Blockchain company ‘Air Conditioning’ plans to raise $150 million in seed funding
Bitcoin, a virtual currency, is set to launch a blockchain platform that will allow for air conditioning repairs, a first for a public company in the US.
Air Conditioners and air conditioners, or ACs, are a type of home air conditioning unit that use the heat of a fan to warm rooms.
They are used by millions of Americans and are among the most common home appliances in the world.
“The blockchain technology will allow us to automate this process for anyone who wants to do it,” John A. Hensley, chief executive officer of Air Conditioning Solutions, told CNBC.
“We can have these systems that are smart enough to monitor what the temperature is, the humidity, and adjust the temperature accordingly,” he said.
Air conditioners have become more popular in recent years, as the internet and smartphones have increased the ease of access to the air conditioning system.
A study by the American Academy of Pediatrics showed that by 2020, the number of people with air conditioning installed in homes will surpass the number with air conditioner systems.
The Air Conditioners Association estimates that there are around 3 million ACs in the U.S. and Canada, though the actual number of units sold is much lower.
Air conditioning companies are trying to gain traction in the industry with blockchain technology, which could potentially make them much cheaper and faster to produce.
In addition to the $150m that the Air Conditioner Association has raised, the company plans to use the funds to expand its operations and expand into new markets.
The startup plans to launch in 2019, according to the report.
It is a big move for the company, as air conditioning is a huge market for the companies that manufacture it.
A new version of the product called the AC-Air has already been launched by a competitor, the ACAir Air.
A few other companies, like the company Air Conditionable, are currently testing their own air condition systems.