4NEW: Integrating Blockchain to Real World Applications
- cryptotipsbydada
- Jan 30, 2018
- 4 min read
This week the entire cryptocurrency market capitalization is over $500 billion USD and the bitcoin value significantly rise from its price way back last January 2017, alongside with all other thousands of alternative coins also known as "altcoins".
Cryptocurrencies are trending across the world and continuing to gain global attention as the blockchain technology offers decentralized system where data can be shared, in an open and transparent method.
Mining plays an important role in cryptocurrency since it involves adding transaction data to the global public ledger of past transactions of the cryptocurrency. In simpler terms, miners are the one who confirms and process the transactions in blockchain.
According to Statista, the total revenue raised from Bitcoin mining worldwide from 2010 to 2016. The Bitcoin mining revenues increased from 0.2 million U.S. dollars in 2010 to 2,073 million U.S. dollars in 2016.
However, as the price of the bitcoin increases, the process of mining is getting harder and difficult. The power consumption is one of the major costs of bitcoin mining because it requires increasingly powerful hardware to be competitive so as the price spikes, the mining gets more difficult, the higher energy consumption.
In physics, it is stated that energy can neither be created nor destroyed; rather, it can only be transformed from one form to another. Energy exists in different forms from light energy, heat, electrical, sound, motion and so on. Energy is everywhere, it is all around us and within us. We just need to find a way how to harness it.
Waste to energy is one of the solutions for the global concerns like the greenhouse effect and global warming that causes huge environmental impact in ecosystems and to our health.
Now, let's meet 4NEW - Tokenized electricity.
"It is our belief that 4NEW will successfully integrate the blockchain network within the real world applications of energy consumption by the crypto community leading to widespread mainstream adoption."
- Sandeep Golechha, 4NEW- Chief Executive Officer
4NEW is the world's first eco-friendly, tangible, waste to energy blockchain solution.They collect & process waste, and we turn it into free and organic byproducts.
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 its onsite mining farm.
Placing the power in hands of the people.
People will have the ability to apply this power either to cryptocurrency mining farm or the national grid. The plants sustain itself from revenue generated from waste collection services with up to 40 megawatts of power produced per hour that can power 40,000 households for a day.
The ability to scale the business will be global and endless since we, the human beings are everywhere and humans produce a lots of waste making it abundantly available for the new generation.
4NEW Blockchain
4NEW is a producer of energy. It also enable a standardization of transaction fees within the crypto community. This standardization of fees cannot be matched by any other blockchain as they have to purchase their energy from retailers.
Its blockchain will enable payment system platform that can accommodate all utilization of the KWATT Coin in varied and diverse industries.
Introducing KWATT Coin
The KWATT Coin, tokenized electricity powered by 4NEW.
1 KWATT = 1 kW of electricity per year
KWATT Token currently is an ERC20, Ethereum based smart contract. Upon completion of the blockchain development, the token will be swapped to the KWATT Coin that will interact with our blockchain.
Holders of KWATT Coin can either sell their energy to the UK National Grid or they can choose to apply it towards 4NEW’s cryptocurrency mining farm.
According to their whitepaper, 4NEW will never authorize any additional coins issuance over and above the three hundred millions coins being launched in this initial coin offering. Therefore, any future growth in 4NEW plant sites will always rely on the supply of the coins being issued in this offering.
ADDITIONAL UTILITY
4NEW blockchain will be under development starting 2018 as per their roadmap. (See the roadmap here: 4NEW Whitepaper)
Starting 2018, KWATT Coin holders will be able to use their coins for the following services as a payment tender for respective services.
• Mining Farm
The KWATT Coin will interact with the miners to enable them access to the blockchain in order to mine currencies of their choosing.
• Money Transfer company
This coin utility will enable KWATT to operate as a store of value allowing individuals to transfer funds globally using the KWATT Coin as a vessel.
• Licensed Pharmacy
Upon completion of beta testing in March, individuals globally will be able to purchase their medications using the KWATT Coin from a fully licensed pharmacy online.
• Insurance Company
In 2018 4NEW will initiate beta testing of the utilization of the KWATT Coin as a payment system for a 1.5 billion dollar healthcare insurance company with over 8 year track record.
With over 90,000 members covered under their policies, anticipation is that the KWATT Coin will break critical mass and enter main stream utilization.
Source: 4NEW Whitepaper
For more information, please visit the following:
Authored by:
Bitcointalk profile @imdada
Comentarios