Short description
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.
Abstract
We envision a world of smart-consumers in a sustainable energy system with minimal costs for all parties. Our mission is to be the first international platform to integrate and facilitate cooperation between all market operators for the benefit of the consumer.So as to achieve these, we are committed to: creating a blockchain enabled energy trading market that is simple, transparent and delivers more value to all its users; expanding globally (London, Bucharest and Singapore being already under development). We are now changing the way we operate electricity systems by building a smart, flexible system that makes the most of all energy sources and enables us to exceed our customers’ needs in a balanced and financially efficient ecosystem that learns and evolves. For this purpose, we have started developing a new marketplace for electricity balancing and trading – which is blockchain enabled - that incentivizes producers and opens up competition on a level playground. We aim to deliver this completely new and highly cost-effective energy ecosystem fully by 2022. The platform will be accessible to everyone in the industry – regardless of size – running new technologies alongside industry standard applications. This market framework is designed to empower users (producers, suppliers or traders) in applying balancing processes, and requires little intervention from Bittwatt as a System Operator (SO).