Energy LedgerELX
$0.0000489
Market/Exchange
ELX Price Prediction and Price Movement
ELX has been down 99.69 percent over the last three months, and with its small market capitalization, it is very likely that such price movement may continue. However three months is still considered early in the crypto world and it is also likely that ELX's price may bounce back if it has a solid team and has delivered what they promised on their white papers. Therefore traders should be careful and should research thoroughly and see if ELX is backed by a solid development team and whether ELX's technology has any potential to grow.
Please note that this analysis is purely base on ELX's historic price actions and is by no means financial advice. Traders should always do their own research and be extra careful while investing in cryptocurrencies.
Energy Ledger Price Chart
About Energy Ledger
Energy Ledger Inc. seeks to make ELX the standard software development platform for energy value trade on the blockchain. The goal and intent of creating this generalized crypto-commodity is to (i) create a cryptocurrency that can be utilized by the energy industry to manage oil containers, and (ii) to incentivize the long term storage of crude oil through investment in the ecosystem. The idea for ELX was originally conceptualized in 2018 by founder and CEO of Energy Ledger Inc., William G. Pete, who identified the potential for Crude Oil markets to fall into contango or backwardation due to the lack of a computer system such as blockchain being developed to manage and understand the scarcity of storage for crude oil. As of April 2020, oil indexes such as WTI briefly fell negative because of contango patterns “Oil prices have been trading in a pattern known as contango this year, where spot prices and near-term futures are worth less than futures expiring several months from now” (Salzman, A., 2020) and “But suddenly this week, the super contango pattern shifted into a pattern called backwardation, if only briefly. Backwardation means oil today is worth more than oil in the future.” (Salzman, A., 2020). With this issue coming to fruition, Energy Ledger was formed to prove the concept and eventual execution of a deployed blockchain solution for crude oil storage units. Smart contract process characteristics portend potential business process continuous improvement for supply chain processes. The potential for supply chain business process improvements can be situated in blockchain information that may capture performance metrics in ledgers; linking them to agree upon processes (S. Saberi, M. Kouhizadeh, J. Sarkis & L. Shen., 2019).
The robust ecosystem available for smart contract development within the Ethereum Solidity Ecosystem, and IBM Hyperledger platforms became the catalyst for the development of Energy Ledger’s proposed solutions: i.) A public blockchain on Ethereum for developers to launch open source energy software utilizing the ELX token, ii.) A business, Energy Ledger Inc., whom will act as a consultancy firm for private enterprise blockchains, iii.) Development of tamper proof IoT flow meters & liquid level sensors for containers.
The company that issues the ELX Token is ERG Foundation Limited in Mauritius
The consulting arm of the company is Energy Ledger Inc.