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Bittwatt is adopting blockchain technology to create a market place for efficient and Reliable power distribution



Globally electric power availability is one of the factors that drive economic growth. Accessibility to electric power by industries and for households you drive industrialization and urbanization. Electricity is generated from both renewable and non-renewable resources. However, statistics show that globally, the highest percentage of electricity is generated from renewable resources. Other means through electricity is being generated include the nuclear power plant and through fossil fuel which shows that the energy sector has diverse from non-renewable sectors to a renewable source (e.g. hydropower) that offer higher share for already established market consumption. Recent technology being adopted in some continent such as Africa includes generation of electricity through the solar power grid.

However, despite the diversification of energy sector, energy sectors still face some serious challenges which include the ability to maintain a balance between different mean through which energy is being diversified (from both renewable and non-renewable). Development, maintenance and Supply of infrastructure for the gas plant are another challenge that affects energy sector. Others include the energy efficiency and household heating. Energy market distribution is facing similar problem and most time the consumers are the one at the receiving end of this problems. Electricity distribution is being centralized which means consumers do not have the option to choose any vendor they want.

Bittwatt is reacting to this problem by adopting a decentralized approach which is completely simple and transparent by creating a platform which is design to offer an actual value for every consumer in the ecosystem. Bittwatt platform is ready to endow electricity consumers to exploit the very best energy supply which is available within the ecosystem. This will offer electricity consumers the marketplace which is totally fair and more transparent since it is being facilitated by the blockchain technology.

Readers might be wondering what difference bittwatt will make compared to some traditionally regulated marketing company that handles electricity distribution. The problem bittwatt will solve are many but the most important one will be discussed in this article. If you are a direct consumer of electricity you will understand that the existing energy network is developed round the exchange of unstructured information which means that different type of paper documents are used to trade electricity which might lead to higher charges. Through the bittwatt platform, the owe process is well structured and all data and transaction are kept save within the blockchain. Traditional marketers do not provide market where consumers can trade unused energy that is being supplied and they cannot choose suppliers the way they want. Sometime consumers must hold on for at least 15 days in order for them to change their supplier. These entire barriers will be taken care by bittwatt. Bittwatt is working towards offering a new and cost-effective energy marketplace which will be accessible to everyone (producers, suppliers, traders and consumers).

Bittwatt offer investor opportunity to participate in the initial coin offering (ICO) through which contributors are awarded token equivalent to the amount purchased in BTC, ETH and COSS. For further detail about the bitwatt token sales and information on how to participate, you can visit the bittwatt website https://www.bittwatt.com/ or read the whitepaper https://www.bittwatt.com/#whitepaper. For further information kindly visit the Telegram page: https://t.me/bittwatt Facebook: https://www.facebook.com/energyforthe21century/ Twitter: https://twitter.com/BittwattPteLtd.

This article is written by
thesmallgod
https://bountyhive.io/r/thesmallgod

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