Looking at our global energy landscape with its fast changing pace, one can notice a manoeuvre of the Traditional centres of demand by a fast-growing emerging markets. The world’s energy mix is being moved by technological advances and environmental concerns. And an adaptive strategy is therefore needed for the energy industry to successfully fulfil the need for sustainable power.
However, notwithstanding all efforts to meet up with the challenges in the industry, unstructured information and several others factors, continue to militate against the current energy ecosystem, meaning in essence that literarily, countless types of documents are used to either sell or buy electricity, and an increasingly large number of commonplace processes either back or front-end, are in truth redundant, and lead only to higher prices.
THE GOOD NEWS FROM Bittwatt
With a view to creating a world of smart-consumers in a sustainable energy system at minimal costs for both suppliers and consumers, Bittwatt has come to be the first international platform to integrate and facilitate cooperation between all market operators for the benefit of the consumer by:
- Creating a blockchain enabled energy trading market that is simple, transparent and delivers more value to all its users and
- Expanding its reach globally (London, Bucharest and Singapore being already under development).
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, we have integrated metering services that allow both new and existing supplier to communicate quickly and trade energy in a timely fashion within a secure framework.
Bittwatt Token (BWT Token) and Bittwatt Coin
An ERC20 token with eighteen digits after the decimal point and the ticker symbol BWT will be developed by Bittwatt and this will become the foundation for all operation within the ecosystem with a total token supply of 400,000,000 BWT.
1 BWT token represents a transferable token equivalent of 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).
What Is New From Bittwatt To Our Energy Sector?
Bittwatt has come up with a strong potential to provide a solution for the Energy Sector by ensuring the following solutions to today’s problems:
Ability of multiple parties to share data – multiple participants can view shared information.
Ability of multiple parties to update data – multiple participants can take actions that need to be recorded and change the data
Requirement for verification – participants can trust that the actions that are recorded are valid
Intermediaries add cost and complexity – removal of central authority record keeper intermediaries will reduce cost (e.g. fees) and complexity (e.g. multiple reconciliations)
Interactions are time-sensitive – reducing delay has business benefit (e.g. reduced settlement risk, enhanced liquidity)
Transaction interaction – transactions created by different participants depend on each other.
These and other advantages are offered by this awesome project. Join our smart world of energy solutions.
Visit:
bountyhive.io/r/ogbonnajunior