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Energy Web Token: This project has crazy connections

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This page will be constantly updated with any news or updates on Energy Web Token. Consider bookmarking or subscribe to the newsletter to get this and other updates, for FREE.

What to expect in this article?

  • What is Energy Web Token?
  • What problem does the Energy Web Token project solve?
  • Uber for Energy? Energy as a Service (EaaS) could disrupt the entire industry
  • Advantages of EaaS
  • Elon Musk, Tesla and Energy Web Token connection
  • Energy Web Token Road Map and Future
  • Who is behind Energy Web Token?
  • Energy Web Token on social media
  • Where to buy EWT?
  • Conclusion

What is Energy Web Token?

Energy Web Token reviewEnergy Web Token is the native utility token on Energy Web Chain. To understand the role of Energy Web Token, we have to first dive into the Energy Web Chain.

Energy Web (EW) Chain is “a global blockchain infrastructure that we believe to be the only public, Proof-of-Authority blockchain supporting commercial applications with well-known organizations as validator nodes.” 

The validators on the EW Chain are globally renowned companies in the energy sector making this one of the most legitimate projects out there.

The Energy Web Token (EWT) is used for two main purposes on the EW Chain: Security & validator compensation:

What problem does the Energy Web Token project solve?

Everyone wants to help with the energy crisis situation by reducing the carbon footprint, using renewable energy and have their energy cost reduced, however, the options to accomplish these platitudes are scarce and ineffective.

We are seeing a lot of local renewable energy grids, including solar powered and wind power solutions, making their way to the market. However, there is a disconnect between these local grids, regulatory bodies and customers.

Energy Web Chain is looking to solve this problem by providing a platform to integrate the regulators, grid operators and individual customers to take part in the renewable energy movement.

EW Decentralized Operating System (EW-DOS) provides public access to the EW Chain and ready to use Software Development Kits (SDKs) making on boarding easier and barrier less.

This solution could help fuel trillions of dollars in commerce, “in the next ten years, electricity end-users will spend a cumulative $830B on distributed energy resources and $7T on electric mobility.”

Here is a quick video to understand Energy Web Token project overview:

What is Energy Web Token? Is Elon Musk involved?

We bring amazing facts about the CEOs, executives, projects and great personalities from the Blockchain and Crypto space to you through these videos. Subscri…

Uber for Energy? Energy as a Service (EaaS) could disrupt the entire industry

ewt windmill

Uber disrupted the way we travel.

The solution launched by Energy Web Token could upend the entire energy industry by encouraging people to produce their own energy through solar, windmills, storage, etc., and sell the excess energy to the bidders.

Can you imagine the implications of having millions of microgrids selling few units of electricity much cheaper than the traditional options?

Energy as a Service may be quite difficult to comprehend right now, however, Uber was a concept that was not even conceived until the app made it easier to ‘use’ in daily life.

EW Chain has the potential to make exchanging energy from local grids to local consumers much easier.  It also provides an opportunity for the end users to become producers of energy in some places (like South Australia or places where sun and/or wind are plenty).

Advantages of EaaS

Reduce carbon footprint

Successful execution of EaaS vision could reduce our carbon footprint on the planet drastically.  We have sun, wind and moving vehicles all over the world, and if we are able to generate and distribute energy from these sources, we will no longer have to rely on fossil fuel or nuclear sources.

Democratize & Decentralize energy

Right now, in many parts of the world, energy is monopolized or is hoarded by the big corporations who can charge any markup as they deem fit based on demand and supply. If people start generating electricity by installing solar panels and windmills on their rooftops, it could make households self-sustainable.

Monetize energy

Not only can EaaS help households become self-sustainable but it also has potential to bring revenue to everyday folks by turning them into micro-local grids.

Make energy and everything cheaper

When energy is democratized – it will become affordable. When the energy costs go down – production costs go down and that is a great thing for everyone.

Could avert big national security threat

If you have watched the Live Free or Die Hard movie, you may realize what happens if power is shut down. In theory, the power grids can go offline. India went into darkness for 2 days (the largest power outage in history).  Beyond the inconvenience, it could pose a national threat. Most of our food reserves are in storage that need power. Our food in refrigerators that go bad without power and every communication line needs power.  A power outage could cripple the entire country and the world.  However, when energy production is completely decentralized – no one person or entity can shut it down.

Elon Musk, Tesla and Energy Web Token connection

Elon Musk EWTThe Verge ran stories in 2017, 2018 and 2019 about Elon Musk’s project (in collaboration with the Australian government mind you) to solve Australia’s energy crisis through renewable energy.

The 2017 story talked about how Elon Musk’s giant battery is powering South Australia.

The 2018 story alluded to how the WindMill powered battery project was projected to power over 50,000 homes in four years.

The 2019 story takes it one step further where a reporter visited South Australia where Tesla’s batteries and solar panels were helping ordinary folks to generate their own electricity.

The South Australian government was pepped up about the success of the pilot and they were devising plans to rollout the program to more residentials.

What happens when these households produce more energy than they need? 

Tesla was ahead of the curve to think through this aspect and it launched Autobidder.

According to their official websiteAutobidder provides independent power producers, utilities and capital partners the ability to autonomously monetize battery assets. Autobidder is a real-time trading and control platform that provides value-based asset management and portfolio optimization, enabling owners and operators to configure operational strategies that maximize revenue according to their business objectives and risk preferences.”

This is where things get interesting.

Grid Singularity official channel tweeted about Tesla’s Autobidder and Grid Singularity is directly involved with Energy Web Chain.  And, on May 4, 2020, Grid Singularity tweeted this.

Grid Singularity on Twitter

Energy resources with trading strategies for a bottom-up, optimal market empowered with https://t.co/5xZ0X2l7Fm! Check out @Tesla’s Autobidder: https://t.co/xnfRTlQMJO

These connections of Elon Musk and Tesla with the renewable energy along with Autobidder which has been promoted by Grid Singularity prompted the notion that Tesla and Energy Web Token may have some underlying connections (and potential synergies).

At the time of this writing, no official statement has been yet released confirming these speculations.

Energy Web Token Road Map and Future

Energy Web Foundation’s vision is to impact the energy sector at scale. Their broad vision for future includes three main aspects:

ONE: EW-DOS makes it possible to build private and/or proprietary solutions on top of open source software and a public, decentralized network

TWO: EW-DOS is market and regulation agnostic

THREE: EW-DOS is not a “use case” or an “application”; it is public infrastructure that supports companies that want to build solutions

EWF is already working in Europe and Thailand. The solution will be available for everyone to build on.  

Who is behind Energy Web Token?

Before we look at the profiles of members involved with EW Chain, let’s recap the various pieces of this project: 

Energy Web Foundation: “Energy Web Foundation (EWF) is a global, member-driven nonprofit accelerating a low-carbon, customer-centric electricity system by unleashing the potential of blockchain and decentralized technologies. EWF focuses on technology integration and development, co-creating standards and architectures, speeding adoption, and building community.”

Energy Web Chain: The blockchain platform itself

Energy Web Decentralized Operation System: “a secure, open-source, shared operating system for the 21st century grid. It is a stack of software and standards, including the Energy Web Chain, that will enable market participants to digitally orchestrate low-carbon electric systems.”

Decentralized Autonomous Area Agent (D3A): Platform that facilitates for the bidding of energy from producers to end users  

EW Origin: “a modular portfolio of toolkits [SDKs] for developing state-of-the-art trading and tracking applications for energy attribute certificate (EAC) markets”

Energy Web Token: Native Utility token on EW Chain

Members involved

The profile of companies that are involved with the EWT project is one of the most impressive. There are brand names like GE, Shell, Tepco, Duke Energy, Wipro, Swiss Power, etc., that need no introduction.

WET partnerships

Source: Whitepaper

Here are some recent partnerships that were not in the whitepaper:

Vodafone: Number 465 on Global Forbes 2000 and number 67 on Top 100 Digital Companies list. “Vodafone Group is one of the world’s leading technology communications providers, connecting people and organisations of all sizes to the digital society.” Vodafone is partnering will “combine SIM-centric blockchain technology (SCB) with IoT connectivity from Vodafone Business to create secure IDs for energy assets. This means that renewable and distributed assets like wind turbines, batteries, heat pumps, and solar panels can be integrated with energy grids safely and efficiently.”

Energy Web Token on Reddit | Twitter | YouTube | Telegram 

As of this writing, EWT has following presence on the social Media:

Reddit: 176 members | Energy Web Token Reddit link

Twitter: 5302 Followers | Energy Web Token Twitter link

YouTube: 328 Subscribers | Energy Web Token YouTube link

Telegram: 1511 members | Energy Web Token Telegram link

CoinmarketCap:  https://coinmarketcap.com/currencies/energy-web-token/

Where to buy Energy Web Token?

For those interested in purchasing the Energy Web Token, here are the exchanges that have listed the EWT as of this writing:

Conclusion

The Energy Web project is quite ambitious. We can see the potential of companies like Tesla getting onboard in future.  

Beyond the partnerships, members and ‘price to the moon’ predictions, we see a project that is laying the foundation for a major disruption in the energy industry. 

If EaaS comes to fruition as visioned, it can help the world as a whole to reduce our carbon footprint while democratizing energy in the hands of the common public.  

This is an exciting project in our point of view.

Bookmark this page as we will continue to update this page with future updates.

Subscribe to our FREE newsletter to receive weekly news digests, free eBooks, updates on projects like EWT and more!  We only send ONE email or less per week.

Elon Musk Image Source: “Elon Musk Dreaming of a Brighter Future” by jurvetson is licensed under CC BY 2.0

Thank you for reading and sharing this article. Stay safe and healthy!

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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What Are Smart Cities and the Role of Blockchain In Smart Cities?

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What Are Smart Cities and the Role of Blockchain In Smart Cities?

IT experts have designed smart cities to develop, deploy, and promote sustainable development practices.

Now, what are smart cities? 

A smart city is a framework mostly composed of Information and Communication Technologies or ICT to address growing urbanization challenges.

A considerable part of a smart city framework or an ICT framework is that it consists of an intelligent network of connected objects and machines. 

These machines transmit information through cloud applications and with the use of wireless technology. 

Cloud-based IoT applications receive, analyze, and manage all this data in real-time, which helps municipalities, enterprises, and citizens make better decisions. 

The use of smart phones and connected cars and homes citizens engage with smart city ecosystems. 

A way to cut costs and improve sustainability is to pair devices with the city’s physical infrastructure and services. 

With the help of a smart city framework, we can find solutions to many community problems. For instance: 

  • Traffic lights connected to cloud-based applications can receive data from sensors and cars. In return, light cadence and timing in response to real-time traffic can improve, which reduces road congestion
  • Parking meters and electric vehicles charging docks can communicate with cars to find the nearest available spot
  • With the help of smart garbage cans synced to waste management companies, garbage is collected and scheduled to be picked up when needed instead of the pre-planned schedule
  • Instead of plastic cards for driver’s licenses and ID cards, citizen’s smart phones take their place. In return, access to the city and local government services are speed-up and simplified

Together, smart city frameworks help in optimizing infrastructure, public service, utilities, and mobility.

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Why Are Smart Cities Being Built?

Urbanization is a problem faced by every country all over the world. 

According to statistics, 54% of the total population of the world lives in cities. The number is estimated to reach 66% by 2050. 

Over the next three decades, urbanization will make another 2.5 billion people migrate to cities, and to keep up with this rapid expansion, environmental, economic, and social sustainability is a must. 

Smart cities can provide such a framework to rely on.

Examples of smart cities  

AMSTERDAM SMART CITY:

A shining example of a well-connected smart city would be Amsterdam. The initiative of making Amsterdam a smart city began in 2009, and it includes over 170 projects. 

It sends traffic and transportation data to related parties such as developers who create mapping apps connected to the city’s transportation system. 

Due to this, navigating the city is simple and easy. The smart city infrastructure supports a floating village of houses, which helps with urbanization with a sustainable and eco-friendly alternative.

COPENHAGEN SMART CITY:

One of the smallest cities in the world, Copenhagen, is known worldwide for its mobilizing expertise. 

In collaboration with MIT, Copenhagen is leveraging open data to build an innovative bike system. 

Real-time data is shared to monitor and manage air quality as well as traffic congestion.

How Do Smart Cities Become Successful?

Along with people, dwellings, businesses, and traditional urban infrastructure, we will need four other essential elements to enable smart cities to succeed. The four elements are:

  •     Security that can be trusted
  •     Flexible monetization schemes
  •     Open information
  •     Extensive wireless connectivity

Risks   

Probably the most significant concern about smart cities is the danger of privacy breaches. 

Governments, businesses, and individuals spend millions of dollars on preventing leakage of data to outsiders, and as little as possible is shared. 

The key enabler of sustainability in smart cities would be the complex ecosystem that shares information and combines it in real-time. 

Only with the cooperation of multiple sectors can better and sustainable outcomes be achieved and to receive real-time contextual information, while making sure data is kept secured. 

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Role of Blockchain in Smart Cities

blockchainThe role of smart cities is to incorporate technology as the groundwork to take the edge off the problems that plague the current system. 

Examples of current smart city capabilities are universal identification (ID), green energy, water, pollution management, forms of transportation, wireless internet systems, and promotion of local businesses, to name a few. 

The ‘Internet of Things’ serves the current technology needs of smart cities; this term is used to define the integrated network of gadgets with planted exclusive identifiers. Examples include traffic management and e-commerce. 

A traffic management program called SCOOT improves green light time at intersections by providing inductive loop and magnetometer data to a supercomputer, in London, coordinating the traffic lights to enhance the traffic across the city. 

An astounding forty-seven thousand new jobs in Barcelona were created due to the implementation of a network of fiber optics that provides free and fast Wi-Fi, which supports the IoT and the integration of smart parking, lighting, and water management. 

In Amsterdam, the IoT-based infrastructure was tested by allowing traffic flow, public safety, and energy usage to be monitored and tweaked depending on real-time data. Moreover, cities like Baltimore and Boston have introduced smart trash cans that transfer information to determine the best pickup route for garbage disposal crew. 

India was the pioneer country to successfully enact a smart city project across 12 of its cities, in the year 2015. 

All of the above examples demonstrate the reliance on IoT infrastructure and blockchain can make IoT become more resilient and efficient.  

It is evident that Blockchain gives the groundwork for the management of transactions by providing security and transparency. 

Today many smart cities have a large scale Blockchain implementation or distributed ledger technology. 

By the next year, Dubai is aiming to become the first Blockchain-powered smart city in the world.

Since 2012, Estonia has used distributed ledger technology to keep records of its citizens. 

Companies like Hancom are the emerging suppliers of services and products related to IoT hardware for smart city development. 

The Hancom group will incorporate Blockchain technology to set up a 470-acre smart city development project in Gapyeong Malang Malang, as the basis for smart city development. 

This company also developed the 30-acre Augury Square in Atlanta, which will incorporate the use of cryptocurrency, pushing forward the usage of digital currency into the daily lives of its inhabitants. 

Information collected and kept in a cloud-based framework can be encoded by a Blockchain system to ensure the security of data in a smart city. 

Blockchain can be used for identification, for proof of citizenship, tax data, voting, to name a few. 

The elimination of paperwork in such a system helps to manage and reduce pollution in smart cities. 

Other services that can incorporate Blockchain in smart cities are: 

  •     Use of internet sensors to identify general repairs and road maintenance
  •     They connect to healthcare services for emergencies
  •     They are providing first responders with pertinent medical data
  •     Connection of residential utilities and rent to the Blockchain

Blockchain provides the framework to unite the services in a single system capable of tracking, security, immutability, transparency and above all SECURITY.

Thank you for reading and sharing this article. Stay safe and healthy!

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How Bitcoin and Crypto can liberate people to help each other!

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How Bitcoin and Crypto can liberate people to help each other!

I was watching this video about the atrocities of China and its authoritarian regime. 

Gravitas: Three Gorges Dam | China’s dam of doom | China floods | WION

China’s Three Gorges Dam is one of the most controversial infrastructure projects. The dam flooded 13 cities, 140 towns, and 1,352 villages when it was built…

I kept thinking, if I and few of my friends could pitch in, we could literally change one life for sure…life of this lady and her family.

But alas, we don’t have a way to help…because this person is probably unbanked or banked with an institute that will require us to jump 100 meter red tape to help.

Again, we do not like China’s authoritarian regime.

But the people of China must be just like us. With simple wishes and desires to get through life.

If governments keep screwing people like these, people can come to the rescue to save each other, no matter where they live on this bright blue planet of ours.

However, the biggest strength that the government has over each of us is the ‘system’.

A system that demands slavery from its citizens to the rules that thwart the welfare of its citizens every step of the way.

For the record, I hate China and its authoritarian regime. I do not hate the people of China.  

I think they are just like me, trying to get by with their lives in peace and not to be bothered.

But what are they supposed to do when the Government (or anti-social elements) steal what is rightfully theirs?

They can seek help but the current system keeps them outside of the realms of ‘receiving help’.

This is why we love Bitcoin and Cryptocurrencies and what they represent.  

People helping each other without the red tape.

Someone might argue that the anti-social elements can also use this powerful weapon for their ill-goals.  

Yes, we agree.

What’s stopping them from using ‘physical cash’?

At least, with bitcoin and crypto, every transaction can be forever tracked.  That means, if some anti-social elements were to use bitcoin and crypto for sick activities, they can be tracked forever.

Can you track someone who uses cash?    

No chance.

So, our belief in Crypto only gets stronger by the minute because of the immense potential it offers people to become their own banks and decide how their hard earned money is spent.

I think this is a basic right that every person deserves!?

Thank you for reading and sharing this article. Stay safe and healthy!

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Nikola Tesla & Bitcoin

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Nikola Tesla Bitcoin

Nikola Tesla was ahead of his time.

He had over 700 patents to his name and at some point, Patents’ office refused to grant a patent to him because his invention was too inconceivable.

Of course, Tesla actually built the model to show them that it was possible.  

This was the ‘wireless’ controlled device.  Tesla used this technology on a wireless boat in a pool at Madison Square. 

Tesla actually discovered the radio communication two years before Guglielmo Marconi.  

Many of his inventions still form the ‘basis’ of everything we build in our modern society.

If you think you can outsmart Tesla, think again.  He even conceived of ‘wireless current’ long before people even got used to the Alternate Current (which is what we use to this day).

History.com captures Tesla’s accomplishments in one paragraph (although it does not capture all):  “Tesla invented electric oscillators, meters, improved lights and the high-voltage transformer known as the Tesla coil. He also experimented with X-rays, gave short-range demonstrations of radio communication two years before Guglielmo Marconi and piloted a radio-controlled boat around a pool in Madison Square Garden.”

Fiat is the modern day Direct Current

The Fiat system that we are living on is the modern day DC.  

Edison had to build DC stations every 2 miles just to transport the unsustainable and unreliable DC.

Similarly, to make the unsustainable fiat work we use banks and institutions to keep it alive.  

Now, the modern day electricity that we use is Alternate Current (AC) and it does not need power stations built every 2 miles and could be transported to long distances using wires.

What is even more crazy is that Tesla had built a ‘Wireless Current’ (WC) lab that was purportedly destroyed at JP Morgan’s behest because WC could mean ‘end of profits’. 

Take that in for a second.  Wireless Current that’s made available to anyone anywhere in the world.   

That was the basic fallacy of Tesla’s lack of business acumen.  You see, JP Morgan had already invested millions of dollars in laying out electric wires in the hope of profits.

Then Tesla goes on to propose a new electric system that does not need wires or anyone to ‘bill’ for the free energy. 

Of course, this did not appeal to JP Morgan.

If Nikola Tesla had married his idea with the ‘profit’ equation solved, we might have been using WC by now.

Similar to Tesla, many good hearted idealists have walked this earth and they all proposed some radical ideas to change the world.

They too were missing the ‘profit’ equation.  For instance, the idea of Blockchain was proposed as far back as 1958.

Nothing happened because it was missing the ‘profit – reward’ equation.

Bitcoin married the ideology with commerce.  Bitcoin is that WC but with the ‘profits’ equation solved.

Think about it.  

Anyone can become their own bank.  Anyone can use it to conduct commerce with anyone around the world.  And anyone participating in this ecosystem is rewarded with ‘mining fees’.

Brilliant.

What good reason do we need banks once Bitcoin becomes the norm?  

Bitcoin will not make banks disappear. They serve a purpose, just like the batteries that we use in 1000s of devices do, in spite of AC.

Conspiracies abound Tesla and Bitcoin alike

Nikola Tesla had 700 patents to his name. He gave us all the light that we enjoy today. He made wireless systems possible. 

He is even claimed to have invented a ‘death ray’ that could melt tankers from 200 mile distance. No one knows the truth of this claim.

However, it is a known fact that after Tesla died in 1943, all of his life work was confiscated by the United States government. History.com reports “representatives of the U.S. government’s Office of Alien Property seized many documents relating to the brilliant and prolific 86-year-old inventor’s work.”

No one knows what was hidden in those documents that contained the life-work of Tesla.

Remember, he was the guy who invented wireless control devices in 1898 and he died in 1943.  

What did he invent in the interim 45 years?

Similarly, we do not know who the real Satoshi Nakamoto is today.  We do not know if he/she/it/they are alive or dead.

We do not know if the supposed Million Bitcoins in Satoshi’s wallet will ever be moved (that could hint Satoshi is alive).

But it doesn’t matter.  

Same as what Nikola Tesla did with his inventions and forever changed the world with the gift of AC, Satoshi might have altered the course of the financial world for good with Bitcoin.

Tesla foresaw his destiny and he captured it in a beautiful quote: The present is theirs; the future, for which I really worked, is mine.

That quote rings true for Tesla as much as it does for Bitcoin.

If you landed on this page looking for Elon Musk’s Crypto: Go to Energy Web Token

Thank you for reading and sharing this article. Stay safe and healthy!

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Image Source:

“IMG_0761” by boba777 is licensed under CC BY 2.0

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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