Abstract: KWHCoin is the native token for a decentralized application where prosumers, consumers and other distributed energy resources can connect and configure their energy resources. The KWHCoin is a digital currency backed by a kilowatt hour of electricity that aggregates the energy usage data of distributed energy resources. Any upstream value generated will automatically pair to
a digital wallet and payment is valued and dispersed in KWHCoins.
The KWHCoin represents a kilowatt hour of deliverable energy output or equivalent that was generated and distributed as part of work that occurred on our platform. Conceptually, the KWHCoin is a blockchain based solution for a cost effective and network incentive-based structure to help shift from fossil fuels to efficiency and renewables. We intend to apply blockchain as a liberation technology, enabling access to renewable energy from local distribution sources, and to unlock value at the edges of the grid for those who choose to make environmentally viable choices.
The aim of the project is to add value to the emerging internet of energy, based on these principles and overall strategy:
- Serve as a baseline incentive and compensation model to lower the cost of solar and encourage investment in distributed energy resources.
- Leverage blockchain as a liberation technology to lower barriers and give renewable energy access to the 1.2 billion globally without electricity. 10% of all funds will go directly to fund Microgrid development and off grid technologies in Africa, South America, the Caribbean, and Southeast Asia.
- Building decentralized localized networks of renewable energy generation, minimizing transmission costs and carbon intensity in the energy transmission process.
- Develop a viable business model for a Net-Zero Energy marketplace with an open-source platform and database with peer-to-peer capabilities and without the requirement of a third party. This will give consumers independence and the flexibility to choose an energy source that is 100% renewable.
- Enable citizens to contribute and benefit from the green economy and directly reduce carbon emissions by digitizing all energy-related operational activity.
- Peer-to-Peer transition model that unlocks value at the edges of the grid. This will empower prosumers and all network participants to receive maximum leverage in a network setting for their contributions in a green economy.
The purpose of this paper is to explain the function of KWHCoin as an alternative digital currency while outlining the function of its mobile and desktop applications. This paper explains the organizational structure, technical specifications of the project and details the project’s mission to deliver clean, reliable energy to a global decentralized network and serve as a baseline compensation mechanism for the emerging internet of energy.
KWHCoin is a digital currency backed by an equivalent measurement of deliverable kWh output from network
participants. Network participants leverage data, smart meters, sensor readings and Green Button data to
produce this output. The output is then tokenized to create digital assets on the blockchain.
KWHCoin has been developed for mass adoption
and is designed to become the leading digital currency
for the emerging Internet of Energy.
What separates KWHCoin from other cryptocurrency projects in the renewable energy sector is that our focus is on the “grid’s edges”. We define the “edges” of the grid as smaller distributed energy resources, such as solar panels in the residential market, electric vehicles, microgrids, wind farms and demand response technologies, to name a few. These comprise the elements for a new two-way generational model of energy distribution. This presents a great opportunity for local communities to directly participate in the renewable energy economy.
The Grid is a mobile and desktop application that serves as the open source database of energy transactions for
network participants. KWHCoin is the digital currency that provides the medium of exchange for transactions on
The Grid platform.
The Grid consists of a decentralized global community of peer-to-peer clean energy prosumers,
consumers, environmentalists, clean energy advocates, renewable energy providers and industry professionals. All
community members will contribute their collective distributed energy resources to assemble a global and virtual clean energy cooperative.
The core technical offering is a mobile and desktop application
for use on web, Android and IOS.
The Grid features an open ecosystem with Application program interfaces, (API’s). This enables
developers and entrepreneurs to develop more applications and service offerings, as network
participants. The purpose of The Grid is to model a new and dynamic energy company of the future.
In addition, The Grid aims to build a social impact platform to advocate clean and affordable
electricity for all.
KWHCoin is a digital currency that converts the data of distributed energy resources to digital tokens on a blockchain. These distributed energy resources will be received from solar power generators, solar communities,
microgrids, electric vehicles, energy storage, wind energy, and hydroelectric power generators. All distributed
energy resources that are used to convert to KWHCoin are generated through 100% clean renewable energy.
We are building an application that will provide the platform for network participants to trade, exchange, donate
and democratize the value of two-way generation to the electricity grid. Our virtual power company will be peer-to-peer and will use the internet as a digital rail to deliver clean, localized energy to all members of the network, without the need of a trusted third party or centralized grid in our conversion process. We will not use any forms of energy that come primarily from fossil fuel production.
The KWH team will leverage blockchain technology and the use
of smart contracts to build a decentralized network of
distributed clean energy resources.
The Grid network uses software and cooperation between peers to provide a global virtual power company. It will not require central authority or a trusted third party. The execution of power generation, its distribution, and delivery of clean electricity will be fully decentralized. We are building a global, borderless, peer-to-peer, virtual power grid. Hence, no barriers to access and a zero-carbon footprint, in relation to the generation of energy.
The total supply of KWHCoin and its rate of issuance will be decided by the scale of assets that created, based on distributed energy resource generation. The results below are subject to change based on final input from the Board:
- 195,000,000 KWHCoins will be created to start this decentralized peer-to-peer energy economy
- 19.5 million KWHCoins will be used to fund the building of microgrids and developing off grid technologies in Africa, Puerto Rico, South America, Southeast Asia and the Caribbean
- 50,000,000 KWHCoins for Founders and Partnerships with Social Impact organizations to build local sustainable economies
- 101,169,000 KWHCoins will be publicly released the end of January for public Initial Coin Offering
PROOF OF CONCEPT
We are partnering with PATH, an organization committed to ending homelessness for individuals, families, and communities. KWHCoin has connected with 10 local businesses that will accept KWHCoin as currency in exchange for goods and services.
PATH members will receive KWHCoins for their recycling, street sweeping, and other circular economic efforts, providing the framework for us to build a local, digital economy with cryptocurrency. KWHCoin is exploring other use cases.
PATH (San Jose) http://www.epath.org/site/PATHSanJose/index.html
As the world’s poorest begin to gain access to global markets,
KWHCoin aims to provide access to clean energy markets to
anyone with a smartphone or computer.
We will build the energy profiles necessary to connect microgrid developers, clean energy advocates, humanitarian workers, and others in order to deliver rails of energy to underserved populations globally.
Volunteers and Community Members We are all global citizens and this is a global project, so we’re hoping that all walks of life interested in an independent energy future and contributing to the goal of powering the world will join the KWHCoin platform. For more information go to WHITEPAPER.