As you might have guessed from the heading, we will be talking about Watts, more specifically about the light bulbs. KICKICO presents a dynamic Blockchain startup.
TeraWATT claims to be a patent-pending, environmentally friendly organization with a powerful business model. One that provides monetization and revenue while doing great things for very deserving people.
Utilizing Blockchain Technology TeraWATT desires mass global adoption of efficient and effective LED Lighting.
LEDs? What are those? And what are the benefits?
LEDs are low energy light bulbs which use less than 20% of the energy of a conventional light bulb and can last up to 15 times longer. LED’s have the potential to fundamentally change the future of lighting in the world.
The Benefits of LED are enormous:
- 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
Blockchain and Watts?
But why use blockchain, KICKICO team is curious to find out:
As explained by Morris Layton, an executive at TeraWATT:
Blockchain technology is the key component of the entire structure of Terawatt. It is necessary to track all client data, carbon credits, tax incentives, and to power the DAO.
When asked about the potential challenges, here is what the team has to say:
Like others in this industry, the biggest challenge we are facing is the bearish market, believes Layton. TeraWATT is optimistic and is sure to carefully plan their steps, reevaluating when required, and ensure continuous development.
Here is a problem:
Inefficient light bulbs have a dual problem in that they create unnecessary greenhouse gas emissions while generating terribly exorbitant electricity bills for individuals, businesses, and governments.
Here’s the TeraWATT solution:
Utilizing Blockchain Technology… TeraWATT, desires mass global adoption of efficient and effective LED Lighting. Once installed in residences, office buildings, and facilities worldwide, customers will have instant access to applicable tax rebates, search for tax credits, and then securely store their purchase data on the network for later use in filing taxes. Participants can buy, sell, stake, donate, or hold LED tokens, which will power the Terawatt Ecosystem.
DAO Fund Economic Model
What’s more, TeraWATT has initiated the “DAO Fund Economic Model”. For those who are familiar, the DAO is now the biggest crowdfunded project of all time. In simple terms, the DAO is a self-running company. It has no directors, no managers and no employees — at least not in the conventional sense of the words. DAO stands for ‘Decentralised Autonomous Organisation’ and it’s powered by Ethereum.
The TeraWATT token will also be used as a payment currency. TeraWATT Team believes the following factors will support the token growth:
- The Terawatt token supply will rapidly and exponentially decrease with a continuous coin burning algorithm.
- Demand will be increased through marketing and growing adoption. Utilities and businesses will want to accept it it’s much more deflationary, secure and private than FIAT.
THE DAO DECENTRALIZED AUTONOMOUS ORGANIZATION FUNDING PARTICIPANTS;
DAO FUND: All token Holders are eligible to join the DAO with 1–2% entry fee. (50% to burn the supply and 50% distributed to DAO Fund)
VOTING: Token Holders in DAO FUND can vote to dictate which direction token development goes and how funds are allocated
RETURNS: Revenue from bulb sales, data storage fees, carbon credits, tax rebates, and donations will be redistributed to increase token value.
EXIT: Token Holders have the option to exit with a 1–2% exit fee (50% to burn the supply and 50% distributed to DAO Fund)