digital ledger that is shared among participants, you don’t have to reconcile multiple ledgers and you end up with less clutter. And when everyone has access to the same information, it becomes easier to trust each other without the need for numerous intermediaries. Thus, clearing and settlement can occur much quicker.


5. Reduced costs

For most businesses, reducing costs is a priority. With blockchain, XPC will not need as many third parties or middlemen to make guarantees to complete a trade because everyone will have permissioned access to a single, immutable version.


Broad benefits from blockchains are across six areas: product safety and authenticity, supply chain optimization, finance, operational processes, promotional strategy management, and customer engagement and co-creation.