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During a school strike in an episode of The Simpsons, Lisa, without restrictions, manages to build a free energy device at home. Homer, famously, scolds: "In this house, we obey the laws of thermodynamics!"
The UK 4NEW has discovered a way to create its own free energy while obeying the laws of physics and environmental regulations. In their ecosystem, electricity is a valuable by-product, produced by its two waste-to-energy plants (WTE), whose operating costs are entirely offset by waste treatment costs.
The company will treat this electricity in its KWATT currency. The currency will be more useful, also for the global transfer of money and the payment of 4NEW services, and in particular for stakeout in a large mine on site. This statement, 4NEW, will make them the first public utility company to produce energy specifically for blockchain when operations begin in August 2018.
The current energy sector remains highly centralized, with consumer choice usually limited to a single supplier in each country. Blockchain and smart contracts introduce the potential for decentralization of supply, trade and financing of energy.
4NEW is not the only one to transform electricity into electricity projects, nor to its goal to make energy consumption ecological. Both Power Ledger and WePower aim to serve the renewable energy sector. CryptoSolarTech intends to build a solar photovoltaic park and, like 4NEW, use its own electricity generated to power a mine.
In a private communication, the founder Varun Datta explains where 4NEW is different: " The world of today is facing some major challenges.They include a growing global deluge of waste coming from the world. humanity, insufficient and polluting energy production – including the cryptocurrency space – and an ever-increasing population that exacerbates everything. "
" 4NEW is creating a new power plant that will not only have a low impact on the environment But it will actually contribute to the positive side of the ledger, helping the environment by converting urban waste into energy, without harmful pollution or residues, thanks to a closed combustion chamber, "says Datta. [19659008] The company's two WTE plants generate 10 megawatts per hour, capable of supporting up to 360 billion gigahashes per hour in mining capacity in its mine, while the remaining surpluses from the operations will be sold to the national network of the United Kingdom.
These operations will generate value, according to the company model, for both 4NEW and KWATT token holders. Token holders will have the opportunity to earn more by paying or borrowing their coins , as energy used, for the processing of transactions in the mine.
Token holders will have the right to mine there for life, without having to pay the required energy. The KWATT coin contains a kilowatt of electricity for a year. Since the supply of KWATT is limited, it is expected that the currency will be anchored to an increasing amount of electricity.
4NEW states that the whole process will be accounted for and tracked on the blockchain. This will include the collection of waste, mining, the distribution of the value generated; even how much waste is diverted from the landfill and the amount of greenhouse gas emissions avoided through a cleaner transformation of waste and the creation of electricity without fossil fuels.
Every year more than two billion tons of waste are generated by humanity. Each of the 4NEW WTE plants will absorb 50,000 – 100,000 tonnes of waste annually, processing them in an ecological method that also generates electricity. A third plant is planned for its operational launch in 2019, and others are expected
Datta comments: "We have come up with a way to tackle some of the biggest challenges faced in the generations: the waste problem and the reduction of landfill, pollution and its effects on the climate, and a growing global demand for scalable and sustainable energy.That blockchain slowly evolves towards greater energy efficiency, in the meantime we will offer a sustainable mechanism for cryptocurrencies. "
L & # 39; ICO of the company will be completed on August 10th. The funds raised so far exceed its soft cap and have reached more than $ 43 million. The KWATT currency will be listed on three stock exchanges (Exrates, HitBTC and HotBit) from 21 August.
Image from 4NEW.
