What is Bittwatt?
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. 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 that 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.
Bittwatt enables fast, transparent and trustworthy settlements between market participants. Based on consumer profiles, Bittwatt matches demand with market offers at every hour of every day.
SMART DEMAND-RESPONSE SUPPLY
Bittwatt uses artificial intelligence in order to learn and adapt to what the grid is telling it. It enables a demand-response system that streamlines supply for all parties, from power plants to smart consumers.
Bittwatt integrates regulatory information and data shared between energy suppliers, grid operators and smart consumers – bridging the broader software ecosystem and real-world businesses.
THE BITTWATT ECOSYSTEM
BLOCKCHAIN WILL REVOLUTIONIZE HOW WE HANDLE ENERGY
The Bittwatt platform as well as its app suit are built from bottom-up into a robust structure,combinining the need to measure the energy output, whilst measuring its price. Therefore Bittwatt enables the following:
A secure multilateral framework for international energy cooperation (in areas such as production, conversion, transportation, distribution, transaction settlements based on smart contracts, and use of energy).
ENERGY ARBITRAGE AND EXCHANGE
With their energy wallet the users can leverage their energy storage capabilities by buying cheap and selling at peak prices with the use of the Bitwatt online cryptocurrency, exchange and trading system.
A single cross-border European charging network for electric vehicles tat enables smart consumer identification and Bittwatt wallet settlement.
Marius Posa - Business Developer for East Europe
- The energy market settling system is very difficult to replace, but it definitely requires improvements and is a multi-billion opportunity for the successor
- The project team has relevant experience and skills in the field of energy markets and trading systems. The white paper shows good understanding about the energy market sector
- The project has pretty good community outreach
- The project has relevant local energy company partners in the current market areas of Romania, Bulgaria, Macedonia, Serbia and Hungary
- All team members’ commitment levels could not be verified
- Replacing the current European energy trading system is a huge effort that requires a lot of negotiation power and multidisciplinary activity. Managing such a complex transition process has many implementation risks
- The ICO team has to work hard to increase the visibility of the project
- Having enough relevant software and mathematical model development expertise in the team is necessary to ensure the scalability of the transacion system in the blockchain