TERAWATT – Global LED Adoption Through Blockchain Technology
The revolution of cryptocurrency is amazingly spreading like wide fire and has been gaining a remarkable level of acceptance.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are a kind of alternative currency and digital currency (of which virtual currency is a subset). Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems . (https://en.wikipedia.org/wiki/Cryptocurrency.
While this revolution is gaining wide acceptance, Terawatt, a based on Blockchain technology and a patented company of renewable energy sources with a strong focus on monetization and worldwide introduction of LED has arrived.
Terawatt is a based on Blockchain technology and a patented company of renewable energy sources with a strong focus on monetization and worldwide introduction of LED. The company creates a DAO based on Ethereum, a private currency for global payments. The DAO will be financed and used for utilities, vendors, organizations, tokens holders, and energy consumers on the entire planet. The DAO will exist as a decentralized global insurance fund for providing public services, access to finance, and for subsidies.
Furthermore, Terawatt will also create a deflationary currency to compete with FIAT and digital alternatives like Bitcoin. Terawatt aims to tackle other renewable sectors like Solar, Wind, Electric Vehicles after proof of concept is achieved with L.E.D.s.
Terawatt will create a Decentralized Autonomous Organization (DAO), and also create a highly deflationary Ethereum based currency for global payments. The DAO will be funded and used by Utility Companies, L.E.D. Sellers, Businesses, Token Holders, and Energy Customers worldwide. The DAO will act as a decentralized global mutual/insurance fund to ensure Utilities (and businesses) always have access to funding (which constantly runs out) for subsidizing L.E.D. sales to their energy customers (or for businesses upgrading to L.E.D.s).
This is a major benefit to utility companies as they want 100 percent of their customers to have energy efficient lights due to progressive grid overload, which forces power companies to build (and maintain) expensive (Hundreds of millions of dollars) power plants to meet demand. They are also mandated by government agencies (i.e. US Department of Energy and US Environmental Protection Agency) to increase L.E.D. adoption in their respective markets. Businesses want L.E.D.s because they reduce electricity bills, increase light output, reduce maintenance costs, and qualify them for tax incentives. The upfront cost was the issue, but Terawatt will help overcome this.
The Terawatt Token will also be used as a currency similar to ETH at any business or utility company that will accept it as method of payment. DAO members with businesses will want to accept Terawatt tokens as payment because they will gain increased voting/staking power in the DAO, and because it’s much more deflationary than FIAT or other cryptocurrencies due to continual coin burning structure, which equals potentially increased profitability.
The power companies, and other token holders, will buy into the DAO with our tokens, we’ll charge a fee for entering and exiting, and when they sell their position, we take a percentage of their profits (like a mutual fund or an exchange does). We will take 50-75% of these profits to buyback and burn our own tokens daily (per transaction depending). With Terawatt, all people and businesses can have uninterrupted access to inexpensive/free L.E.D.s which substantially decreases their purchasing costs, electricity bills, increases global lighting efficiency, and in turn reduces global greenhouse emissions.
The (LED) token will may or may not exponentially increase in value as more power companies (and buyers/energy customers/other companies) realize the advantages of using our tokens and of joining the DAO (Metcalfe’s Law), thereby increasing demand while also decreasing supply.
Through DAO utilization, key partnerships (We are actively pursuing collaborations and partnerships with utility companies globally), deflationary supply, token incentives, and voracious marketing, Terawatt aims to help put L.E.D.s in all commercial, industrial (street lights), government and residential buildings/facilities worldwide and efficiently increase the changeover from less efficient Incandescent, Metal Halide (MH), High Pressure Sodium (HPS), and Compact Fluorescent Lighting (CFL) to 100% L.E.D. lighting (Light Emitting Diode).
Token holders will also be able to find and utilize applicable instant tax rebates, search for tax credits, and then securely store this purchase data on the network for later use in filing their taxes. Participants can buy, sell, stake with masternodes (when available), vote, donate, or hold (LED) tokens, which will power the Terawatt Ecosystem.
Terawatt will automatically use 50–75% of company profits earned from DAO entry/exit fees, profit taking fees (like an exchange), time decay fees, carbon tax data storage fees, carbon credits, and even from affiliate L.E.D. sales commissions to buyback and burn (LED) Tokens. This is similar to the BNB token, but they only burn every quarter, we will burn 24/7.
Utilities and other businesses will want to accept our tokens for payments because our rate of deflation is much greater than all FIAT currencies and most, if not all, cryptocurrencies/tokens while also being more private and secure with zk-SNARKS and masternodes when available. Furthermore, the more tokens they have to enter into the DAO fund, the more voting power, profits, and staking rewards they can receive.
To create an immutable, decentralized, secure, private (zk-SNARKS) deflationary currency with utility functions
Complex smart contracts to power the D.A.O. is needed.
Transparency, Immutability, Decentralization and verifications of all transactions performed on the platform is needed.
Extremely precise process automation
It becomes convenient to work with other cryptocurrencies in an increasingly digital world. Integration with other projects on blockchain (product tracking, verification, ecosystem expansions, and so on)
Reliability and fault tolerance
Light up immediately, like an incandescent bulb
They stay cool to the touch even after use
Last up to five times longer than CFLs
No sensitivity to cold temperatures
Do not contain mercury
Some models can be used with a dimmer switch
Available in soft, warm, and bright white hues
Token Sale and ICO Details
The Terawatt token will be a standard ERC20 token with some specific modifications. The algorithms will verify that the consumer has actually purchased the bulbs from a suitable seller and add the transaction to the blockchain. Smart contracts will execute and manage the entire process.
Token – LED
Platform – Ethereum
Type – ERC20
PreICO price ** 1 LED = 0.30 USD**
Price in ICO 1 LED = 0.40 USD
Min. investment 0.2 ETH
Distributed in ICO 65%
Soft cap 500,000 USD
Hard cap 13,500,000 USD
Allocation of Funds
Project Conception, Whitepaper drafted, Patent Filed
Team Building- Acquired CTO, COO, and Advisor
Whitepaper/Website, Trademark Granted, Listed on KICKICO
Building Presence, Token Presale site under development
Private Sale, more development and marketing
PreICO, DAO construction
ICO, Token launch, wallet release, apply to exchanges
DAO testnet, Mobile Wallets, Seek Partnerships
DAO mainnet online, Masternode announcement
Fully Functional User Interface Released, Mainnet improvements
Devcon, Acquire More Partnerships
Receipt Verification/Tax Incentive Utility/LED Token Development
Expansion of Terawatt’s LED Ecosystem
Meet The Amazing Team
For more information, please visit the links below:
Author: Tosin David
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1180815