Malachite Mews begins use of the XCF token.

November 25, 2020

Cenfura has integrated the Malachite Mews microgrid facility into the Cenfura platform token ecosystem. This means that all settlements that take place for the electricity produced are completed with XCF tokens.

When Cenfura’s assets buy and sell products and services, automatic smart contracts do the heavy lifting.  These smart contracts work in the following way: when an asset produces energy, a smart contract kicks in and calculates the sell price of the energy in local fiat currency, and this price is then converted into XCF tokens at the current market exchange value. 

Tokens are introduced into the ecosystem when the buyer purchases energy using XCF tokens and the asset has their share of tokens deposited into their account. These tokens can then be sold back into the market for fiat currency, leaving the ecosystem, or the tokens can be held in reserve.  Again, all assets in the Cenfura ecosystem will use XCF tokens.

This supports the true meaning of a utility token – a token that provides prepayment for a good or service.

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Cenfura has its XCF utility tokens for the following reasons:

  • To have a proprietary medium of value exchange allows for a more orderly and autonomous transactional economy between platform participants and by extension the surrounding ecosystem.  This includes using smart contracts to lock in future goods and services, creating ecosystem-specific incentives and rewards, granting rights to purchase energy, and the ability to moderate unbalanced market behaviors in our ecosystem, to name a few.  
  • It helps create a specific economy around the Cenfura token and platform, enabling Cenfura to work with both government and non-government entities to implement community-based inclusion initiatives, including energy poverty, energy surety, and small business development programs using the XCF token.  This is especially important to the otherwise unbankable in societies across the world.
  • Since buying and holding Cenfura’s tokens represents prepayment of future goods and services, this creates additional working capital enabling Cenfura to grow faster and pursue its vision of accelerating the adoption of clean and locally generated renewable energy across the globe.

The Malachite Mews facility is the first in a long pipeline of new Cenfura projects that will be integrated into the Cenfura platform, with several more microgrids in South Africa expected to be online in the near future.

About Cenfura

Cenfura is a smart energy services company that owns and operates renewable energy assets across the globe, integrating a sophisticated combination of leading-edge technologies, economic systems, and a distributed infrastructure. This combination is referred to as the Cenfura Platform and the gateway to its functions is the Cenfura Token, which uses the ticker symbol XCF and is openly available on liquid.com.