Federal Reserve Chair Jerome Powell addressed disinflation during the February 1 FOMC Press Conference. This, coupled with a February Labor Market Report that shows 517,000 new jobs created and a 3.4% unemployment rate, led to an immediate rally in the stock and cryptocurrency markets. And although many felt the slight pullback over the weekend, many sources expect crypto to continue rallying — if not surge — into the new year.
As such, new tokens will arise with 9,314 active cryptocurrencies on the market and upward of 300 million cryptocurrency users across the globe. This means that finding the right coin could mean massive profits when entering a bull market, especially when that coin serves a purpose and is backed by a utility that shows promise.
Takyon ($TY) is a new energy token that simplifies the payment process and makes charging an electric vehicle a more enjoyable experience. With a total supply of 777,000,000 coins and only 277,000,000 in actual circulation, it’s also set to become a Top 50 token and potential fan favorite of many within the crypto community.
It provides practical incentives as a digital asset and sub-currency mechanism that can weave seamlessly into modern-day society and address global warming. Its implementation opens new possibilities for elective vehicle supply equipment (EVSE) that can unlock energy incentives for network participants.
And best of all — there’s absolutely no mining involved. It’s 100% green.
Vocal met with Takyon to discuss this new coin and what it means to the future of green energy, and the environmental impact of cryptocurrency as a whole.
The CEO of AI Energy Solution Corp (AIES) is the newest unnamed CEO of crypto and the mastermind behind a number of clean energy solutions, including a patented EV charging technology that will soon hit the United States and Canada.
He’s a strong proponent of the blockchain industry and believes it is well overdue for an era of fresh, clean energy — both figuratively and literally speaking. He feels a sense of duty to future generations and is doing everything he can to restore our environment, one solution at a time.
While he’s choosing to stay anonymous for now, his identity will be revealed in the near future.
The expert and visionary behind this smart contract technology implementation is Stanford Saler, AIES chief digital officer and a long-time advocate of practicality for environmentally focused sustainable energy technologies.
He provided Vocal with added insight into each and every aspect of Takyon’s orchestration, including the unique construction of its decentralized app (dApp) and how it combines the features of specialized Ethereum ($ETH) protocols conducive to EV charging utility.
They, and all other key stakeholders, foresee Takyon as a pioneering asset providing a valuable foundation for achieving global climate positivity. With first-rate expertise in dApp, data security architecture and mobile app development, the engineering team is geared to deliver the simplest and most engaging blockchain experience to EV drivers around the world.
Takyon — with a “K.”
“Tachyon energy is a particle wave or energy that travels faster than the speed of light,” states AIES’s CEO, pointing out that Takyon was spelled with a “k” intentionally. “ Light speed travels at almost 990 million feet per second,” he continues. “That gives you a reference on how much more powerful Tachyon is as an energy source and even more pure than light. Powerful energy, clean energy to help the environment and everyone that needs this energy to survive!”
Takyon was made possible thanks to the Polygon ($MATIC) smart contract technology that is allowing them to streamline mobile payments services through simple, engaging crypto experiences, while actively reducing greenhouse gas (GHG) emissions in communities around the world.
Takyon aims to simplify crypto.
Built on a decentralized-yet-scalable financial framework with the ability to host sub-currencies, this particular dApp can track and incentivize the utility of a particular vendor’s grid-connected and grid-independent charging stations. It also allows these vendors to design exclusive loyalty programs for EV drivers who frequent their units while offering competitive price-per-kilowatt-hour (kWh) charging rates — whether by day, month or usage activities.
By way of permit extensions, electric vehicle drivers may also subscribe to exclusive programming just by adopting the vendor’s EV charging network — further authorizing any inclusive charging station to send Takyon from their registered address to the vendor’s address directly in the app.
“Takyon was built on the Polygon blockchain, providing a unique token as an EV charging utility,” states Saler.
“Back in 2017,” he continues, “Ethereum was the first major mover in smart contract technology, introducing a general-purpose blockchain with a proof-of-work consensus mechanism. But, unfortunately, it’s still yet to achieve adequate scalability.”
He explains that Ethereum is now on proof of stake. However, there’s a long way to go before it can actually lower transaction fees in addition to the number of transactions that can be processed in any given block.
“This is why we chose to deploy on Polygon,” discloses Saler. “Polygon is a proof-of-stake blockchain. It runs in parallel — technically independent of Ethereum, as a layer-2 / sidechain — to Ethereum. Takyon was deployed with a very particular ERC standard. All protocols that are authored, or developed, are first known as Ethereum Improvement Proposal (EIP). And when these proposals are accepted, audited, confirmed and validated, they become Ethereum Requests for Comment (ERCs), at which point they are credible for anybody to use them.”
“This one,” he explains, “is brand new to the smart contract technology industry. It’s called ERC-2612. Few, if any, have brought this particular protocol into deployment. Certainly not any EV charging infrastructure companies.”
As a side note, the ERC-2612 is a permit extension for EIP-20 signed approvals, which makes it extra secure.
These deployments adhere to what’s known as the templated code of these standards, but Takyon is the only one that adheres to the most popular ERC-20 standard while incorporating the ERC-2612.
This brings up the topic of permission extensions.
According to Saler, permission extensions will allow the AI Energy Solution Corp. to provide the simplest cryptocurrency payment infrastructure for EV drivers who will only need to have Takyon in their Polygon-based wallet to pay.
He explains, “Any other token deployed on Ethereum, on Polygon or any other blockchain currently requires that particular blockchain’s native coin be included in one’s holding address in order to transact. With Ethereum, it’s Ether — with Polygon, it’s Matic.”
He further states, “With our implementation, the EV drivers who would like to experience smart contract technology — and also save money in doing so — will only need Takyon in their wallet. Otherwise, there’s an account that allows them to pay [however they’d prefer to pay]. The AI Energy Solution Corp. will actually host the Matic necessary for those transactions.”
He compares the high gas fees associated with Ethereum transactions to the very fractional cost of using Polygon for a similar transaction. He believes that it will not only helps vendors simplify transactions but it will also allow drivers to save money along the way.
As it is now, some vendors are paying processing fees as high as 3% on every transaction made with a credit card. When a transaction fee is closer to one cent — no matter how large the transaction is — it’s a no-brainer why anyone would want to adopt this technology.
User-centric permissions, specialized mapping structures and forensic security considerations from this enhanced Ethereum improvement protocol in Takyon’s dApps will allow variations of exclusive MATICless payment options — options that EV drivers can select to weave into daily routines.
Financial blockchain engineering provides the network with secure balance-recycling mechanisms as well as accuracy and transparency in global kilowatt-hour charging rates, which could bring real measurable energy savings to users worldwide.
And let’s not forget, it’s been built and hosted on the environmentally conscious and green-pledged Ethereum Virtual Machine-compatible blockchain, Polygon.
Adopting Takyon could very well lead vendors to a whole new market of domestic and international customers while allowing them to mitigate the risk of falling victim to financial system security breaches and create extraordinary customer experiences for the end-user.
A Common Issue Faced at EV Charging Stations
The CEO shared a common issue faced by EV drivers, especially in Canada, as it relates to the existing payment mechanisms in place today.
The first problem is that they can’t just plug up and pay for their fuel. Instead, they have to download a geo-locational app based on the exact charging station that they happen to be using. Then, they have to guess the amount of money it will cost to fuel up their vehicle. This may mean paying $100 only to realize you would only be charged $30 to fuel. And often, leftover cash is left abandoned because they’ll never visit that station again.
Sure, they could probably call customer service and ask for a refund — but, at the end of the day, this isn’t convenient, especially if it’s necessary to do it all the time. And what if they didn’t have Wi-Fi or a data connection? Does this mean they wouldn’t be able to charge their vehicles at all?
“With our process, it will be much easier to charge an electric vehicle — because you won’t have to go through all of these steps. You won’t have to download different applications for every single charge station you encounter — and there are plenty of them. The Takyon will bypass all these credit card restrictions,” explains AIES’s CEO when explaining how Takyon will improve the charging experience.
Takyon will be integrated into one app (currently in development for Android and iOS) for all stations and multiple locations. Any money left in the account will likely grow between charges. But it can easily be moved out of a wallet and “cashed in” for whichever currency is preferred.
“This is a kind of social equalizer,” states the CEO, ”A lot of people I know, several people, do not have the credit score to qualify for a credit card,” citing further issues drivers face at the charge station.
On the crypto front, Takyon provides an impetus to solve yet another issue.
With other wallets like Binance and Trust Wallet, users often experience situations where their crypto seems to disappear and then reappear. The user starts to panic and wonder where their coins went, frantically refreshing their screens until all balances can be seen simultaneously. AIES aims to correct this problem, providing accurate balances to their customers each and every time.
There’s even a possibility where EV charging stations can provide the required technical update to the EV driver’s mobile app for successful transaction generation when their iPhone is struggling with cellular connectivity.
“Customer satisfaction is the very top priority for us,” states the CEO, on how his team believes in a quality user experience, ease of use and operability.
Takyon can be used for more than just EV charge stations.
Precedence Research suggests that the electric vehicle charging industry will reach upward of $221 billion by 2030. It’s also set to grow at a compound annual rate (CAGR) of 30% from the modest $19.5 billion it achieved in 2021.
The firm, however, hasn’t factored in the possibilities that come with smart contract technologies and the current or future state of the global EV charging infrastructure. It also overlooks the potential of HFC-powered EV charging technologies, leaving opportunities from such innovation like crumbs on the table.
Should gas stations adopt Takyon as an accepted form of payment, AIES’s CEO points out, they will significantly lower their processing fees while implementing a technology that allows them to operate just a little bit greener. They may even be able to reduce the cost of gasoline by the gallon because they’re bypassing the fees that credit cards are charging the gas station owner.
As for safety and security, Takyon transactions are much more secure than that of a credit card. In fact, when using an RFID or physical credit card to pay for gas and items at the grocery store, it’s easy for someone to use a device that steals and captures all of your credit card information. This simply cannot happen with Takyon.
In addition to fueling and point-of-sale transactions, AI Energy Solution Corp. is currently exploring ways to make energy payments available through local electric and utility companies. The company is already working on pairing itself with a grid-detached energy solution. More details will be announced sometime in the future.
The larger the infrastructure, the greater the savings.
As the infrastructure grows, the price of energy consumption falls, decreasing the overall cost of energy to recharge.
Because the flow of currency is always in motion, energy costs will likely continue to decrease over time. Not only would the value of Takyon go up, but the supply would remain finite, as only so many tokens will ever be in circulation.
As energy usage increases and the infrastructure grows, companies will likely charge less per kWh, passing on the savings to the EV driver while competitively pricing operability. Vendors will essentially control their own fees so that everyone ends up winning.
“It’s a rather future-proof foundation that we are creating and that we have employed. The entire supply of Takyon has already been minted. It’s not mined,” explains Saler.
“There’s no consensus necessary. It is simply decentralized, or in other words, a decentrally-hosted application that operates on the Polygon blockchain. And because of that,” he continues, “a finite supply — and a relatively low circulating supply — means that the more EV drivers who participate in the EV charging networks and adopt Takyon, the lower the price will be per kilowatt hour.”
Essentially, $100 worth of Takyon one day could be worth $120 tomorrow through demand. The energy cost does not go up, so it would cost less than the day before. Its value is based on the number of shared participants and transactions in the network.
Through financial blockchain engineering, a subsystem accounts for the increase of drivers who pay with Takyon and decreases the participant cost per kilowatt hour that it charges accordingly.
Unlike fossil fuels, this model actually works with inflation. Demand would also lead vendors to lower their cost per kilowatt hour. As the network grows, there will be more incentives for them to do so. With more charge points in one area, more energy will be available in a shorter locale.
On Changing the World: Takyon will continue to fuel innovation.
Takyon makes innovation possible. In fact, only 36% of Takyon was meant for circulation. The remaining funds go into the research and development of cutting-edge technologies in clean energy generation and hydrogen fuel cell science.
Instead of having a speculative angle, Takyon further raises money for clean and affordable energy projects — especially in areas of the world where there’s no electricity at all.
What’s in Takyon’s whitepaper?
According to its whitepaper, Takyon is an effective solution for contributing to decarbonization and reversing climate change.
“A practical implementation consisting of multiple components and stages with a keen focus on simplicity to lead the next era of decentrally hosted application (dApp) innovation. Electric vehicle charging infrastructure companies, such as ElectrifyAmerica (NASDAQ: EVGO), ChargePoint (NYSE: CHPT), Tesla (NASDAQ: TSLA), and Terravis Energy (NASDAQ: WKSP), to name a few, specialize in grid-connected and grid-independent electric vehicle charging solutions to address a major cause of the aforementioned problem.
One of the most effective ways to address global warming would be configuring these tangible systems with practical incentive sub-currency-2 mechanisms that can seamlessly weave into populations’ lifestyles for ultimate adaptation. The evolution of blockchain, since 2017, has presented smart contract technology and introduced the notion of web3. These progressions have resulted in logical technologies that can securely and efficiently facilitate fundamental capitalist utility to help achieve the globally desired reality.”
Tokenomics (Token Economics)
The following figures were included in the AI Energy Solution Corp.’s whitepaper on Takyon. Cryptocurrencies with a limited supply tend to experience an increase in value with demand as the available supply becomes scarce to the average trader.
- Max supply: 777,000,000 TY
- Total Supply: 777,000,000 TY
- Circulating Supply: 277,000,000 TY (35.6% Max Supply)
The company also notes that some coins have been distributed to both its sponsors and key stakeholders, as well as holders of another environmentally conscious cryptocurrency-based project. It explains that Takyon is continually supported with trading markets on numerous cryptocurrency exchanges globally to help drive the reduction of GHG emissions, as well as to fund research for furthering hydrogen fuel cell science.
While Takyon was created as an EV charging utility, it can be bought, sold and traded on the open market.
Where can you get your hands on some Takyon?
Naturally, people will want to know how they can purchase the coin and invest right away — where and how can they invest?
Currently, in discussion with a number of top-ranked cryptocurrency exchanges set to list Takyon on their platforms, traders will be happy to find that the token has been listed and actively trades on LATOKEN. While it is not currently available on Coinbase (NASDAQ: COIN) or Crypto.com, Takyon can be added to a watchlist and traded once it’s listed and available to the masses. The coin can also be followed on CoinMarketCap and is currently at the center of a Takyon trading competition.
Leveraging Takyon’s payment capabilities for EV charge stations, a leading company is already adding support for it in an app associated with its brand of charging units. The app will act as a crypto wallet of sorts — enabling Takyon to be used at the point of sale when charging an electric vehicle.
The company isn’t at liberty to disclose the companies they are partnering with at this time.
The power is in your private key.
Takyon is provided by the AI Energy Solution Corp, a new type of Fintech startup that whole-heartedly believes that AI, in conjunction with Takyon, will expedite the adoption of clean, renewable energy solutions as the world makes its transition to a more sustainable energy future. It also believes this power, the necessary research and development of game-changing technologies can commence and that the future of decarbonization is yet to be discovered.
Robust, secure and surprisingly scalable, the combination of AI and Takyon can improve North American and, ultimately, global electrification by:
- Optimizing renewable energy integration
- Managing energy consumption and distribution
- Predicting and preventing power outages
- Eliminating the control of hard grids hacked by third-parties
- Establishing a grid-independent future
In fact, the company has a plan to give back globally:
“We at AIES aim to address issues caused by the current electrical grid by providing affordable, accessible energy to every household, business, and vehicle. By providing access to a clean, valuable version of this resource, we may not only alleviate poverty but also improve standards of living while positively impacting climates and economies.
In some regions, electricity is readily available, while in others, it is scarce or non-existent. Globally, over 1.2 billion people lack access to electricity. Additionally, even in developed countries, power outages caused by inadequate grid infrastructure or natural disasters are not uncommon. AI-powered and Takyon-driven solutions can play significant roles in addressing these issues, helping to improve energy accessibility and reliability for people around the world.
Marginalized communities deserve the same opportunities and basic necessities as the rest of us. By supporting projects that bring electricity to remote areas, we can empower these communities and improve their quality of life. We will work together to bridge the gap and ensure that no one is left in the dark.”
According to Mark Yusko, founder and CEO of Morgan Creek Capital Management, the forthcoming ‘Crypto Summer’ will likely begin in Q2 2023. And thanks to the Inflation Reduction Act of 2022, EV charging stations are being installed all across the United States. It’s also said that approximately 18,000 businesses are currently accepting crypto as a form of payment, with the list of vendors rapidly growing.
A Bit of Insight on the Markets
As of today, the total global cryptocurrency market cap today is valued at $1.11 trillion. The global cryptocurrency market is predicted to grow at a robust CAGR of 31.3%. The global cryptocurrency market is forecasted at $46.2B by 2032, from $2.3B in 2021.
The global cryptocurrency payment apps market is expected to reach USD 2.15 billion by 2030, growing at a CAGR of 16.6% from 2022 to 2030, according to this study.
The global renewable energy market is valued at USD 910.5 billion in 2021 and is projected to reach a value of USD 1510.2 billion by 2028 at a CAGR of 8.8% over the forecast period. Wind, hydropower, solar, geothermal, and biofuel are just some renewable energy options available. However, according to several estimates, only 7% of the world’s energy consumption is met by renewables.
According to Deloitte, “Long-sizzling interest in green hydrogen ignited with the IRA’s enactment in August 2022. The law’s $3 per kilogram tax credit for eligible “clean” hydrogen could make it price-competitive with higher carbon “gray” hydrogen in much of the country. “
What do you think this means for the future of crypto? Feel free to comment below!
While the author of this article is not a financial advisor and does not pretend to give sound financial advice, one may see an opportunity in doing their due diligence when it comes to this dApp. A journalistic approach has been taken to dilute fact from fiction while deep-diving into the fundamental value of what this coin could potentially become. Depending on the reader, it may come across as overly optimistic, given its newly emerging nature as a cryptocurrency backed by a never-before-tokenized utility. As with any exchange or investment, one should do their homework before taking the next steps.
As a disclaimer, the author of this article holds stock and crypto in one or more of the above companies. Much of the information above has been provided via interview, the corporate site and the company’s whitepaper.
About the Creator
Jessica N. Abraham is a writer, designer and publicist with a background in public relations, social branding and digital marketing strategies. She specializes in Business, Technology and Career Development.