Elastos (ELA), currently trading at $79.93 with a 24-hour trading volume of $101.7 million according to CoinMarketCap, has partnered with iNex, a green energy exchange focused on the “new ecology of energy internet.”
— Elastos (@Elastos_org) February 28, 2018
Elastos is marketed as a “smart-web powered by blockchain.” Their mission is to create a new internet, where people are incentivized to participate by earning coins. In this ecosystem, users are able to physically own their digital assets. For example, on the current internet, when you buy an eBook from Barnes & Noble, you are purchasing the rights to download and read that eBook from a central server. However, you do not necessarily own it in the way that you might own a physical book, where you could sell your copy of the book to a new property owner. Elastos hopes to change this.
On Elastos, you would be able to access articles, movies and games without using a media player or other separate platform. These digital assets would be assigned IDs on the blockchain, designating ownership to individual copies of the content, with the added bonus that better analytics data would be available for content creators, who could query the blockchain to determine the exact number of people who have viewed their content.
The New Energy Exchange Ltd. (NEX) was established in 2012. They founded iNex with a mission to leverage new blockchain technology to create a globally connected network of energy transfer including wind, solar, hydro power and energy storage. As a service provider, they focus on resource integration, the advancement of new strategies, innovation and global markets.
While the marriage of an internet of content, and an internet of energy is a bit unclear, the two companies appear to have the resources to grow. The overlap is in blockchain technology and sharing technical expertise in the development of the two platforms. The Elastos Foundation is based in China, while iNex (NEX) is based in Hong Kong.
New Energy Exchange is backed by investment capital from Huawei, Alibaba and Tencent founder, Xiaosong. They’re also partnered with Panda Green, a company that built a solar power plant for the UN and has plans for the construction of 100 new green energy plants, tied to the Panda Coin dApp for Elastos.
The list of Elastos partnerships is extensive. Among their partners are NEO, and made NEO’s Da Hongfei an advisory board member. Other partnerships include SAIC, one of the largest car manufacturers in China; and AVIC, a Chinese air defense company.
Regarding NEX, it appears that the partnership will forge the way for merging new energy and internet technology. Each may be looked at as an internet of value, whether that value is in the form of content, or the form of energy. In addition, Elastos may serve as a sort of middle-man in their relationships. For example, Panda Green is expected to commission NEX to build a smart power station management system, using blockchain technology, culminating in a complete industrial chain.
These are lofty plans and we can expect the best partnerships to lead to the most viable use-cases. Combining NEX with Panda Green makes sense, and if Elastos can provide a level of interconnectivity, so much the better. In the meantime, be sure to watch Elastos for any price action, especially since they are doing well in the community vote on Binance.
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