Electrical energy is a basic necessity in this technological world. Energy can be generated from dams, wind mills, burning of fossils and more recently, biogas. Burning of fossil is the commonest way of generating energy but unfortunately, it is one of the major causes of the ozone layer depletion leading to greenhouse effect. This kind of environmental pollution does not create a healthy atmosphere for mankind to live in and therefore must be stopped. We produce a lot of waste in our households every now and then. Fortunately, technological advancement has made it possible to convert these wastes into electrical energy.
There are so many ways of earning in the cryptocurrency community. Some do investments, others participate in bounty programs while those who are more technological inclined also mine the coins. The electrical devices they use for these mining activities consume significant amount of electricity. The more valuable the coin, the higher the energy for mining it. So, you can imagine the amount of energy that the higher coins like Bitcoin and Ethereum will consume. It will surprise you to know that, as at March 2018, the energy consumption by bitcoin mining alone surpassed that of the whole Singapore. Imagine the rate at which cryptocurrency is gaining acceptance by the mass and if all these coins are going to be mined in the near future, then what will happen to our global annual energy consumption.
4NEW team sat down and thought about all these challenges and has come up a brilliant idea to solve these together from a common angle. They will be taking aadvantage of the rubbish that is polluting our environment, to create wealth for the people. The first plant that will be launched is going to generate 10 megawatts of power per hour which they are hoping to increase its output capacity to 40 megawatts of power per hour after some time.
The funds generated from their crowdsale will be their startup capital for the energy production while they will be relying on the revenue generated from the waste collection services and selling of byproducts such as fertilizers, organic materials etc., to cater for the expenses on the plant, which does not directly contribute to the project. In this way, the electricity generated will be free for users on the network. This will in a way reduce pressure on the global energy supply and also make mining more economical. Imagine mining to earn some good amount of coins and not being charged for the electrical energy used.
ABOUT THE KWATT COINS
It will be the official coin on the network which will be used for transactions. A total of three hundred million coins will be supplied with each KWATT coin representing an annual supply of 1 kilowatt of electricity within it. No additional tokens will be generated above the amount supplied during the initial coin offering and any unsold token will be burnt. Holders of the KWATT coin, will be able to stake their tokens on the network allowing consumers of power to utilize the staked coins in order to process cryptocurrency transactions.
This whole idea came from a group of generational thinkers who have Varun Datta as the founder, Sandeep Golechha – Chief Executive Officer, Peter Teasdale – Chief Operations Officer, Barnaby Andersun – Chief Marketing Officer, Madeleine Teasdale – Business Development.
4NEW has come to give power to the people, so let us all give it the maximum support and make this wonderful idea a reality
You can visit the following links to learn more about us:
Bountyhive username: Dacosta