Farad Program from Farad SPC, a company engaged in the development of ultracapacitor batteries, seeks to introduce a new virtual currency (cryptocurrency), Farad Cryptoken (FRD), to Indonesia.
As is known, there are currently dozens of virtual currency circulating in the world, one of the famous Bitcoin and Ethereum.
Wan M Hasni, Chief Executive Officer Farad Program said, in the future with the use of Internet technology is more massive, alternative virtual currency will be more widely used.
This virtual currency is considered more stable than conventional currency exchange rates that are too fluctuate to the world economy, and a broad impact to the country's economy. For example, the US dollar exchange rate.
In addition, the currency is also considered more secure because the security system blockchain, or database distribution technology in the Internet network, considered not easily penetrated by hackers or hackers.
Citing data from Lloyd's insurance company last year, Wan continued, the bank lost $ 65 billion per year due to hackers. So cryptocurrency solution becomes an option, although the regulation does not exist yet.
"There is no loss in cryptocurrency, we will introduce in Indonesia on August 31, 2017. Previously to Dubai and four cities in China," said Wan, when interviewed by a number of media in Jakarta, Tuesday (1/8/2017).
He said, in the next 10 years the use of cryptocurrency in the world will be more massive. Therefore, some countries are beginning to integrate their currency systems with cryptocurrency. As in the United Arab Emirates (Dubai) and in Singapore.
Later, Farad as a virtual currency will be the currency for the sale and purchase of energy stored in ultracapacitor batteries, as well as for investment in information technology manufacture and distribution of these batteries.
Each FRD will represent the right to the production of Ultra-Capacitor Cells (UCC) called milifarad (mF). That is, 1 RFD is equivalent to 1 mF, or about 0.125 US dollars.
Farad Cryptoken will conduct Initial Coin Offering (ICO) on August 7, 2017 until August 30, 2017 with a sales volume of 1.28 milion FRD. Setipa 100 FRD sold will be added 25 RFD so the total FRD that is distributed reaches 1.6 billion RFD.
In pre-sale (7-30 August 2017), the price of 1 FRD is equivalent to 0.0005921 ETH (Ethereum) or equivalent to 0.0000559 BTC (Bitcoin).
Battery Ultracapacitor
The development of renewable energy, as well as the utilization of electrical energy that requires a long-lasting, lightweight and rapidly rechargeable battery keeps the ultracapacitor battery into a very important technology in the future.
As an illustration, an ultracapacitor battery installed in an electric car, capable of running for 600 kilometers, is recharged with ordinary electrical outlets of less than 10 minutes, light and very thin.
Not only for cars, ultracapacitor technology is also used to store energy from solar panels, so it can be used in housing and energy can be stored long in the form of batteries. Also for mobile phone battery, powerbank and so on.
Farad Program estimates the ultracapacitor market share will reach 8 billion US dollars in 2024 and will rise to 9.88 billion US dollars in 2025. The energy segment itself grows about 20 percent per year from 2016-2024.
The global energy battery market is expected to reach 6 GW in 2017 and reach 40 GW in 2022, from just 0.34 GW by the end of 2013.
"From the ultracapacitor market in the world, Farad Program estimates it will get 10 percent market share," Wan continued.
For ultracapacitor batteries, Farad Program next year will release its products along with three top smartphone manufacturers. In addition, for cars, two top Chinese automakers also soon released their products with Farad.