Bittwatt is a professional matchmaking platform that connects all energy market players from DSOs, suppliers, producers to consumers (domestic, industrials or EV) and provides a standardized blockchain protocol for trading. 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 enables fast, transparent and trustworthy settlements between market participants. Based on the contract defined by each consumer, Bittwatt matches the hourly demand with the offers.
Bittwatt token functionality:
- Payment: for the trading products and services offered by Bittwatt
- Escrow: securing the settlement between producer, supplier and consumer as a binding agreement
- Protocol foundation for the development of tokens used within certain geographies.
Bittwatt’s role is to standardize all of the steps of a transaction, leading up to the payment, and to provide accurate and consistent data for the settlement. The main purpose is to reduce the cost, settlement risk and operational risk of clearing and concluding multiple transactions among multiple parties. Global Bittwatt Value Chain projections is correlated with the quantity of energy supplied over the platform – when the traded energy volume grows, the token value grows along. The total token volume is 400 mil. BWTs, corresponding to an estimated value of 0,12 $/kWh/BWT.
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