BITWATT: Transparent Energy Trading Platform based on the Blockchain technology

Introduction
Non-renewable Energy sources are the source of power on the earth. Humankind has been using various sources for energy generation since ancient times. The coal-fired power plant is the most common form of power generation in many countries. The developed countries have utilised the traditional method of power generation for centuries and it is time for them to put an end to these methods in the search for better solutions. Nuclear power, solar power and geothermal energy are a few of the popular renewable resources that are being utilised by many countries of the world.
Many organisations and nations have realised the importance of clean energy production which is an urgent necessity for the green earth. Current challenges of the energy system are high charges for electricity to the consumer, Lack of transparency in the electricity consumption monitoring platform etc. I think that there is a requirement of maintenance of energy ecosystem which consists of balanced and diversified energy sources. What do you think is the way forward?
Solution Offered
BITWATT is creating a smart platform built on the smart contract for the smart consumers. They are designing an ecosystem where each stakeholder has the equal power. Providing an opportunity to the consumers for switching easily between the different service providers is one of the core mission of the platform. Creating an energy trading market for the producers, consumers and traders based on the blockchain technology is one of the most important features of the platform. A few of the top products of the platform are Electricity billing & payment, E mobility & energy roaming facilities, Energy Exchange and P2P dispute settlements.

Reducing cost for the consumers so that they can efficiently utilise the renewable energy resources is the main motto of the platform. Building decentralised energy trading market to create competition among the energy producers which will ultimately benefit the consumers is the underlying philosophy of the BITWATT platform. They believe that Smart contract based agreement between the different stakeholders of the platform will increase the market adoption of the Blockchain technology. BWT tokens are at the heart of the platform which works as the value exchange for the different services on the platform.
ICO INFORMATION AND TEAM
400,000,000 BWT Tokens are created for the project in which 75% is reserved for the ICO. The Pre ICO is currently live on the platform until 31st March 2018. The main ICO will start from 1st April 2018 and continue until 28th April 2018.

55% of the funds will be utilised for the expansion of the project in multiple countries while 30% of the platform will be utilised for the development of the BITWATT platform. The team believes in the power of transparent energy market based on the blockchain technology. They are experienced in the business development and technology.
Conclusion
The non-renewable energy sources have been the main contributor to the power generation of the world. Countries developing the solution for the next generation power needs are worried about the limited amount of non-renewable energy resources. Non-Renewable energy sources are the majority contributor and fastest growing energy source in the world.The consumer is at the bottom of the electricity cycle and companies producing power have been focussing on the ways to make more money.
The only thing which can make them consider the value of the consumer is the power of technology and it is the right time for the integration, coordination and application of the blockchain technology. The continuous rise in the power requirement has put a heavy toll on the power manufacturers and the integration of renewable energy source is the right path for creating a balanced energy ecosystem. I think that they have brought consumers at the centre of the energy market and with the power of technology, they can change the energy landscape of the world. What do you think is the future of the transparent energy cycle?
Published by: Kishan

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