Can absolute balance in demand and supply in energy sector reduce the global warming?
Everyday there is a special mention of global warming impacts on our lives in newspaper, television and even social media. The current warming trend is significant because most of it is extremely likely to be the result of human activity. Climate change is the first sign that our planet is in distress and onus is on us to do our bit to reduce the global warming.
Eva Energy offers a true dynamic market place to energy ecosystem where consumers and suppliers perform energy (Electricity and Gas) trade in real time for their domestic and industrial usage. Eva Energy has been offering integrated utility services since 2012 and has earned a huge name for themselves by being customers focused and staying relevant to the market. Eva Energy won the “Best New Comer” Award in year 2015. They offer a real time tracking of demand and supply thus efforts hugely contributes in reduction of energy wastage.
Eva-Energy is all set to become more consumers friendly by offering cryptocurrency bill payment system to its Singapore consumers with their Crypto partner “Bittwatt”. For details on ICO, refer https://bittwatt.com/#ico
THE BITTWATT PLATFORM
Bittwatt is a matchmaking platform that connects all market players (from DSOs to consumers) and provides a standardized blockchain protocol for sharing relevant business information, all the while creating a decentralized service for energy supply, billing and balancing. Every supplier and consumer has to go through a mandatory KYC process to ensure our platform is 100% compliance from any regulatory aspect. Bittwatt is a clearly outperforming its peers in almost every important areas
The Bittwatt Platform is built to make do without useless bureaucracy by syncing consumption metrics and other relevant information within the blockchain. Bittwatt streamlines current-day operations by removing operational costs and transfer fees, all this within an automated workflow that also optimizes energy transfers on an hourly basis: it transforms normal consumers into smart consumers. On top of that, Bittwatt is built with sustainability in mind: as yield on energy is increased through the Bittwatt blockchain for all participants, energy waste and misuse are stamped out.
Our platform streamlines demand-response mechanisms in the grid through seamless transactions that aren’t subject to issues of trust — all thanks to blockchain technology.
Bittwatt encapsulates a series of core capabilities that enable scaling around the needs of each brand or each location in its network. With Bittwatt, power plants, suppliers, consumers and other operators can contribute in ensuring energy is no longer wasted.
The system also empowers all participants in creating sustainable and environment-friendly energy practices, that don’t compromise on modern-day human comfort.
What Problems Does Bittwatt Solve?
Despite electricity exchange being regulated in nearly all of the world’s countries, in real world situations what we see is the buildup of significant latencies. A few cases for consideration
• Energy exchanges between traders (or producers) and suppliers (B2B) take days for validation and completion to be completed, and there is no decentralized market where these can take place.
• There is no market for smart-consumers (B2C) from where they can a) transact unused energy supplies and b) choose and switch suppliers based on pre-selected criteria.
• Reporting electricity consumption from suppliers is done with a latency of at least 15 days, so that unbalances cannot possibly be corrected accurately or in real time.
• Energy transit is mandatorily done through the prior booking and setup of cross-border electric lanes; what’s more, once a cross-border lane is booked, it cannot be used by more than a single party — as there is currently no system in place to facilitate multi-party transfer. This is the case, despite multi-party transfer being both legal, as well as rational — since two entities (i.e. one that concedes unused lane space and the other that takes up unused lane space) can benefit at the same time from proper use of resources.
• End-consumers (of the domestic sort) must wait at least 15 days to change energy suppliers; at most, for purely bureaucratic reasons, this process can take 90 days. (E.g. United Kingdom — 15 days, Austria — 30 days, Germany — 2–6 weeks) 7 It’s because of all of these reasons that prices increase. With energy transit slowed-down or even inaccessible as a real option (due to temporal, financial, or bureaucratic constraints), what all parties in the ecosystem face is a gradual yet unpredictable increase in costs. From a technical perspective, this can be summed up simply in that the ecosystem is devoid of a smart demand-response system:
• In terms of grid pressure (which is to say that production cannot be adapted to the demand in the system), and
• Commercial implications (no decentralized market exists so as to keep supply offers and request together in order to enable fast switching) This lack of adjustability, increases costs dramatically for suppliers of energy (imbalances costs up from 300–400% from normal levels), creating a snowball effect that eventually hits end consumers.
This is the problem we are fixing.
PRODUCTS AND SERVICES:
• Electricity billing: For energy suppliers in particular this is a welcome application as it gives opens the possibility of significantly reducing human error and administrative costs normally associated with this type of transactional activity. Accurate billing and access to full billing history will in turn increase customer confidence and retention of the existing customer base.
• Payments: Debt collection for energy suppliers can be a complex process. Our method will make things easier and faster. Every consumer will need to have a credit card attached to their account, and when the invoice is generated they will be debited with the invoice value, significantly reducing associated administrative costs. The billing and payment processes are already integrated in the existing Commercial platform of Bittwatt which currently8 services 2 suppliers across 2 countries and more than 50.000 end consumers.
• Forecast: Designed for a broad range of users, the solution offers automatic, configurable and manual modes so users can retrieve forecasts and modify scenarios interactively. Automated forecasting means less manual input and makes large forecasting processes more manageable and user friendly.
• E-Mobility & Energy Roaming: Electric vehicles are an essential part of the solution to meeting Europe’s climate sustainability goals and energy targets. Being three to four times more energy-efficient than conventional cars, but also enhancing air quality and noise levels reduction in densely populated urban areas, electric vehicles will play a growing role in mobility and transportation. 2017 saw multiple European nations starting on this new trend. France announced that it plans to ban new petrol and diesel cars by 2040, and the British government followed soon after with a similar announcement. This triggered an avalanche of announcements from car companies around their common intention to produce more EVs in European and global markets. Numbers are expected to grow rapidly as Volkswagen Group announced that they will be developing 80 new electric models by 2025, as well as BMW with 12 different EV models by the same time, and Honda announced that 15% of their annual sales will be from electric cars by the year 2030.
Considering EVs technology is surely being set up for mass deployment, the industry and policymakers alike must ensure that these processes live up to their potential and help transform the energy system. While there have already been some positive signs from policymakers, a clear framework lacking as of yet despite it being desperately needed.
We offer market opportunities for players in the field of electric mobility and make it even easier for individual drivers to cross national borders while enjoying the advantages brought by EVs. With that, our open platform connects the back offices of our ecosystem partners in order to turn Europe into a single, large charging-network. What’s more, E-mobility is an option 8 February 2018 20 on our platform that enables the exchange of roaming authorization, charge transaction and charge point information data. And we offer market players in electric mobility cross-border interoperability between networks. With all that said, we reiterate that our mission is to foster the sustainable development of e-mobility by enabling reliable data exchange through a single connection, and a single interface.
• Arbitrage Energy / Exchange: Through this app, users can leverage energy storage through smart devices in order to purchase energy when it is cheap (or free), and either use it or resell it when prices peak, thus enabling an exchange of energy that also sets the foundational layer of our demand — response mechanism.
• Peer-to-peer Settlements: The platform provides a multilateral framework for energy cooperation that is unique under international law. It is designed to promote energy security through the operation of more open and competitive energy markets, while respecting the principles of sustainable development and sovereignty over energy resources — and most importantly, while respecting national laws in each operating country.
Our scope revolves around improving security of energy supply, and maximizing the efficiency of production, conversion, transport, distribution and use of energy — all that to enhance safety and minimize environmental concerns and risks on profitable economic terms.
That being said, our platform integrates:
Ø Consumption information (in real-time)
Ø Energy exchange metrics
Ø System balancing mechanisms
Ø Energy trading contracts
Ø External energy trading contracts
Ø Energy supply contracts … into a blockchain that allows for instant adaptation to real-world conditions and requirements, for all platform participants in the system.
Uniting the aforementioned into a single, simple user interface is the major achievement of Bittwatt — and it is what brings added value as well as differentiation to our ecosystem customers and business partners. Time and time again, the world of industry has shown us that simplification and digitization of services people require regularly is the key to healthy and sustainable growth — and with that in mind, we have developed Bittwatt as a platform that does away with bureaucracy, reduces costs, simplifies the user experience all the while offering flexibility and responsiveness that outweigh any reluctance of the consumer to switch to our new design.
Token sale
The Bittwatt Coin Sale Goal is the equivalent of $36,000,000.00 (US). The minimum funding goal is the equivalent of $30,000,000.00 (soft cap). The price of one BWT in the token sale is $0.12 (average equivalent of 1 kWh). The split of caps, bonuses and available tokens in the various stages is illustrated in the table below:
Company Name: Bittwatt
Company Website: https://bittwatt.com
Telegram: https://t.me/bittwatt
Twitter: https://twitter.com/BittwattPteLtd
