DUBLIN, IRELAND / ACCESSWIRE / September 24, 2021 / Making crypto green again, that’s the philosophy EcoWatt lives by. Ecowatt is a socially-minded next-generation renewable energy company that aims to disrupt the green energy market by leveraging the blockchain and loyal crypto community to accelerate the shift to green & sustainable energy. Currently, they are preparing the launch of its Initial Exchange Offering which will be listed on Bitforex in October 2021 with an estimated market cap of 60 million USD at launch.
What Is EcoWatt?
EcoWatt is the world’s first store of value on the blockchain, which is backed by renewable energy assets with recurring revenue streams from government contracts. Ecowatt is a Climate change Governance Token whose value and utility will be decided by a real-life green asset portfolio that includes solar, wind, hydrogen, and geothermal power plants.
The EcoWatt tokens are backed by green power assets that turn sunshine into clean power and hold government contracts for up to 20 years. This makes them the first blockchain initiative dedicated to accelerating the green energy transition and by putting a real-world use case onto the blockchain. The Ecowatt token (EWT) can be staked by the community of users and they can leverage up to 50% of the token value for an instant low-cost liquidity loan while also earning daily rewards.
Their premiere use case however is to offset carbon emissions and make enterprise partners green with carbon credits verified on the blockchain. To reduce the carbon impact in i.e. crypto mining, EcoWatt uses green electricity and carbon offsetting that it receives from planting trees to generate Carbon Credits.
According to their Tokenomics, their initial target portfolio of 1000 MW (1 billion Watt backing 1 billion Tokens) will be avoiding 750.000 Tons of CO2 emissions with green electricity production and planting 1 million trees annually. This way, the enterprise partners (crypto miners) stake EcoWatt and receive verification of the corresponding carbon credits required to be certified as a green company.
Bitcoin Mining uses 96.5 TWh of electricity annually according to the Cambridge Electricity Consumption Index, meaning that EcoWatt needs only 1.5% of market adoption to be 100% staked during the issuing phase.
The tokens also give access to Governance Decisions that bring the community and miners together to determine how best to create environmental and social impact projects while contributing to wider crypto market adoption.
Problem In The Industry And How EcoWatt Addresses It
The global electricity market is mainly controlled by governments and hedge funds. This creates scarcity and inaccessibility to retailers and other small-scale consumers. EcoWatt aims to disrupt the unequal supply chain of electricity to make it accessible to the retail community, which they believe is for the first time ever. EcoWatt opens doors for people to participate in the explosive growth potential as the world becomes more electrified and green. EcoWatt’s scalable platform is built using Polygon (Matic) ERC20 standard and utilizes smart contracts.
What difference can Ecowatt Bring To The World?
EcoWatt prioritizes the environment and social impact over profits. It empowers the community to get a stronger grip on renewable energy and helps in accelerating its growth at the pace of large organizations. EU statistics say that every 250 Watt of solar power saves 500 Kg of CO2 emissions per year by replacing 250 Watt of coal power. EcoWatt has a mining pool target of 1 billion Watt and it will be saving 750,000 Tons of CO2 emissions per year. Facilitating everyday people to make an environmental impact by holding the tokens.
EcoWatts Energy’s vision is to build a 100% sustainable planet and it contributes to the UN Agenda for 2030. The community will also be planting up to 1 million trees annually to further contribute to this cause.
To know more about Ecowatt visit here
To engage with the management & community visit here
Media Contacts:
Name - Matisse Eykelberg
Company - EcoWatt
Email - [email protected]
Location - Dublin, Ireland
SOURCE: EcoWatt Energy DAC