It is a well-known fact that conventional resources of energy or rather to say non -renewable energy resources are limited in quantity. They emit a lot of harmful gasses which is depleting the ozone layer as well as melting the ice caps. Humans are also directly impacted by the pollutions that they emit through burning of coals and fuels. But, power and electricity are day to day necessity which must be produced. So, the only viable solution that is left behind is switching to renewable energy resources to generate power and electricity. There are many options to be explored like hydro power, wind power and solar power. They are green energy resources which must be smartly managed and controlled. Bittwatt is the first company to take this matter seriously and offer a smart solution to consumers in the field of power and electricity by using blockchain technology.
Introducing Bitwatt
Bittwatt is a block chain enabled platform that has a vision of creating smart consumers in a sustainable energy system with minimal costs for all parties. It has a mission to create the first international platform to integrate and facilitate cooperation between all market operators for the benefit of consumer. It aims to create a blockchain enabled energy market that is simple, transparent and delivers more value to users. It also aims to expand globally (London, Bucharest and Singapore being already under development). The way electricity systems operate now, will be completely over hauled by building a smart, flexible systems that makes the most of all energy resources which are financially efficient and robust. This ecosystem will incentivise producers and open up competition on a level playground. Irrespective of the size, this platform will be accessible to everyone in the industry. The framework has been designed in such a manner that it will empower users (producers, suppliers and traders) in applying balancing process and will require very little intervention from Bittwatt as a system operator.
Current Problems
The landscape of global energy requirements is changing gradually. Fast growing emerging markets have started to over take traditional ones and all this is shifting the world energy mix. The energy industry is finding it hard to adapt to meet the demand for sustainable power. It has become even more difficult for natural gas and infrastructure and supply to assure its further development. Moreover, it is quite challenging to expand the role of bio mass in household heating. Also, cogeneration and modernization of CHP production facilities is yet another daunting and uphill task. Lastly, the energy industry is clueless regarding increasing the energy efficiency and simultaneously countering the energy poverty.
Solution
It will decentralize energy exchanges between traders and suppliers which will consequently reduce the validation and completion period. It will create a market for smart consumers where they can transact unused energy supplies and switch suppliers based on pre-selected criteria. It will remove all the current latency period for reporting of electricity consumption so that unbalances ca corrected on real time basis. It will open up a system that will facilitate multi- party transfer. End consumers would not be required to wait for 15 days of time to change their energy suppliers. It will be done dynamically on demand. By incorporating all these subtle changes, energy prices will automatically come down.
Token Details
Bittwaatt token is called as BWT and it operates on Ethereum ERC-20 platform. There will be a total token supply of 400,000,000 BWT. One BWT token represents a transferable token which is equal to 1 kWh. The price of each token is 1 ETH = 3383 BWT. Token sale will start on 1st April 2018 and end on 8th June 2018. Soft cap value is equivalent to $ 25,300,000 and the hard cap value is $ 30,400,000 The minimum private sale contribution is equal to $ 10,000. All the unsold tokens will be burned. There will be an initial supply of 38.6 million tokens.
Conclusion
A platform which is determined to bring a revolution in the energy sector by implementing the strategies which the conventional energy industry lack. It is going to be a disruptor in the entire globe and hit the market with a success. Consumers will have all the facilities and services delivered to them which will create value for them. It will eradicate all the existing deep- rooted flaws in the existing system and carry a new way forward for the rest of the world. Therefore, the investors can invest with a lot of hope and huge returns as this is something which the world has never seen and experienced. It is a history in the making. Go and be a part of it.
For token sale visit https://bittwatt.com/
Bountyhive User Name: ollivander
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