4new.io blockchain based ecosystem whereby energy produced by power plants, renewable or non-renewable or Waste to Energy technologies, is applied to a digital asset, digital protocol or a smart contract for delivery to cryptocurrency mining farms. The digital asset or the smart contract would act as a measure of the amount of electrical consumption to generate 1 unit of the respective underlying cryptocurrency mined. 4new.io power plant performs as a master node whereby the entire electrical output of multiple power plants flows within a centralized or decentralized public ledger flowing the value of electricity to various mining farms globally.
Cryptocurrencies global market capitalization has surpassed $500 billion USD rising over 2000% in 2017. 4new.io trend is expected to continue for the foreseeable future as businesses increasingly embrace the elegant design and transparency the blockchain offers to all. However, as of March 31 2018, Bitcoin mining energy intake has officially surpassed the entire energy consumption of the country of Singapore, which ranks 43 globally in regards to energy consumption. As the difficulty of mining increases to reflect the influx of miners joining the network, this energy consumption will increase. The most astounding aspect of this is that the rate of expansion is exponential. At the current rate of consumption, next year Bitcoin mining will consume enough energy to be listed as the twentieth country in the world by energy consumption
4new.io is the world’s first eco-friendly, tangible, blockchain ecosystem powered by waste to energy power plants. The concept is quite simple, the process of refining waste product into water and organic materials creates energy and that is then leveraged to either be sold to the national grid or applied to operate mining processes at an onsite mining farm. The cost to produce the energy is met through the revenue generated from the waste collection services and sale of byproducts facilitating a sustainable operation at breakeven or a marginal profit. Therefore, the 4new.io energy produced is unencumbered and freely available for utilization or sale to the national grid.
The KWATT Coin will represent a certain hashing capacity per coin. This concept is not new; Companies such as Giga Watt have offered similar mining items for lower costs, however, KWATT Coin is extremely unique in scope. 4new.io do not charge energy fees for mining, the only cost to a coin holder is the cost of the coin. This means that a coin holder will be able to mine all cryptocurrencies for the lifetime without spending an additional penny for their energy bill. The energy is free to 4new.io, so it is free also to the coin holders.
Electricity is an intangible commodity. Nevertheless, it is not practical or feasible to scale access to electricity globally due to its dependence on tangible infrastructure that tends to be localized and dependent on jurisdictional laws and local supply-demand economics. With the advent of the blockchain technology, for the first time in human history, 4new.io have the ability to scale a localized, intangible commodity such as electricity, globally. Historically, power providers would structure Power Purchase Agreements with large consumers of power such as factories or manufacturing lines. This would allow the consumers of power to negotiate deeply discounted prices due to the collective bargaining strength of their unique vantage point.
How can Token Holders of KWATT profit?
All the available 4NEW tokens will be equal to 1 KW of electricity. 4NEW aims to offer token holders the choice of utilizing their tokens to buy mining power on their own mine farm and also to be sold back to the UK national grid.
The approximate return for selling to the national grid is only $0.05 in contrast to an estimated $0.2 per KW if it is utilized for mining. It makes it seem like an easy choice.
Each year, 4NEW token holders will then be compensated by a section of the company’s net revenues. It will depend on which option they choose.
It is assessed that each 4NEW power plant will last at least 50 years if you factor this in a pessimistic estimate as the tokens worth would be more than $6. On the other hand, valuations of tokens can vary very much in the cryptocurrency market.
Extra Token Usage
The KWATT token has a clear use on the platform, dissimilar to several of the current ICOs. The team behind the project states that they want the token to also be utilized for several types of transactions also. They've already set up deals with some large companies and offered more uses for the token:
- 4NEW Mining farm: The project will also have its own mining farm. Token holders will be given the choice of either mining or selling their electric to the national grid.
- Money transfer: Two money transfer companies that own a combined turnover of $25 million monthly will also add the new KWATT token to their platforms.
- 4NEW Licensed pharmacy: A US Pharmacy company that processes $24 million yearly sales also plans to accept the new token for purchases on their website.
- 4NEW Insurance company: Plans are there to offer the token as a payment method for an insurance company that has more than 90,000 customers.
4NEW ICO Details
- Total tokens for sale: 300 million, any unsold tokens will be burned.
- Type of token: ERC20
- Token Sale end date: 31st January
- Price: 1 ETH= 2010 KWATT at present
- January 31st: End of ICO unless the 4NEW hard cap is reached earlier.
- Quarter 1 2018: Buying 3 new sites for the power plants in the UK. Start of development for the platforms’ own blockchain. Beta testing the new KWATT token with service providers.
- Quarter 2 2018: Start of installation of the 4NEW waste to energy plants on all 3 sites. Blockchain integration with the new smart meters.
- Quarter 3 2018: Initial marketing to attract customers to the 4NEW services. Developing relationships with businesses with access to large quantities of waste.
- Quarter 4 2018: Installation of the 4NEW waste plants completed.
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