Introduction

Corrently is an entirely new product in the electricity market. Our approach is to accelerate the expansion of renewable energy generation by giving each electricity customer the possibility to do micro-investments. Instead depending on governmental funds each owner of renewable energy generation facilities can offer their wind-mill, PV-panel or water turbine to be tokenized by STROMDAO. The working mechanism is displayed in the following figure.

In a first step electricity customers pay their monthly electricity bills as usual. For each Kilowatt hour of electricity one Corrently will be issued to their account. Each customer can now decided what to do with his or her amount of Corrently´s. One option is to exchange Corrently´s for CORI Tokens by using the STROMDAO Marketplace (step 2). Within the online-marketplace customers can select renewable energy generation facilities they would like to invest their Corrently´s into. In addition to exchanging Corrently´s for CORI´s one might also chose to support one of a variety of social projects .

CORI Tokens represent a share of an energy generation portfolio (step 3). Each renewable energy generation facility has a defined amount of CORI´s that are eligible to be sold. The amount is put into the balance sheet of a smart contract which in deployed on the Ethereum based Blockchain designed by STROMDAO (Fury Network).

So what each customer is actually doing when purchasing CORI´s Tokens in exchange for Corrently Bonus points is to trigger this smart contract (address is public) and make a transfer of CORI Tokens from the smart contract address to one’s own electricity account. This electricity account in turn is represented by an address within the Fury Network.

The purchase of CORI`s therefore is an actual transfer of ownership of an asset which is the digital twin of the renewable energy generation facility! Each customer can now precisely track.

1. the amount of Kilowatt-hours produced by his energy portfolio
2. the degree of his or her energy self-sufficiency (share of electricity from the energy portfolio and the public grid)
3. the amount of shares of his or her own energy generating facility

Over time the degree of energy self-sufficiency will raise as a higher share of electricity will directly be generated by ones energy portfolio. Therefore electricity needed from the utilities will drop. In the long term electricity will not only get cheaper but also more sustainable. Each customer and CORI owner can decide which energy portfolio fits his/ her needs best. The mix of wind-mills, pv-panel, storage and water-mill shares is completely up to the customer!

In addition to an increased energy self-sufficiency the induvial energy portfolio is generating profit which is paid to CORI Token holders according to their amount (step 4.1 in figure 1).