Are you interested in companies that use the blockchain technology to provide cheap energy for people? Then you will certainly be interested in our review about a new startup company called Bittwatt.
What Is Bittwatt?
Bittwatt is a new decentralized matchmaking platform that has the objective of providing a space for the connection of all the relevant actors involved in the energy market, ranging from the people who produce the electricity to the consumers. The company has created a blockchain service that will be useful for the creation a system that can get energy supply, billing and balance for all.
How Bittwatt Blockchain Energy Matchmaking Works
The platform intends to cut the bureaucracy and as many middlemen as possible by connecting consumption metrics and other data on the blockchain, while streamlining operations and diminishing the operational costs of the companies and their associated transfer fees, which are usually very high.
Bittwatt was created to optimize energy flows and to terminate energy waste once and for all. Thanks to the technology provided by the blockchain, people do not even need to trust each other because smart contracts will do everything in their power to arrange the business automatically and assure security for both sides while people do not need to do anything except accept them.
The company’s final goal is the creation of an ecosystem which can be both empowering for both individual users and companies while also not wasting energy and being environment-friendly. Bittwatt will use P2P settlements that will enable faster and transparent solutions and watch consumer profiles. This will enable the company to have a smart demand-response supply, which will be discovered using AI.
The ecosystem will be made from the desktop and the mobile apps of Bittwatt. They will allow peer to peer transactions, energy arbitrage and exchange (enabling users to buy and store energy to be used or sold when the prices are higher) and create energy roaming networks.
Bittwatt BWT ICO Details
Bittwatt has made an Initial Coin Offering (ICO) to gather the funds to build the platform. The official price per token is $0.12 USD. Here is the schedule of the ICO:
March 18-31: 90,000,000 tokens with 35% discount;
- ICO Phase 1: April 1-7: 50,000,000 tokens with 15% discount;
- ICO Phase 2: April 8-14: 50,000,000 tokens with 10% discount;
- ICO Phase 3: April 15-21: 50,000,000 tokens with 5% discount;
- ICO Phase 4: April 22-28: 50,000,000 tokens with 10% discount.
Who Is Behind Bittwatt?
The two co-founders of this project are Cristian Hagmann (general manager) and Daniela Cristina Stoicescu (CEO). Hagmann has had more than 20 years of experience working in the energy sector before he decided to found this company, while Stoicescu is in charge of a power supply company and decided to branch out creating this company.
Other key members of the company are Tudor Stomff (ICO Manager), Alexandru Ioana (Content Manager), Cristina Maria Banu (Marketing), Adrian Asevoaia (Project Manager), Marius Posa (Business Developer for Eastern Europe), Iulian Bobes (Research and Development Officer).
Bitwatt seems to be an innovative solution for a problem that the world is going to have to face soon: energy will probably get more expensive if the current model continues because the world’s population is growing. Companies like this can turn into great investments because they are providing the type of technology that the world is going to need in the near future.