FRED Energy - ICO Review

FRED stands for Funding Research into Energy Devices; it is a UK-based blockchain project that focuses its operations around the idea of incorporating blockchain and cryptocurrencies into several environmental initiatives related to the promotion of green energy and related physical products.

Company information and technical specifications

The company emerged in 2018; by that time, the team had already created a proprietary blockchain, on the foundation of the Ethereum one, which was powered by a mineable cryptocurrency. Although a year later, they decided to make a switch to the Stellar blockchain that has a number of advantages over Ethereum, most notably a significantly less energy-consuming consensus mechanism, far better scalability, and transaction speed. In addition, Stellar smart contracts are more protected and comprehensible.

Along with technological adjustments, FRED had also initiated a token swap where the old ERC-20 FREDEnergy coins were exchanged for the FRED Energy tokens (FRED) of the Stellar standard. A total of 48,4 million FRED tokens, out of the total supply of 808 million, are to emerge as the result of the swap, whereas 460,5 million will be distributed during the sale.

FRED’s primary goals

The FRED Project has two overarching goals: to become the best-regarded company for promoting the use of green energy; to launch a blockchain-enabled marketplace for alternative energy and physical products that has the FRED token as its lifeblood.

The team has already rolled out a demo version of the marketplace, which features a number of energy-saving products provided by the partners, such as LED bulbs, EV chargers, solar panels, and electric tuk-tuks (three-wheeled vehicles commonly used as cabs). The merchandise of FRED's own production is promised to be added at the later stages of project development. Another purpose of the marketplace is to facilitate the adoption of cryptocurrencies, the FRED token in particular, by implementing them as the primary means of payment and allocation of consumer rewards. According to the projections, in four years' time, the net return generated by the marketplace would amount to $590 thousand, which constitutes a 2007% growth, compared with that of the first year.

The project is also working on the further development of the prototype device that serves as a portable generator and storage of electricity from solar energy. It can be used during different outdoor activities as well as an emergency power bank. The gadget is already functional, though FRED requires additional funding to finalize the exterior design, run the necessary testing, and organize a marketing campaign. Some extra funding would also be required for further research of the off-grid devices.

The FRED team

• Michael Josefsen. Founder & CEO. Holds a bachelor's degree in business information systems; worked as an engineer at HP Enterprise and a freelance business consultant.
• Philippe Delvinge. Creative Director & Community Manager. A certified graphic designer, former creative director at FiliGrif Studio.
• Armand Pers. IT director. Former IT manager at IEGS Sodermalm and co-founder of Rentapp.io.

The ICO details

The FRED Project conducts the token sale of two launchpads, the first one being their own platform - the second one is the Finexbox. The one that takes place on the FRED platform is now live, with Round 1 ending on January 30. The overall token sale will end on May 29. The current price of 1 FRED is $0.005, with the minimum investment threshold being only $5. The softcap is $120,000, which is more than feasible, whereas hardcap is $2,3 million. Tokens can be purchased with BTC, ETH, LTC, XLM, TRX, XRP, BCH, BNB, and DASH. The list of restricted areas features the United States, China, and North Korea.

Author: Alex Paulson for Crypto-Rating.com

• Bringing new energy products to market. Many of the world’s greatest inventions have been made by people who had little scientific expertise but developed their inventions through trial and error. Today, there are engineers, scientists and hobbyist inventors developing technologies that will one day change the way we generate, consume and store energy. The greatest problem many of them face is the lack of resources or funds to fully realise their inventions and get them to market.
• FRED Energy Marketplace. We believe diversification will be the key to our success, our shop.fredenergy.org website will be a marketplace for all thing’s alternative energy. Initially featuring our partners products, it will eventually include home and commercial EV chargers, solar panel systems, electric and solar tuk-tuks, consumer wind turbines and other related gadgets with payment options to include FRED Energy tokens and other cryptocurrencies along-side traditional methods
• Project Accelerate. Across Asia, Tuk-Tuk’s are a popular method of transport but suffer from fuel efficiency and contribute to the local air pollution. Our objective is to partner with electric and solar Tuk-Tuk suppliers and purchase a number of vehicles to create brand and project exposure. Each vehicle will bear the FRED Energy logo and will target Tuk-Tuk taxi drivers located in city and tourist areas in Asia, namely Thailand, Vietnam and China and will set the stage for future project Energise
• Project Energise. Project Energise will focus on Electric Vehicle (EV) charging stations. The EV charging station market is currently emerging across the world and while the large corporates invest in main infrastructures, there is a need for smaller independants to fulfill niche segments. Should we be successful in raising our SoftCap, we will aim to implement EV charging stations to meet a growing demand of consumer needs now and for the future. The global electric vehicle infrastructure market is forecast to be worth $63 billion by 2025 and FRED Energy is looking to be part of this new ecosystem