BITTWATT – THE PLATFORM HAS STARTED DEVELOPING A NEW MARKETPLACE FOR ELECTRICITY BALANCING AND TRADING

Our global energy landscape is changing. Traditional centers of demand are being overtaken by fast-growing emerging markets, all the while technological advances and environmental concerns are shifting the world’s energy mix. According to the US EIA, latest projections show an increased world consumption of marketed energy from all fuel sources through to the year 2040. Renewables are currently the world’s fastest-growing energy source at a rate of 2.3%/year (2015 – 2040).

As things stand today, the current energy ecosystem is built around the exchange of what is essentially unstructured information. With energy transit slowed-down or even inaccessible as a real option (due to temporal, financial, or bureaucratic constraints), what all parties in the ecosystem face is a gradual yet unpredictable increase in costs. This lack of adjustability, increases costs dramatically for suppliers of energy (imbalances costs up from 300-400% from normal levels), creating a snowball effect that eventually hits endconsumers.

THE BITTWATT BUSINESS MODEL

Bittwatt responds to these strategic challenges by creating and deploying a completely new, simple and transparent platform, designed to deliver real value for every consumer. The Bittwatt platform empowers the smart-consumer to find best available supply solutions, and provides the consumer with a decentralized market place that functions on the transparency and full disclosure of information facilitated by the blockchain.

The Bittwatt ecosystem is in effect a matchmaking platform which connects producers, energy suppliers and smart consumers (as well as prosumers) in order to transact energy in a structured way. It is a flexible system that makes the best of all available resources and is able to meet customer needs much more efficiently. To this end, Bittwatt has integrated metering services that allow both new and existing supplier to communicate quickly and trade energy in a timely fashion within a secure framework.

Producers, suppliers, grid operators and consumers must register on the platform based on KYC criteria. The match between offers and requests is to be met through smart contracts that operate on the basis of individually defined rules. The flow of electricity is then automatically coded into the blockchain and algorithms match buyers and sellers, in real time, based on their predetermined set of preferences. Finally, smart contracts execute when electricity is delivered, thus triggering the payment from buyer to seller.

THE BTW TOKEN

Bittwatt will develop an ERC20 token with eighteen digits after the decimal point and the ticker symbol BWT. The total token supply is 400,000,000 BWT. A (1, one) BWT token represents a transferable token equivalent to 1 kWh. The BWT token is used for paying for electricity in the Bittwatt platform, regardless of geography or supplier (as long as the energy supplier is a Bittwatt partner).

TOKEN SALE

The Bittwatt coin sale goal is the equivalent of $36,000,000.00 (US). The minimum funding goal is the equivalent of $30,000,000.00 (soft cap). The price of one BWT in the token sale is $0.12 (average equivalent of 1 kWh). The split of caps, bonuses and available tokens in the various stages is illustrated in the table below:

Bittwatt has the strong potential to provide a solution for the energy sector by ensuring the following solutions to today’s problems:

1. Multiple parties share data – multiple participants can view shared information;
2. Multiple parties update data – multiple participants can take actions that need to be recorded and change the data;
3. Requirement for verification – participants can trust that the actions that are recorded are valid;
4. Intermediaries add cost and complexity – removal of central authority record keeper intermediaries will reduce cost and complexity;
5. Interactions are time-sensitive – reducing delay has business benefit;
6. Transaction interaction – transactions created by different participants depend on each other.

Roadmap

Team & Advisors

Team

• Cristian Hagmann – General manager & Co-founder
• Daniela Cristina Stoicescu – CEO & Co- founder
• Tudor Stomff – ICO Manager
• Alexandru Ioana – Content Manager / Creative
• Cristina Maria Banu – Marketing Specialist
• Adrian Asevoaia – Project Manager
• Marius Posa – Business Developer for East Europe
• Iulian Bobes – Research and Development Officer

Advisors

• Dan Cearnău – Advisor
• Ioana Frîncu – Advisor
• Andrei Popescu – Co-Founder of COSS.IO and Seasoned Blockchain Tech Start-Ups Investor/Advisor
• Rune Evensen – Rune is the project’s champion directing and supporting the team.
• Cristopher Bridges – Legal Advisor
• Ionut Scripcariu – Co-Founder at CardBlue – first independent prepaid card issued in Romania
• Martin Ermenkov – Country Partner Serbia
• Hristo Yanutsev – Country Partner Bulgaria
• Natasa Dogramadzieva-Maneva – Country Partner Macedonia
• Olosz Szabolocs – Country Partner Hungary

Quik Links

WEBSITE
WHITEPAPER
ANN THREAD
BOUNTY
FACEBOOK
TWITTER
YOUTUBE
TELEGRAM

 

Written by : Zein Grind
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1058576;sa=summary
Myetherwallet address : 0x43a45542BB18DA553E71EDe003ea8BeB320293E8