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.
Main uses of the BWT token include, but are not restricted to:
• Payment for the products and services offered by Bittwatt;
• Settlement between produced and consumed energy for prosumers. Producers of energy also consume it by being part of the grid so we are balancing their consumption based on how much they pump in the grid against how much they take out;
• Foundation for the development of tokens used within certain geographies. We are aware that some of the countries using our platform need a currency for their internal trading flow. Therefore, based on BWT, new tokens will be built.