The overview of Bittwatt
Bittwatt proffers a systemized blockchain protocol for allocating appropriate business information while creating a decentralized facility for energy billing, supply, and balancing. They enable peer-to-peer transactions through a secure multilateral frame for the energy cooperation nationwide, along with the energy arbitrage and its effective exchange by its self-developed trading and exchange system.
How will Bittwatt work?
Bittwatt will start its processes by connecting the energy providers in the countries that Bittwatt covers. All the suppliers, consumers as well as the producers must register with Bittwatt as per the KYC criteria. The smart contracts enable match making between requests and offers and the electricity flow is automatically embedded as a code in the blockchain algorithm. Now, the buyers can find the right sellers based on their set preferences in real time.
What benefits does Bittwatt provide to Energy sector?
Bittwatt aims to provide the following solutions and benefits to the electricity supply sector-
- The trade of energy between the producers or traders and the suppliers need a whole day for the process of validation and completion. Bittwatt aims to resolve this platform by creating a single unified platform where instant approvals can be possible.
- Reduction in costs will be achieved as compared to other energy transfer systems.
- There will be scalability option for an increased number of users.
- The payment and billing process can be simplified since debt collection can be a humongous task. Bittwatt plans to make things faster and easier through its novice processes.
The hard cap of Bittwatt is set at 36,000,000.00 USD and the soft cap is set at 30,000,000 USD beyond which the tokens will be refunded to the owners. The minimum private sale investment that can be done in Bittwatt’s token is 10,000 USD.
Out of the 400 million BTW tokens, seventy-five percent will be put on sale during ICO, ten percent will be reserved for the team, 2 percent will be kept as bounty and 5% will be invested into cross-country marketing. A small sum of 5 percent will be kept for the advisors of the team.
Proceeding to the business plan, 55 percent of the total funds raised will be used in the expansion of the business to over thirty countries globally and approximately 30 percent of the total funds will be used for the development of Bittwatt platform. The remaining fifteen percent of the total funding received will go into the integration of the existing infrastructure in the energy sector and the Bittwatt platform.
The ICO will be conducted in four phases excluding the pre- ICO sale. The phase one which will be 16 days long from 23rd March to 7th April, will provide a bonus of 15 percent, the second phase will be 7 days long, will offer 10 percent bonus and will be conducted between 8th April and 14th April 2018. The phase 3 will give 5 % bonus and will be held for 7 days, starting from 15th of April to 21st of April and the last phase will be held between 22nd April and 28th April 2018.
Total supply: 4 000, 000,000 BWT
ICO Start date: 23.03.2018
ICO End date: 28th April 2018
ICO Price: 0.12 USD