What is it?

SunContract (SNC) is a blockchain-centered company with the objective of decentralizing the energy industry through the establishment of an open energy marketplace that directly links individuals, removing middlemen, and enabling peer-to-peer electricity trading. The SunContract platform offers customers the capability to conduct payments for their electricity and self-sufficiency energy products using either SNC tokens or Euros.

What is used for?

The SNC token serves as a globally recognized, digitally tradable digital asset primarily intended for facilitating the buying and selling of electricity and energy-related products within the SunContract ecosystem. Users on the SunContract platform have the flexibility to make payments for their electricity and energy self-sufficiency items using either SNC tokens or Euros. While some energy customers may opt for Euros as their preferred payment method, all transactions occurring on the platform are seamlessly settled through SunContract's real-time currency conversion technology, effectively converting them into SNC tokens. The SNC token generates value for all stakeholders through various means, functioning as an innovative Ethereum-based payment solution that streamlines direct electricity trading between electricity producers and consumers.

Who created it?

SunContract, developed by the SunContract Foundation, a Slovenia-based organization, was founded in 2016 by Gregor Novak, who serves as a co-founder and president, and Mojca Bajec, who holds the position of co-founder and CFO.