Globally, statistics show that cryptocurrencies market capitalization has surpassed $500 billion rising over 2000% in 2017. This trend is expected to continue in future as businesses increasingly embrace the elegant design and transparency of the blockchain. Crypto mining has proven to be very lucrative, birthing technology companies that produce mining wares. As profitable as crypto mining is, when it comes to power consumption it is as much consuming. This mining process has the potential of raising Singapore’s world electricity consumption ranging from 43 to 20; this could increase the price of kilowatt globally as the world today depend on energy from coal and oil.
The price of bitcoin is steady on the rise and expected to reach about $20,000 per bitcoin by 2022, the more valuable one bitcoin becomes, the more energy will be consumed in mining and price spikes will attract energy spikes.
Increased demand from miners globally will also affect the prices of energy. From September 30, December 31, to March 31, 2018, one bitcoin transaction consumed as much as $7.5, $10.5 and $30.5 households for a day respectively.
4NEW is the world’s leading eco-friendly, tangible, blockchain ecosystem powered by waste to energy power plants. The concept is quite simple, the process of reﬁning waste product into water and organic materials creates energy which is unencumbered and freely available for utilization or sale to the national grid or applied to operate mining processes at an onsite mining farm.
Having a unique opportunity to apply this ﬁnite lifetime supply of energy to its coin called KWATT with the symbol KWATT. Each KWATT Coin will have the capacity of 1 kilowatt of electricity for a year. Unlike other companies, which offer similar services, 4NEW is unique in the sense that there will be no charges of energy fees for mining, while the only cost to a coin holder is the cost of the coin. Users will be at liberty to decide which coins or coins they would like to put their KWATT Coin power towards to mine. The options will consist of the top twenty minable coins, which will automatically point the necessary amount of hash rate towards mining that coin. Yields will be transacted to the account associated with your 4NEW Wallet and with the KWATT coin, they will be able to stake their tokens on the network allowing consumers of power to utilize the staked coins to process crypto transactions for currencies such as Bitcoins, Bitcoin Cash, Ethereum and Dash amongst others.
Relying on the waste to energy model concept, 4NEW is being paid for waste processed and the sale of by-products such as fertilizer, organic materials and clean water, with start-up costs to this mechanism funded by the coin sale, and the plant’s overhead funded by cash ﬂow generated from collection of waste and revenue from sale of by-products. When properly maintained to run consistently with minimal downtime for 92% of annual hours without intermittency, depending on the setup of the plant 4NEW can benefit from other revenue streams in the form of gate fees, Renewable Obligation Certiﬁcates (ROC), Feed-in Tariffs (FiT), and Renewable Heat Incentives (RHI) using different technologies and processes including Combustion, Gasiﬁcation, and Anaerobic Digestion.
Electricity is an intangible commodity. Nevertheless, it is not practical or feasible to scale access to electricity globally, but with the advent of the blockchain technology, we are enabled to scale a localized, intangible commodity such as electricity, globally. The KWATT Coin allows us to fractionalize the output capacity of a power plant down to the most fundamental unit, which is the kilowatt hour which has been successfully conﬁgured and pegged with electricity because 4NEW is a power producer, not an exchange.