Bittwatt - Energy For 21st Century

amonk (29)in #bittwatt • 6 years ago

Introduction

Nowadays people are competing to find alternative energy because energy is the source of life for all beings in the world. Which is if energy does not exist then all life will perish. with technological advances as humans try to combine Energy and Technology to simplify human work because technology can connect people around the world. One of the most important energy in daily life is Electrical Energy.

Electrical energy is now a major requirement in the modern era, the source of electrical energy can be generated from various sources, such as water, oil, coal, wind, geothermal, nuclear, diesel, and others. but hydroelectric and other energy sources provide the market to a much larger consumer. With global clean electricity production expected to grow 45% to 34 trillion kWh by 2040. The more we consume it will trigger high payouts so that is way exploiting and using energy sparingly to improve energy efficiency and reduce energy shortages in the future. now Bittwatt has been present which will provide various solutions related to Electrical Energy.

What Is Bittwatt?

Bittwatt is a matchmaking platform that connects all market players (from DSOs to consumers) and provides a standardized blockchain protocol for sharing relevant business information, all the while creating a decentralized service for energy supply, billing, and balancing.

Problem Of Bittwatt

The current energy ecosystem is built around a fundamentally unstructured exchange of information which means that many types of documents are used to sell or buy electricity, and more and more general processes are completely redundant, which leads only to higher prices. Although electricity exchanges are being regulated almost in all countries of the world, the current natural world situation is a significant buildup of latency.

Here are some main problem as follow:

The energy exchange between merchants (or producers) and suppliers (B2B) takes days for validation and completion.
There is no market for savvy consumers (B2C) where they can trade unused energy supplies.
Reporting the electricity consumption from suppliers is done with a minimum of 15 days latency.
Transportation of energy shall be made through prior reservation and arrangement of cross-border electricity lines; moreover, once a cross-border route is ordered, it can not be used by more than one party.
The final consumer (of domestic type) must wait at least 15 days to change the energy supplier.

The Purpose Of Bittwatt

Bittwatt aims to be the first international platform to integrate and facilitate cooperation between all market operators for the benefit of consumers and therefore to achieve that bittwatt is committed as follows:

creating a simple, transparent blockchain energy trading market and delivering more value to all users.
growing globally (London, Bucharest, and Singapore are under development).

ICO

Symbol Name: BWT
Price 1 BWT: $0.12 (the average equivalent of 1 kWh)
Token Supply: 400,000,000 BWT
The Bittwatt Coin Sale Goal is the equivalent of $36,000,000.00 (US)
Soft Cap: $30,000,000.00

Unlike most current payments using (cash, bank transfers, etc.) Bittwatt proposes payment via BWT in the case of peer-to-peer transactions that allow for the use of cryptocurrency. where the countries currently do not allow this rule to take place, therefore on the first commission transactions taking place at BWT, and only in the next stages (legal licensing) will the application of the general BWT payment system entirely to all transactions between ecosystem partners.