What Is TeraWATT?
Terawatt is a blockchain-based startup with a focus on the renewable energy industry. The company has a major focus on the monetization and global adoption of LED. Developers of this project will create a DAO and a deflationary-based Ethereum-powered private currency, which will be used for global payments.
This DAO is going to be funded and utilized by LED Sellers, Utility Companies, token holders, businesses, and energy customers globally. The DAO will be a decentralized global insurance fund that ensures utilities and businesses can always access funding, which often runs out, to subsidize LED sales to energy consumers.
TeraWATT Decentralized DAO LED Lighting Adoption Project
A DAO is a next generation organization, which will change how products are created and profits shared. The DAO is the largest crowdfunded project of all time. In essence, a DAO is a self-running company. There are no directors, managers, and employees in the conventional sense of the word. Crypto called the Ethereum powers it.
Money is the most important thing man has ever invented after language. It is more than just a way to buy things; it is a symbol of trust. Before the blockchain, trust relied on a central authority.
However, Ethereum is more than just a crypto coin because of smart contracts. These smart contracts let anyone create a trust agreement without the need for a middleman. The Bitcoin was designed to be an asset and a currency.
The DAO utilizes the Ethereum smart contract to power funding to how it pays people for the work they do. Just like a traditional company, the DAO was created for profit. The DAO is seeded via the sale of DAO tokens, the crowdfunding for the DAO ended on May 28, 2016. Whoever holds the DAO tokens has the power to vote on what the DAO will do.
One of the main reasons to invest in this DAO is that there is a high chance of making profits. You will also be able to direct funds via voting on community proposals and help drive the adoption of LED globally. The supply of the Terawatt token will rapidly decrease via a coin-burning algorithm. Besides that, Terawatt plans to use 50-75% of the profits to buyback and burn the LED ICO tokens.
TeraWATT LED Token ICO Details
Parameters Of The ICO
- Token Ticker: LED
- Total Tokens: 100,000,000 LED
- Private sale Date: June 2018
- Pre-ICO Date: July 2018
- ICO Date: September 2018
- Cap: $11,460,000
Any interested business and consumers can purchase the LED tokens; they are not limited to utility providers. This will help to grow the network effect. Right now, the founders have a growing decentralized fund as more token holders join. They also aim to do this for the SOLAR, WIND, GAS, Electric Vehicles, and other green technologies.
LEDs are just the start of the giant that Terawatt is going to be. The LEDs will be proof of concept and that will snowball into other sectors. Once utility companies experience innumerable benefits of being part of the DAO, they will be more than glad to join.