boyambon07: Terawatt - Global LED Adoption Through Blockchain Technology

Website - https://terawattled.com/

Nowadays, we all need light especially in our everyday life. When you're in your house or in your room, when goin outside, in the streets, and even in school or in office. Light is the most important of it all.

But the price and the consumption of energy of what were using in our light bulb is consuming so much energy and it cost much. We all need to save energy and money at the same time.

Well thanks to TERAWATT

a patent-pending, renewable energy blockchain startup, with a strong focus on monetization and driving global L.E.D. adoption.

So what is LED

Light-Emitting Diode ( LED ) is a semiconductor device that emits light when an electric current is passed through it. Light is produced when the particles that carry the current ( known as electrons and holes ) combine together within the semiconductor material.

LED is more cheaper than the other light bulvs in the markets nowadays. You can also save energy consumption when you're using LED, your electricity bill won't go up. People can save money especially those who have their businesses.

Terawatt's Goal

Leverage blockchain technology to help reduce global lighting electricity consumption 50 percent ( roughly 2000 Terawatts ) by 2035, while also increasing light output by 50 percent. 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.

Our Mission

This is due to our continuous coin burning algorithm. 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. This will further increase token value due to the network effect. ( Metcalfe's Law ).

The Lighting Problem/Solution

Inefficient light bulbs are creating both unnecessary greenhouse gas emissions, which contribute to climate change, and unnecessarily exorbitant electricity bills for peoples and governments. Terawatt will help to fix this problem by

driving LED adoption

LED lighting solutions have never been more accessible or affordable than now. With multiple rebate programs and incentives, more cities are making the switch to LED street lighting. And why wouldn’t they? As we all know by now, LEDs are energy-efficient and long-lasting which means huge savings on the energy bill as well as reduced maintenance costs. But what about the other benefits? Such as reduced crime rate, safer neighborhoods, and overall perceived improvement? These are all benefits that LED street lighting can offer compared to the orangey glow of the high pressure sodium (HPS) street lighting still illuminating most of our streets and neighborhoods.

Why do we need blockchain?

To create an immutable, decentralized, secure, private (zk-SNARKS) deflationary currency with utility functions
We need complex smart contracts to power the D.A.O.
We need Transparency, Immutability, Decentralization and verifications of all transactions performed on the platform
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

The Features LED Token Utility

LED Incentives

Terawatt Token will act as a rewards system for each L.E.D. bulb purchase that's verified by our patent-pending process. This serves as an incentive for users to purchase LEDs for home, businesses, or government use and verify them through our interface

Data Storage

LED purchase records may be securely stored in the Terawatt ecosystem. This allows the purchasing entity to return at tax time and have all of their LED and other Energy Star Rated Purchase records readily available. The user pays a small token fee to access the records again.

Community Based Governance

Donated funds may be locked into a pool, and the global Terawatt community will vote/decide on what projects get funded and how much funding will be provided or set on the side for these projects.

Masternodes

We aim to have Masternodes when the Ethereum Blockchain allows for it. Masternodes will help to further secure and decentralize the Terawatt network.

The DAO

Decentralized Autonomous Organization Funding

Why L.E.D.?

The Benefits

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

HPS vs LED

LEDs Vs CFLs and Incandescent Bulbs

Most people and businesses understand LEDs are more efficient, can reduce their electricity bills, and are generally better for the environment. However, most LED buyers are not aware they could have utilized local city/state tax rebates to reduce the purchase price by 50-80 percent, and also that they can apply for a tax credit at the end of the year ( as always, consult with your local tax professional ). Take a quick look at the table below:

While prices for LED light bulbs were astronomical just a few years ago — upwards of $100 for one bulb — you can now pick up a cheap, 60-watt-equivalent LED light bulb for less than $5. They will become even less expensive as technology advances. Incandescent light bulbs are being phased out: An almost complete ban on their sale started in 2014 and will take full effect in 2020. Simply put, they waste a lot of energy and don’t last very long. Even though CFL’s are better than incandescents, LEDs are the superior option in every area. Modern CFLs also contain a small amount of mercury, which is very harmful to both your health and the environment. That means it’s bad news to break one (here’s how to clean it up safely if you do), and they shouldn’t be disposed of in your regular household trash (here’s how to recycle them ). If these bulbs are not properly disposed the mercury could contaminate groundwater which we use as a source for drinking water. This is just some of the severity we face if CFL’s are not properly disposed.

Token Description

Our project will use Ethereum to issue and create tokens mainly because it has the base foundation that our technology will implement. Terawatt will manipulate the blockchain smart contracts. Our token will be a standard ERC20 token with some specific modifications. Our 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.

The Features