With the growth of the population of the planet, sharply there is a problem of exhaustion of fuel resources of the carbon sector (gas, oil, coal, etc.). Besides exhaustion of carbon resources, the problem is become heavy also by an environmental issue. The emission of carbon dioxide received at combustion of hydrocarbons leads to thawing of ices and air pollution.
Annually, a majority rule of the developed countries of the world, allocate the enormous sums of the money for development of the alternative energy sources which are not connected with mining and not influencing ecology. Nevertheless, such alternative sources cannot replace already existing fully. The main reason for it consists in inefficient distribution of the electric power developed by alternative energy sources. All infrastructure of the existing system of distribution of the electric power was constructed still in those days when very few people thought of economy and ecology. For this reason, already now the question of revision of approach to trading and granting, in the market of the power industry, became relevant.
The Bittwatt project realizes the ecosystem allowing to buy or sell energy by means of the conclusion of smart contracts between the supplier and the consumer. As the ecosystem of Bittwat is created on a blockchain Ethereum, it gives to interested parties the main advantage: speed of carrying out a transaction. Unlike traditional methods of carrying out the transactions taking in the majority of cases up to several days, the blockchain allows performing the same operation for several seconds. Speed and lack of bureaucracy, allows the Bittwat project to use more effectively resources, raising or lowering thus a creation of necessary amount of energy resources proceeding from requirements of the market.
As Bittwatt works
The business model with Bitwatt begins with the conclusion of smart contracts with suppliers of energy in each country where service is planned. At the same time, the system will sign smart contracts with service providers which meet certain requirements. Further, users who want to buy the electric power are registered on the platform of an ecosystem and sign smart contracts under certain conditions. All data on the reached agreements are in the ciphered state in a blockchain. After electrical supply, the system obtains information on the performance of its obligations by the supplier according to the smart contract and automatically transfers money from the customer account for the received electric power.
The platform of an ecosystem Bittwatt will be available to all irrespective of the size. The structure of the platform is developed so that to give it to users to apply balancing processes when a certain amount of energy is developed under a certain number of consumers. It gives the chance to producers of the electric power considerably to save the resources made under potential "stock". What in turn gives the chance to reduce electric power cost, to reduce harmful emissions of carbon dioxide in the atmosphere of the planet. Bittwatt will use the built-in system of artificial intelligence, for optimization of deliveries.
For optimization of the costs connected with converting of national currencies, all internal mutual settlements will happen on the platform in own tokens of BWT which are released according to the ERC-20 standards of a blockchain Ethereum. What in turn guarantees their high liquidity.
At the moment time, the ecosystem of Bittwatt carries out the attraction of investments (ICO), on the basis of own tokens of BWT for development of the platform and expansion of a business model in more than 30 markets. Within own ICO the Bittwatt project plans to release 400 000 000 BWT of tokens for the total amount of 36 000 000 dollars. The minimum contribution, for participation in the investment of an ecosystem of Bittwatt, will make an equivalent of 10 000 dollars. Contributions are accepted in BTC and ETH. 55% of borrowed funds (about 13 750 000 dollars) will be used for marketing and scaling of the platform. 30% of borrowed funds (about 7 500 000 dollars) will be used for development of the software of an ecosystem. 15% attracted monetary (about 3 750 000 dollars) of means will be used for integration into the existing traditional platforms.
References on our official pages of the Bittwatt project:
Official site: bittwatt.com
Twitter: twitter.com/BittwattPteLtd
Facebook: facebook.com/energyforthe21century
Bounty: bountyhive.io/r/artkilops
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