Bitlumens

BitLumens is building a decentralized, blockchain-based micro power-grid for 1.2 billion people

Bitlumens distributes solar power devices in areas without a power-grid and connects them to the blockchain. By paying for these devices in installments, people build up credit scores. Banks can access the data by using Bitlumens own token BLS and use it to issue micro-credits to those who urgently need them.

Data

The devices form micro-grids in places with no existing infrastructure. Our innovative software collects data and sends it to the blockchain. People can decide to make this data available to banks for micro credits and other financial services. Banks will gain access to over one billion people in need of a bank account.

Power Generation

The devices produce clean, zero-emission electricity and have an immediate impact on the quality of people’s lives. In the future, the devices can be interconnected to form micro power-grids in places without electricity, allowing people to trade energy within their communities. Th Micro-Grids will be a important role working on the progression of this technology

Security

The devices can be locked when users get in default with their monthly installments. This provides the necessary security for issuing micro-credits. On the other hand, users have full control over their data. Only they decide who can access and use it.

To access and use BitLumens software, BLS tokens are needed. The tokens serve multiple purposes: Users need them to pay the installments of their solar power device, banks need them to access the BitLumens SaaS (Software as a Service), family members use the tokens to send remittance for keeping service active.

Since users may not have internet access to pay digitally for their Solar Home Systems, BitLumens employs agents who will collect the payments in cash. They then buy a corresponding amount of BLS tokens from the open market. The BLS tokens purchased will be uniquely associated with the solar power device.

The BLS token is an ERC20 token based on the Ethereum blockchain. It does not represent equity in the company. Since every participant in BitLumens ecosystem will need to buy BLS from the open market, the demand for BLS will increase as the business scales.

BLS Tokens

• BLS tokens are required to access the credit score data of the 1.2 billion people who don’t have access to electricity and a bank account.
• BLS tokens are used to pay for electricity.
• BLS tokens are used to send payment by others to the device.
• Carbon mitigation is verified using IoT and will be tokenized at a later stage.
• Whoever needs BLS tokens to access BitLumens services will have to buy them from the open market

Andvantages of BLS

• Affordable access to safe, environmentally friendly and reliable electricity.
• Access to microloans and other financial services for billions of unbanked people.
• Avoid expensive remittance fees usually charged for micro-lending.
• Every token represents a portfolio of microloans collateralized by our hardware.
• Contributes to the United Nations Sustainable Development Goals