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Swytch

Swytch is a Renewable Energy Incentive


Swytch is a blockchain based application that seeks to verify and reward the production of renewable energy through the issuance of an ERC20-compliant utility token. Swytch has a 1.5 gw pilot program operating in Germany, and has signed MOUs with four cities in Korea. Swytch attaches an IOT device to renewable energy sources that verifies the energy produced and reports it to an oracle that determines how many tokens that energy is worth based on a number of factors, which includes: geography, time of day, source of energy produced. We call this Proof of Production, and for this industry it solves the problems inherent with PoW and PoS.

Big Data Energy Infrastructure

3.9


4.4
ICO PROFILE
4.2
TEAM
2.8
VISION
3.0
PRODUCT
Unknown
Start Date Unknown
End Date Unknown
Token SET
Platform Coincart
Price 1 SET = 0.50 USD
Country USA

About Swytch

One of the largest contributors to climate change is the burning of fossil fuels as a primary source of energy, heat, and transportation. The burning of hydrocarbons released nearly 30 gigatons of carbon dioxide in 2016, as well as toxic and harmful compounds such as mercury, nitrogen oxide, and sulfur dioxide. While investment in renewables has been scaling, the current state of renewable energy production is far from where it should be to mitigate environmental damage caused by traditional greenhouse gas emissions (GHGs). As of 2015, only 10% of global energy consumed came from hydro, solar, and wind sources. The incentives for scaling renewables that are in place today largely reflect legacy ideas, technologies and mechanisms that are inherently flawed. Participants in these programs are frustrated by the fragmentation, fraud, administrative cost, and lack of focus on true environmental impact. More must be done to mitigate the impacts of climate change and empower people to take a more active role in addressing one of the most pressing issues of our time.

Swytch was born from a collaboration between utility-scale system builders, large energy customers, the energy finance and trading community, as well as cities to address this need with incentive and governance mechanisms that actually work. At its most basic level, Swytch Token will provide an incentive for clean energy producers and fills a gap in today’s market for verified renewable energy data and consumption. Swytch will use open-source applications, protocols, and algorithms to verify and reward investments in renewable resources worldwide. The reward will be in the form of an ERC20 compliant token that aims to incentivize investments in a wide range of renewable and sustainable assets and infrastructure (rooftop solar, distributed utility solar, grid scale solar projects, wind projects, storage systems, etc.).

From large-scale industrial power infrastructure to small residential assets, Swytch Tokens can be generated anywhere electricity is produced. Swytch will provide geo-stamped credentials for production of renewable and sustainable technologies which will serve to create invaluable data sets capturing production information and driving adoption of renewables where future production will have the most impact. Furthermore, the generation and transfer of Swytch Tokens will accelerate investments in and adoption of renewable and sustainable technologies by rewarding production and creating a network in which those rewards can be exchanged. 

THE PRIMARY BENEFITS THAT SW YTCH OFFERS OVER EXISTING INCENTIVE PROGRAMS INCLUDE:
Standardization and liquidity where today there is fragmentation and market inefficiency;
Token based incentives for accelerating innovation in sustainable technologies and deploying them at a global scale; and
Decentralized, public, and secure verification of renewable energy production and transaction data and lowering administrative costs.

As a result, Swytch will serve as a compelling
solution to layer onto existing markets for verified
renewable energy production & consumption.
Improving upon existing programs will further drive
adoption in key segments, including:

Corporate sustainability programs; programs who wish to hold Swytch Token as proof of offset or as a means of investment in future renewable asset development;
Environmentally conscious consumers who wish to use tokens to fund sustainable services and/or engage in the community; and
Governmental entities, including “smart cities” who wish to hold tokens as a reserve for local sustainability tokens or to stake into the “oracle” for modelling and data consumption purposes.

Team

Kent Larson member of Swytch ICO
Kent Larson
MIT Media Lab – Director, City Sciences
Tony Seba member of Swytch ICO
Tony Seba
Stanford University – Clean Energy Expert
Brad Hardin member of Swytch ICO
Brad Hardin
CTO, Black and Veatch
Peter Hirshberg member of Swytch ICO
Peter Hirshberg
Principal, Maker City Project
Thomas Hardjono member of Swytch ICO
Thomas Hardjono
Technical Director, MIT Internet Trust Consortium
Curt Lefebvre member of Swytch ICO
Curt Lefebvre
CEO, nDimensional
Samuel Visscher member of Swytch ICO
Samuel Visscher
Founder, Fish & Bits B.V. Blockchain & Software Engineer
Richard Kastelein member of Swytch ICO
Richard Kastelein
Founder, Blockchain News Writer, Publisher, & Entrepreneur
Mickey McManus member of Swytch ICO
Mickey McManus
Visiting Research Fellow at Autodesk, Senior Advisor at BCG, Co-Author, Trillions
Evan Caron member of Swytch ICO
Evan Caron
Cofounder and Managing Director
John Redpath member of Swytch ICO
John Redpath
Cofounder
John Clippinger member of Swytch ICO
John Clippinger
Cofounder and Head of Token Innovation
Andrew Pearsons member of Swytch ICO
Andrew Pearsons
Managing Director
Youngsook Park member of Swytch ICO
Youngsook Park
VP of Business Development
Eric Miller member of Swytch ICO
Eric Miller
Director of Product and Lead Blockchain Developer
Shawn Harmsen member of Swytch ICO
Shawn Harmsen
Senior Fullstack Developer

Milestones

  • 1

    Q2 2017

    Token Commons Foundation formation Initial Funding Swytch Development partnerships and technology development

  • 2

    Q4 2017

    Core technology partnerships Design and Build Proof of Concept, Dashboard, data estimator and Pilots

  • 3

    Q1 2018

    Germany Energy aggregation pilot completion Additional fund raising round complete Core technology development, IOT security and team growth

  • 4

    Q2 2018

    Complete additional POC's with partner cities Oracle AI refinement for DACM (Adaptive Module) Oracle Consortium development

  • 5

    Q3 2018

    Pro-consumer residential token generation Oracle open source International Partnerships growth and scale.

  • 6

    Q4 2018 and Beyond

    Trusted IOT device protocol integration Government and corporate engagement

Financial

Token Info
Token SET
Token Type ERC20
Platform Coincart
Price in ICO 1 SET = 0.50 USD
Tokens for Sale 200750000
Investment info
Accepting BTC, ETH
Distributed in ICO 55%
Soft cap None
Hard cap 60,000,000 USD

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