Recent statistics indicate that over 1 billion (17 percent) of the world population have no access to electricity. Similarly, more than 2.5 billion (38 percent) people depend on conventional biomass for lighting, cooking, and heating in their homes which is a serious health risk.
Pollution and climate changes are negatively impacting the world by creating health and economical losses every day. All these factors emphasize the importance of generating more renewable energy.
Unfortunately, there lacks enough programs for the production of renewable energy. Also, currently existing energy generations programs are limited in some ways. However, by applying technology, it is possible to generate and produce renewable energy for the world.
Swytch renewable energy program which is based on blockchain technology is at the forefront of tracking and rewarding the generation of clean renewable energy.
What Exactly is Swytch SET?
Swytch utilizes blockchain to produce and track renewable energy sources. Its mission is to create a global network of renewable energy producers and consumers for a safe future. The company is bent on enabling energy tracking and verification cost-effective, valuable and transparent. In addition, it has an objective to create practical reserve currencies that are geared to finance renewable energy production programs or reward such undertakings.
Swytch also has a mission to become a leading renewable energy data source that can help creators capitalize on future energy projects. Information about the company says they want to develop an active network of people and societies that can drive an equitable and sustainable energy future for the world.
How Swytch Works
Based in Boston, and with offices in Austin and Korea, Swytch aims to build a renewable and sustainable energy team. An incentive-based mechanism, Swytch works as data aggregation source as well as a protocol for renewable energy generation that is in form of ERC20 tokens. Renewable energy producers create Swytch by producing wind, solar, and other methods of renewable energy. Energy production is authenticated using Swytch's Production protocol.
Swytch tokens can be produced anywhere electricity can be produced and expended from both small residential and large-scale industrial power infrastructures. Either, the tokens can be generated in the course of TGE or through the renewable energy production on assets.
After Swytch token generation, members can trade. According to Swytch, once the growth takes hold, there will be a lot of member investments, and embracing of renewable energy all over the world.
How to Join Swytch SET
To become a member, one is required to create a Swytch account on their platform. Once registered, members can use mobile apps to access the platform to track, store and transact tokens. As far as token benefits are concerned 5 percent of minted tokens goes to the firm.
Swytch partners include energy experts, global cities, and renowned academic institutions. Partners include E2M, Black & Veatch, and big cities. Other partners can be viewed on the company website. Using such partnerships, Swytch aims to build the supply and demand of energy in the market place.
Members can have Swytch coins which they can use for several services on the platform. With blockchain technology, Swytch will continuously build numerous networks or members around the world for clean production of renewable energy to reduce challenges brought about by lack of clean renewable energy globally.