Terawatt - Global Adoption of LEDs with Blockchain Technology

doudi

About Terawatt

Leverage blockchain technology to help reduce global lighting-related electricity use by 50 percent by 2035 while increasing light output by 50 percent. Terawatt will create deflationary currency to compete with FIAT and digital alternatives such as Bitcoin. Terawatt aims to tackle other renewable energy sectors, such as solar, wind and electric vehicles, once proof of concept is achieved with LEDs

Method:

Terawatt will create a decentralized autonomous organization (DAO), as well as a highly deflationary Ethereum-based currency for global payments. The DAO will be funded and used by utility companies, LED vendors, businesses, token holders and energy customers worldwide. The DAO will act as a decentralized global insurance / mutual fund to ensure that utilities (and businesses) always have access to (which is constantly running out) funding to subsidize LED sales to their consumer customers of energy (or to companies upgrading to the LED version).

This is a major advantage for utility companies as they want 100% of their customers to have energy efficient lighting due to the progressive overloading of the grid, which forces them to build (and maintain) expensive power plants (hundreds of millions of dollars) to meet demand. . They are also mandated by government agencies (namely the US Department of Energy and the US Environmental Protection Agency) to increase LED adoption in their respective markets. Companies want LEDs because they reduce electricity bills, increase light output, reduce maintenance costs and allow them to benefit from tax incentives. The initial cost was the problem, but Terawatt will help overcome this problem.

The Terawatt token will also be used as a currency similar to the ETH in any company or utility that will accept it as a method of payment. DAO members with companies will want to accept Terawatt tokens as a payment as they will gain increased voting power / taxation in DAO, and because it is much more deflationary than FIAT or other crypto-currencies due to the structure continuous coin engraving, which equates to potentially increased profitability.

Power utilities and other token holders will purchase in the DAO with our tokens, we will charge a fee for entry and exit, and when they sell their position, we will take a percentage of their profits (such as a fund common investment or an exchange made). We will take 50 to 75% of these profits to buy back and burn our own chips daily (per transaction based). With Terawatt, all people and businesses can have uninterrupted access to cheap / free LEDs, which significantly reduces their purchase costs, their electricity bill, their overall lighting efficiency and, hence, their greenhouse gas emissions.

The token (LED) will grow exponentially or not, as more and more utilities (and energy buyers / customers / other businesses) understand the benefits of using our tokens and membership in the DAO (Metcalfe's Law), thereby increasing demand. decrease in supply.

Through the use of DAO, key partnerships (we are actively seeking collaborations and partnerships with utilities around the world), deflationary offerings, symbolic incentives and voracious marketing, Terawatt wishes contribute to the integration of LEDs in all commercial, industrial (lamppost), government and residential buildings. / installations worldwide and efficiently increase the flow of incandescent, metal halide (MH), high pressure sodium (HPS) and less efficient compact fluorescent (CFL) systems to 100% LED (light emitting diode) lighting ).

Token holders will also be able to find and use applicable instant tax rebates, search for tax credits, and securely store this purchase data on the network for later use. for the deposit of their taxes. Participants can buy, sell, play with masternodes (if available), vote, donate or keep (tokens) chips (LEDs), which will feed the Terawatt ecosystem.

Our mission

This is due to our continuous part engraving algorithm. Terawatt will automatically use 50 to 75% of the company's profits generated by DAO entry / exit fees, profit-taking fees (such as an exchange), time-lapse fees, data storage charges of the carbon tax, carbon credits and even sales commissions of LED affiliates and burn (LED) tokens. This is similar to the BNB token, but they burn only quarterly, we will burn 24/7.

Utilities and other companies will want to accept our payment tokens because our deflation rate is much higher than all FIAT currencies and most, if not all, crypto-currencies / tokens, while being more secure with zk-SNARKS and private as well as masternodes when available. In addition, the more chips they must enter into the DAO fund, the more voting, profit and rewards they have. Due to the network effect (Metcalfe's Law) This will further increase the value of the token.

The problem of lighting / solution

Ineffective light bulbs generate both unnecessary greenhouse gas emissions, which contribute to climate change, and unnecessarily exorbitant electricity bills for people and governments. Terawatt will help solve this problem by

Driving the adoption of LEDs

LED lighting solutions have never been more accessible and affordable than today. With many rebate programs and incentives, more and more cities are opting for LED street lighting. And why not them? As we all know now, LEDs are energy-efficient and durable, which means huge energy savings and lower maintenance costs. But what about the other benefits? Such as reduced crime rate, safer neighborhoods and perceived improvement in general? These are all advantages that public LED lighting can offer compared to the orange glow of high-pressure sodium (HPS) public lighting that still lights up most of our streets and neighborhoods.

Why do we need blockchain?

Create an immutable, decentralized, secure, private deflationary currency (zk-SNARKS) with utility functions
We need complex smart contracts to power the DAO
We need transparency, immutability, decentralization and verifications of all transactions made on the platform.
Extremely precise automation of processes
It becomes practical to work with other crypto-currencies in an increasingly digital world. Integration with other blockchain projects (product tracking, verification, ecosystem development, etc.)
Reliability and fault tolerance

CASE STUDY: LOS ANGELES REVEALS $ 8.7 MILLION ANNUAL SAVINGS

Why LED?

Advantages

Light immediately, like an incandescent bulb
Even after using they stay cool to the touch
Last up to five times longer than CFLs
No sensitivity to cold
Does not contain mercury
Some models can be used with a dimmer
Available in soft, warm and bright white hues

"Low energy light bulbs use less than 20% of the energy of a conventional light bulb and can last 15 times longer." -Carbonfootprint.com

Description of the token

Our project will use Ethereum to issue and create tokens mainly because it builds on the foundation that our technology will implement. Terawatt will manipulate blockchain smart contracts. Terawatt token will be standard ERC20 token with some specific modification. Our algorithms will verify that the consumer has actually purchased the bulbs from an appropriate vendor and will add the transaction to the blockchain. Smart contracts will manage and execute the entire process.

Characteristics