Bittwatt coin- newest trending cryptocurrency in 2018

It's been very evident that the energy landscape is going through a drastic systematic change. Due to an increase in population, the demand for the energy has been drastically escalated. The traditional system has taken a backseat, this gap is now filled with the all the advanced technology & all the advanced ways to the environment are raising environmental concerns are shifting the world's energy mix. Now we are in desperate need of the energy, especially sustainable energy. Therefore, the energy industry must adapt in order to fulfill our needs.

Earlier we witnessed that the traditional pillars of energy like coal-based power sector or onshore oil & gas field where dominating. But, now we can detect a major shift from traditional pillar to companies adapting to the renewable energy source like hydropower and another form of energy.

By 2040, our need for the electricity will elevate to 45% that is total 34 trillion Kwh.

The five major problems which we will face are

• There will be a drastic disturbance in the energy mix and maintain as well balancing it would be a great task.

• Assurance of the further development of natural gas & infrastructure.

• Explanation of the role of biomass in every house.

• Going hand to hand with increasing of energy & countering energy poverty.

• The high energy of cogeneration & modernization of Combined Heat and Power producers for centralized heating production facilities.

Bittwatt is a platform where one can trade the electricity using the blockchain. It's a combination of electricity trading with blockchain.

What problem can be solved by Bittwatt?

• It takes multiple of days for energy exchange between a trader and supplier as earlier there wasn't any decentralized market which can make the process fast & rapid.

• There isn't any market for the smart consumer from where they can
  (i) Transact the unused energy supplies
  (ii) Can switch or select their suppliers based on the pre-selected criteria.

• End consumer are those who are in the domestic area have to wait for 15 days for the exchange of the electricity, and at some places to bureaucratic reason, it takes at least 90 days.

The main aim of the Bittwatt is to trade the electricity efficiently with the help of blockchain & the market should be transparent, the cost should be low too for trading.

How does it work?

Bittwatt acts as a mediator between the suppliers & the consumers. Bittwatt provides them a platform to trade their energy with those who are seeking for those energies. The platform wants the process take in a transparent manner & take low cost, so there's a smart contract which runs on the individuality defined rules. The flow of the electricity is automatically coded into the blockchain & algorithm matches the seeking buyers with the trading suppliers.
The platform keeps a record of how much energy has been supplied, at what time they supplies, these all deviations can be obtained from the smart meter reading from consumers & producers.

Token

The token designed for the platform is BWT token which is made up of ERC20 the coin can be used across the entire platform. The token will have 18 digits after the decimal point & will have a ticker symbol of BWT.
A 1(BWT) token will represent the transfer of 1Kwh of electricity.

The token lifecycle

• The BWT tokens will pay all the payments on the platform for the service & products offered by the platform.

• Some countries don't offer the direct trading with the crypto they rather ask for currency for the internal trading for such geographical places the platform will build a new token very soon.

• The help of these tokens will also settle the settlement between the consumed & produced energy for the prosumer.

More information on the project (Bittwatt) please visit their website listed below:-

 WEBSITE: https://www.bittwatt.com/

 WHITEPAPER: https://www.bittwatt.com/static/files/Bittwatt-Whitepaper-EN.pdf

 TELEGRAM: https://t.me/bittwatt

 FACEBOOK: https://www.facebook.com/energyforthe21century/

 TWITTER: https://twitter.com/BittwattPteLtd

Author: Dulaj Dilshan

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1257822

Bountyhive Username: sachindu

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