Terawatt (LED)

0.00 ETH

Raised

700 ETH

Soft cap (max 7,000)

0

Backers

Feb 5, 2018, 12:00 AM

Launch Date

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Our Mission

     To help reduce global lighting electricity consumption 50 percent (roughly 2000 Terawatts) by 2035, while also increasing light output by 50 percent. 

Method:

    Terawatt will voraciously drive L.E.D. lighting adoption by incentivizing buyers and sellers of L.E.D.’s to transact through a community governed DAO that allows all parties to win. The DAO will be funded by utility companies, participant donations, L.E.D. buyers, and Terawatt’s company profits. Terawatt will also leverage (LED) token incentives, instant tax rebate utilization, key partnerships with LED manufacturers and governments, heavy marketing, decentralized data storage, and a community governed token pool where LED owners can vote based on the amount of tokens they own.

    Utilizing these methodologies, the Terawatt ecosystem will efficiently increase the changeover from less efficient Incandescent, Metal Halide (MH), High Pressure Sodium (HPS), and Compact Fluorescent Lighting (CFL) to 100% L.E.D. lighting (Light Emitting Diode). This will greatly decrease electricity bills, and therefore reduce global carbon footprint through increased global lighting efficiency. Terawatt will be geared towards a wide range of applications, including, but not limited to, substantial energy savings for small businesses, large corporations, single and multi-family residences, hospitals, military installations, industrial/commercial complexes, and for the taxpayer through federal, state, and municipal buildings and infrastructure (streetlights).


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Contact Information

[email protected]

Twitter: https://twitter.com/Terawatt_LED

Telegram:  @terawattICO 

Website

Terawatt Whitepaper


Unique Selling Points

-Masternodes when available on Ethereum

-Patent-Pending LED Purchase Verification Process

-Already collaborating with Utility Companies

-Strong Monetization Focus and Methods

-Solves a Real-World Problem

-Helps protect the environment and by reducing greenhouse gas emissions from electricity production

-Talented, well educated, experienced, and passionate team with a diverse skillsets

-"Feel-Good" company that helps drive current state, local, federal, national, and global green initiatives

     Through token incentives, voracious marketing, DAO utilization, and key partnerships, Terawatt aims to help put LEDs in all commercial, industrial (street lights), government and residential buildings/facilities worldwide. Users will also be able to find and utilize applicable instant tax rebates, search for tax credits, and then securely store this purchase data on the network for later use in filing their taxes. Participants can buy, sell, stake, donate, or hold (LED) tokens, which will power the Terawatt Ecosystem.


Market Data

    The rapid adoption of LEDs in lighting marks one of the fastest technology shifts in human history,” Goldman Sachs stated in a new report.

The accelerated deployment of light-emitting diode (LED) bulbs is on track to save U.S. consumers and businesses $20 billion a year in electricity costs within a decade, which would lower U.S. CO2 emissions by some 100 million metric tons a year! The growing global effort to speed up LED adoption could ultimately cut global energy costs and carbon pollution 5 times as much.

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    On top of all that, in 2015, the world’s energy ministers embraced a Global Lighting Challenge, which is “a global race to accelerate phase-in of high efficiency, high-quality and affordable advanced lamps and lighting systems with a target of achieving cumulative global sales of 10 billion such units as fast as possible.” LED lighting will be a central focus.

    As with solar energy, advanced batteries, and electric vehicles, the LED lighting revolution may not be televised by the major media, but it is happening at a torrid pace nonetheless — with a big boost from government deployment policies.”

    LED’s have the potential to fundamentally change the future of lighting in the United States, and abroad.  Residential LEDs, especially ENERGY STAR rated products, use at least 75% less energy, and last 25 times longer, than incandescent lighting.

    Widespread use of LED lighting has the greatest potential impact on energy savings in the United States. By 2027, widespread use of LEDs could save about 348 TWh (compared to no LED use) of electricity: This is the equivalent annual electrical output of 44 large electric power plants (1000 megawatts each), and a total savings of more than $30 billion at today's electricity prices.


Problem/Solution

    Inefficient light bulbs are creating both unnecessary greenhouse gas emissions, which contribute to climate change, and unnecessarily exorbitant electricity bills for peoples and governments. Terawatt will help to fix this problem by driving LED adoption

LEDS Vs Other Bulbs

HPS Lighting                                                 LED Lighting     MECPpCIuSFtU_axsUojEdaUXs2LEkJunqvTZJcfUY9LYFxwZ3SXY-hrPf8ANwRWtP9fLPb16TsM7r_tK6LP6xKTbtWPqHB2o6ZGhu3pgxBrNerEaxKAYM7__osiDzk_GQlATYfjR

    LED lighting solutions have never been more accessible or affordable than now. With multiple rebate programs and incentives, more cities are making the switch to LED street lighting. And why wouldn’t they? As we all know by now, LEDs are energy-efficient and long-lasting which means huge savings on the energy bill as well as reduced maintenance costs. But what about the other benefits? Such as reduced crime rate, safer neighborhoods, and overall perceived improvement? These are all benefits that LED street lighting can offer compared to the orangey glow of the high pressure sodium (HPS) street lighting still illuminating most of our streets and neighborhoods.

LEDvsHPSSAFER STREETS

     The biggest difference between LEDs and HPS lights (other than the energy savings, of course) is the overall appearance of the light. LEDs not only feature a crisp color similar to moonlight/natural light (anywhere from 4000K to 6000K), but also a great Color Rendering Index (CRI) of at least 70. This is hugely important because the CRI is what determines the visibility and ability to see things as intended. The CRI for HPS lights, in comparison, can be as low as 20. This makes visibility “muddier” and more difficult to discern detail and color. When visibility is decreased, so is safety which means an increase in crime. Visibility is an obviously important factor when it comes to lighting streets and neighborhoods at night. Take a look at this chart that compares basic statistics between LED street lighting and HPS.

CASE STUDY: L.A. REACHES ANNUAL SAVINGS OF $8.7 MILLION

LA-LEDvsHPS

     Los Angeles, California began a huge installation of 140,000 LED street lamps in 2009. Since the conversion from HPS to LEDs, the city has recorded up to 63% energy savings and cost savings of $8.7 million this past year. The cost savings are the result of not only a savings in electricity cost, but a reduction in maintenance costs as well. As an article on Forbes reports, “In 2008, pre-LED roll-out, Los Angeles logged 70,000 street light repair and maintenance events; in FY 2012, maintenance and repair events fell to 46,300. LEDs are longer lived than the incumbent units they replace (10-15 years versus 4-6 years), which means that maintenance should steadily decline as LED units are fully deployed.” Again, savings in energy costs and maintenance equates to a minimization in tax increases and revised budgets with money allocated to much needed and often put off infrastructure repairs. Read the entire Forbes article on LA’s LED lighting project here


LEDs Vs CFLs and Incandescent Bulbs

I think it's fair to say that most people and businesses understand LEDs are more efficient, can reduce their electricity bills, and are generally better for the environment. However, most LED buyers are not aware they could have utilized local city/state tax rebates to reduce the purchase price by 50-80 percent, and also that they can apply for a tax credit at the end of the year (as always, consult with your local tax professional). Take a quick look at the table below:

LED vs CFL vs Incandescent Cost

Incandescent

CFL

LED

Watts used

60W

14W

7W

Average cost per bulb

$1

$2

$4

($0-2 when using instant tax rebates!)

Average lifespan

1,200 hours

8,000 hours

25,000 hours

Bulbs needed for 25,000 hours

21

3

1

Total purchase price of bulbs over 20 years

$21

$6

$4 ($0-2 with instant tax rebates!)

Cost of electricity (25,000 hours at $0.15 per kWh)

$169

$52

$30

Total estimated cost over 20 years

$211

$54

$34

     While prices for LED light bulbs were astronomical just a few years ago — upwards of $100 for one bulb — you can now pick up a cheap, 60-watt-equivalent LED light bulb for less than $5. They will become even less expensive as technology advances.

     Incandescent light bulbs are being phased out: An almost complete ban on their sale started in 2014 and will take full effect in 2020. Simply put, they waste a lot of energy and don’t last very long.

     Even though CFL’s are better than incandescents, LEDs are the superior option in every area. Modern CFLs also contain a small amount of mercury, which is very harmful to both your health and the environment. That means it’s bad news to break one (here’s how to clean it up safely if you do), and they shouldn’t be disposed of in your regular household trash (here’s how to recycle them). If these bulbs are not properly disposed the mercury could contaminate groundwater which we use as a source for drinking water. This is just some of the severity we face if CFL’s are not properly disposed.


Funding Problem/Solution

Terawatt Decentralized LED DAO Project

“Lighting Efficiency Decentralized”

     Electrical grids get overloaded as electricity consumption continues to grow with the population as well as our increased reliance on electricity. This is likely to continue to become an even greater issue as more electric vehicles hit the market. To meet this demand power/utility companies have to build expensive additional power plants. OR, what they are doing is incentivising their customers to upgrade to LED lighting, (and other energy efficient appliances, devices, building methods, etcetera) Power companies are even encouraging their customers to consider solar panels or provide their own electricity somehow. Sounds counterintuitive right? It makes sense though when you realize how expensive it is to build and maintain a new power plant versus just having your customers change their light bulbs. Also, in the US, power companies are mandated by the EPA to incentivise the changeover from CFL’s to all LED because CFLs contain mercury! Most people do not recycle them either because it's easier to just throw them in the trash.  

    I spoke to DUKE energy, one of the largest utility companies in the USA and world, and they are even giving LED’s away for FREE! Up to six bulbs and the rest are heavily discounted. This tells us they REALLY need their entire user base to adopt LEDS (and other energy star rated appliances, building materials, switch to renewable energy sources, etcetera)


The Decentralized Terawatt DAO Solution:

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What is a DAO? Is this something new?

     The DAO is a next-generation organisation that will change the way we create products and share profit.

     “The DAO is now the biggest crowdfunded project of all time. In less than a month the organisation has a market cap of $140 million. So what is the DAO really? And why should you care? Simply put, the DAO is a self-running company. It has no directors, no managers and no employees — at least not in the conventional sense of the words. DAO stands for ‘Decentralised Autonomous Organisation’ and it’s powered by a cryptocurrency called Ethereum. To better understand how the DAO works requires a quick explanation of Ethereum. This is the future of trust.."

     With a basic understanding of what a DAO is and how it works, we can now get into more details on how the Terawatt DAO will function. We will build a DAO, and they will come. This is a decentralized autonomous organization that is essentially a bank/pool of funding allocation for power companies, and their customers (business and residential), which they can tap to ensure that these L.E.D  discounts can be offered/available 12 months out of the year instead of 3-6 months, or not at all in some cases. Terawatt will act as both a rebate funding bank, payment gateway, and as an immutable verifiable data ledger. Think of it like a merry-go-round of appreciating money, that allows power companies to help eachother out (which is really helping their customers, and helping the environment, AND further advancing the federal and state initiatives that are pushing for 100% LED adoption anyway).

     We will use a percentage of the ICO money to fund the DAO initially.  We are currently developing relationships with some of the largest utility providers in the world. Terawatt will offer them a free-trial basically, allowing the utility company to partake in the DAO and experience its benefits firsthand. This removes the risk from the utility providers, the sell is quite easy here.

     With the DAO funded, we will market heavily and we will also encourage/incentivise the power companies to funnel their customers looking to purchase subsidized L.E.Ds through the Terawatt DAO. Example: The customer expects to pay an average of $6 per bulb for LED’s, and 99 percent of them are unaware that the Utility company offers bulbs for free, or for $1-2. Terawatt will charge the customer slightly more than say the $1 the power company would charge them. So the customer pays the LED token equivalent of $3 for the L.E.D. bulb, that they expected to pay $6 dollars with FIAT for (which is very typical). The DAO pays some of this difference to the Utility provider selling the bulb in LED tokens, and keeps the rest as profit. This further increases the value of the LED token.

    In the previous example, the utility made 50 percent more money on the sale to their customer for the subsidized bulb, the customer paid 50 percent less than they had expected, received an LED token amount as their incentive bonus, the DAO (Terawatt essentially) made 50 percent profit, the utility provider got paid in an appreciating asset (LED tokens) which increases their profits exponentially over time. Do you see how everyone wins here? This is a very basic example, and this will be a very high speed process with millions and billions of dollars changing hands at lighting speed, automated by smart contracts, while remaining decentralized, secure, and immutable.

     We also aim to do this for GAS, and SOLAR, and WIND, Electric Vehicles, Etcetera. LEDs are just the beginning of the titan Terawatt will become. LEDs will be proof of concept and then it will snowball from there into these other sectors. Once utility companies experience the innumerable benefits of joining the DAO, they will happily pay to join, and other companies that don’t do this will begin to feel the effects and will rush to join us.


Token Description

     Our project will use Ethereum to issue and create tokens mainly because it has the base foundation that our technology will implement. Terawatt will manipulate the blockchain smart contracts. Our token will

     be a standard ERC20 token with some specific modifications. Our algorithms will verify that the consumer has actually purchased the bulbs from a suitable  store and add the transaction to the blockchain. Once the purchase is verified we will issue the consumer tokens according to how many total watts of the bulbs that they purchased.

How LED Token will be ihceGBRwMayQqafv0IQBYiOv_nr-wBDKDHynyl-Ik0MWIfpQszxFZcwtpOG0CND4XzNDRG1aDZGnbrhuK-zWcbPHjWo6S6KGOoYAL-FQdipgqAho5CAOoFnlKkGCyc12ekeMRj4y4mplemented?

     Our token will use POS so that it will help with emissions and keep the environment clean and green.

     Our first implementation will be on the Ethereum Casper Network using Proof of Stake. This network is able to finalize blocks/messages in constant time O(1). This is in contrast to the O(N) time required for Byzantine fault tolerant state machine replication. Casper uses a binary consensus protocol. Protocol messages has three parts An Estimate(0 or 1), a sender( validator name) and a justification. An Estimator then translates the messages into 0’s and 1’s.

uQUtYxQdNrHwKbtQ1ZGo6bvG1RqLblY_kzlSDzaVPHMmJGv4jm-6LMyDoUElIKbYShRlRMu43y9iUICudDi0mDiR8eaiAOPCrzae_w47WjbL2eVR8WQv1l-Zn7Pzp82MULSNzoRK     CBC Casper is a method for "deriving" consensus protocols. Using this method, a family of protocols have been created that enjoy a variety of benefits over traditional consensus protocols. These benefits include:

  • A (relatively) simple consensus safety proof!

  • No "in-protocol" finality threshold.

  • The ability to trade off latency to finality with number of validators, rather than just network overhead.

  • Theoretically optimal network overhead in the certain cases.

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     The Terawatt LED token is going to be part of a global distribution of how consumers interact with energy, not just lighting. We are offering tokens to consumers that use our patent pending verification technology in order to verify that they have purchased led bulbs. Product tracking, verification, ecosystem expansions are all in future works. We believe that being transparent and open will help keep the sustainability and value of this token. We will also offer several utilities such as

  • Community governed DAO - Donated funds may be locked into a pool, and the global Terawatt community will vote/decide on what projects get funded and how much funding will be provided or set on the side for these projects.

  • Incentives - Terawatt Token will act as a rewards system for each L.E.D. bulb purchase that's verified by our patent-pending process. This serves as an incentive for users to purchase LEDs for home, businesses, or government use and verify them through our interface

  • Data Storage - LED purchase records may be securely stored in the Terawatt ecosystem. This allows the purchasing entity to return at tax time and have all of their LED and other Energy Star Rated Purchase records readily available. The user pays a small token fee to access the records again.


Token Specifications

Terawatt - Decentralized, secure, sustainable

1 LED Token Represents 10,000 Watts (10 KW) of potential L.E.D. Electricity Usage

Overall Supply is 100,000,000 LED Tokens

Circulating Supply: 20,000,000 (This number will vary some as tokens are both removed from circulation (used towards community chosen projects) and also distributed to bulb buyers) We may also be doing one or more token burns to reduce supply

As a verified LED bulb purchaser, you may get LED Coins for free!

15% of LED Tokens will be given to LED bulb purchasers over the next 20 years

The remaining LED Tokens will be used for building out the platform, developing strong partnerships with government agencies and initiatives like the Department of Energy, Global Lighting  development, LED retailers like Amazon, Philips, and General Electric, heavy marketing, network growth, token sales, overhead, and to possibly expand into other rapidly growing renewable sectors like Solar, Wind, Electric Vehicles, Etcetera.

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Token Supply may decrease over time, as we will convert the donated LED tokens to Ether and Bitcoin to fund the community selected initiatives in our ecosystem

The end goal is to help cut 2,000 Terawatts of electricity usage worldwide (~50%) and 9 trillion tons of greenhouse emissions from electricity usage over the life of the project. The beauty of LEDs is this will also increase light output by ~50 percent as well. This will have a significant global impact on the environment, especially in countries like the United States, China, India, The EU, etcetera. Then though further marketing, education, government/corporate/individual partnerships, and strong development we will continue to drive global LED adoption initiatives


Token Utility

Why do we need blockchain?

  • Transparency and verifications of all transactions performed on the platform

  • Smart Contracts that power the DAO

  • Purchase and Tax Data Storage

  • It becomes convenient to work with other cryptocurrencies

  • Integration with other projects on blockchain (product tracking, verification, ecosystem expansions, and so on)

  • Reliability and fault tolerance.

The Terawatt token will have several utility functions:

  1. Incentives - The Terawatt Token/Currency acts as a reward for each L.E.D. bulb/fixture purchase that's verified by our patent-pending process. This serves as an incentive for users to purchase LEDs for home, businesses, or government use and verify them through our interface

  2. Community governed token pool (DAO) - donated funds may be locked into a pool, and the global Terawatt community will vote/decide on what projects get funded, and smart contracts may automatically distribute the funds 

  3. Data Storage - LED purchase records may be securely stored in the Terawatt ecosystem. This allows the purchasing entity to return at tax time and have all of their LED and other Energy Star Rated Purchase records readily available. The user pays a small token fee to access the records again.

  4. Smart Contracts - LED token will power the Terawatt ecosystem and execute smart contracts on the ethereum blockchain

     Users will also may be able to stake their earned tokens to earn residual rewards with our POS (proof-of-stake) token model. This can be like an “air-miles” rewards program, but for LED bulbs. There is a similar token incentive right now for Solar Panels called, “SolarCoin,” which currently has a 30 million dollar (USD) market cap, but there are no companies doing this for LED’s, and our project will have a token ecosystem that may expand into many different renewable sectors like Wind, Solar, Electric Vehicles, and more. Terawatt is patent-pending (further patents to be granted) and will use a community based governance model where participants can vote with their tokens on which city/application we can help convert to LED’s. Terawatt will also help to educate others about the benefits of switching to LEDs.


Monetization

        We noticed that most (99 percent) crypto projects, coins, tokens, and ICO’s, have no plan for monetizing their company, or its product/offering (except for accumulating participant dollars). Very few solve a “real world” problem either, have token utility, and even fewer further the global sustainability agenda that is progressing rapidly. Also, almost none are patent-pending, proprietary in any way, or have a strong legal/strategic advisor who has worked on projects like Mcafee coin and others which we cannot disclose at this time.  We wanted to tackle these pain points head on, and deliver a superior blockchain based product and service. This will not only differentiate this project and make it very attractive to financial participants, but also will help change the world and provide a sustainable business model going forward.

1)Utilizing Local, State, and Federal Tax Incentive, Credits, and Rebates

2) Partnerships with L.E.D. manufacturers and Governments

3) Commissions from L.E.D. bulb sales

4) Donations

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April 2018 - Special Release, Coinmarketcap listing

May 2018 - Exchange Listing

July 2018 - Mobile Wallets, Additional Partnerships

Sept 2018 - Exchange listing

November 2018 - Fully Functional User Interface Released, Mainnet Online

December 2018 - Devcon, Acquire More Partnerships

February 2019- Receipt Verification/Tax Incentive Utility/LED Token Development

March 2019- Expansion of Terawatt’s LED Ecosystem


Our Team

Evan William 

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Founder and Chief Executive Officer

B.S. in Business Management from The State University of New Jersey at Montclair. Evan is an extremely driven entrepreneur with extensive experience and skills acquired from various business ventures. These include: Sales at Verizon Wireless, Door-to-Door Environmental Fundraising for the NJEF,  Mechanic for SEARS, Certified Fred Astaire Instructor, Professional Photographer for 813Area, Director of Business Development for Tampa Bay Aviation, Brewmaster and Investor of Black Fox Meadery, and has founded several other companies. Evan’s also a U.S. Government Contractor who engineers custom aircraft coatings for sale to the D.O.D., which he also uses for vertical integration in his other companies. Evan is a self-taught cryptocurrency trader and investor, who helped develop the RSI Scanner Bot, and bootstrapped Terawatt, a patent-pending project that will better our world. linkedin.com/in/evan-william

Morris Hallowell Layton III

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Chief Operations Officer

B.S. in CIvil Engineering from University of Texas at Arlington. Morris has more than 10 years of experience in civil engineering, business development, marketing, and event promotions. He has had the opportunity to work on software pre-launch, and promote affiliate products. He has a thorough understanding of current infrastructure needs, and economics in funding maintenance, reconstruction and new construction. He is pro-sustainability and pro-tax savings. He joined this team to build client relationships with government authorities, individuals, and businesses.

linkedin.com/in/morris-h-layton-iii-5624229/

Jerome Raymond

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Chief Technical Officer

B.S in Software Engineering from the University of Texas at Dallas. Has been developing software and Android and IOS apps for over 10 years. Has strong knowledge of the Software Development Lifecycle and building out business infrastructures. Provides executive leadership as head of global IT. Responsible for all aspects of strategic IT planning, implementation, and support worldwide as an integral component of business plan. Managed and delivered multiple large scale projects on time and within budget. Responsible for budgeting, design and support of all technologies.

linkedin.com/in/jerome-raymond-8b06278

Ashley Chin Richardson

 cVONaXKP--adL2H4L5csRvda7abdxjjjRwkRB2HCxDb7OormP7TWQPXWwwdtvLklsd_6ncD9xLCu0g8sCTAekQvZk0sokF8LGMKF7xgREDUjTN8QGHmeFXKqRKL5JAuV-AVGi0vP

Advisor, Legal Committee

Ashley currently acts as legal counsel and as a strategic advisor to projects and ICOs, including John Mcafee’s most recent ICO, Mcafee coin. Ashley is an attorney and entrepreneur who is actively involved in the cryptocurrency community as an investor, trader, and miner. In addition to her expansive technical understanding of blockchain fundamentals, She holds a law degree from American University Washington College of Law, and a MA in International Affairs from American University School of International Service. Ashley is a member of the Maryland State Bar and her areas of expertise are international business and strategic business advising.

linkedin.com/in/ashleychinrichardson/


Contact Information

[email protected]

[email protected]

[email protected]

Twitter: https://twitter.com/Terawatt_LED

Telegram:  @terawattICO

Website


Whitepaper

Terawatt Whitepaper

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