Bittwatt: Decentralized Service For Energy Supply, Billing and Balancing
As the conventional sources of energy demand have been changing with the emergence of the brand-new markets and the technological developments, there is an urgent need for transformation of the energy sector and for the adoption of new power trends to guarantee the sustainability. Apparently, all types of renewable energy have become much more noteworthy and vital when compared to traditional energy resources like coal-fired power plants, onshore oil or gas fields. It is significant to state that there are fundamental challenges which put the energy ecosystem in jeopardy.
All the actors in the market such as producers, suppliers, market operators, transport and system operators, distribution system operators, electricity traders and customers face with them. These challenges are the maintenance of the healthy energy mix, guaranteeing the further advancement of the natural gas supply, adoption of the biomass in heating, cogeneration as well as innovation of CHP production and energy deficit and effectiveness. Specifically, customers deal with several shortcomings because of the nature of the market.
With the in-depth knowledge of the existing energy system and structure, and being aware of the challenges, Bittwatt team decided to offer an advanced and a unique platform that ensures the real value for consumers. Hence, the team introduces the decentralized Bittwatt platform that provides the most excellent supply solutions to consumers based on the blockchain technology promoting the security, transparency, and disclosure. Bittwatt offers various advantages to consumers and all the actors in the market.
Currently, the validation and completion time of energy exchanges between the traders due to the lack of decentralized markets, and there is no room for smart-consumers for the transaction of unused supplies and selection of the suppliers. In most cases, end-consumers also wait for a long time to alter suppliers because of the bureaucracies of the countries. Moreover, regarding energy transit, there are the problems of prior booking and lack of the multi-party transfer. All the latencies and practical difficulties derived from the lack of smart demand response system lead to increase in costs and prices. In this point, Bittwatt aims to establish sustainable energy structure promoting the emergence of smart-consumers, and eliminating the latencies and minimizing the costs for all actors in the energy sector.
All the parties will be able to get access to a global platform that guarantees the cooperation and mutual gain. Bittwatt builds a sophisticated energy trading market based on the blockchain technology altering the way of operations of the electrical systems, and the energy ecosystem will be fully ready till 2022. Producers, energy suppliers, and smart consumers will be able to establish secure and transparent connections with the exclusive feature of the matchmaking, so energy transactions among the parties will be systematized and well-operated. Due to the adaptable and responsive nature of the ecosystem, users will reach out the resources that meet their needs best. All the parties will benefit from the time-saving and secure ecosystem that enables the balancing the processes with the slight help of Bittwatt System Operator. Bittwatt guarantees the smooth functioning of the system facilitating the real-time consumption data with the support of blockchain, empowering the secure and transparent mechanism of matching using criteria (demand and supply).
With the help of several products and services such as electricity billing, peer-to-peer settlements, payments, e-mobility, and energy roaming and arbitrage energy, Bittwatt will reduce the overall costs, increase the transaction speeds, promote scalability and ensure the disintermediation.
Bittwatt introduces the BWT tokens that will be used for the payments for the services as well as products.
ICO starts soon. Visit : https://www.bittwatt.com/
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