It has been an eventful week for those who have been following the WePower project. With a revolutionary new blockchain-based model for green energy production, formal backing from the Lithuanian government, and a string of partnerships including one with StartupBootCamp, from the beginning the WePower proposition ranked as one of the most promising blockchain start-ups around.
However, completing its ICO sale in early February in the midst of the most bearish market conditions that the crypto phenomenon has yet known, the WPR token dipped almost 40% from its ICO sale price.
There then came what appeared to be an unduly harsh – and somewhat bizarre – rebuttal from Binance later in the same month, leaving the project stuttering in what are still the embryonic stages of its longer-term ambition to become the world’s leading green energy provider.
WePower, on the other hand, comes across as a project of a different calibre. There were no complaints about Binance’s behaviour; project representatives on the team’s Telegram channel reminded its followers there was no need to panic, that its business model is a long-term proposition, and that these so-called set-backs were irrelevant to the overall picture.
However, less than one month after the Binance controversies, there came an announcement from Binance itself that it was finally listing WePower on the world’s leading crypto-currency exchange. Whether this was the result of a commercial arrangement or simply a mea-culpa on the part of Binance isn’t clear. What was clear, however, was the message that this sent out: WePower will not be denied the visibility that is its due.
That visibility has now taken on a whole other level, however, after a formal announcement from the WePower team that Peter Diamandis will now be joining the WePower Advisory Board.
Diamandis has a few strings to his bow. He is a New York Times best-selling author who also leads up the X Prize Foundation and who was listed by Fortune Magazine in 2014 as one of the “World’s Fifty Greatest Leaders.” A high-profile project, it seems, just climbed higher again in the profile stakes.
“The Diamandis announcement takes WePower into fascinating new territory,” stated one WePower investor. “When you look at the individuals who sit inside Diamandis’ circle – Elon Musk, Larry Page [co-founder of Google] and Ariana Huffington and others – you begin to understand the possible implications here.”
Diamandis is perhaps known above all for his involvement with projects that incorporate the latest cutting-edge technological innovations, and for that alone will likely make for a very good fit to the WePower advisory board. His interest for innovation ranges from racing rockets to “backing up the biosphere”, the latter a passion he shares with close friend Elon Musk, even if the two diverge in terms of the best approach to take.
The Musk / Diamandis Eco-Axis
Space flight, of course, is not the only passion that the two friends share. The other is green energy; this is why the WePower project may just have positioned itself as the most promising blockchain-based green energy start-up amongst its swarm of contenders.
With a friendship going back almost two decades, the two men have had plenty of time to elaborate on their ideas. They both express a concern that, whilst the benefits of a digital world – “dematerialisation, demonetisation and democratisation” – cannot be faulted, the knock-on effects will be an exponential growth in demand in energy.
It is time, then, to look for new models of both energy production and consumption that are both efficient and sustainable. That will likely explain Diamandis’ interest in the WePower project. The question now whetting the lips of every WePower follower is whether that interest will overlap with Musk’s own green energy concerns.
Musk’s Solarcity venture, a subsidiary of Tesla, manufactures solar energy panels; WePower is an energy distributor. Whether or not such a Musk-WePower partnership should emerge, the case remains that the Diamandis dimension now raises the prospects of success for the WePower venture which, little over a year ago, was nothing more than a mere concept.