Terawatt (LED) ICO Review – ICO Token News
Terawatt is a patent-pending, renewable energy blockchain startup, with a strong focus on monetization and driving global L.E.D. adoption. Terawatt will create a DAO , and also a deflationary Ethereum-based, private (zk-SNARKS) currency for global payments. The DAO will be funded and used by Utility Companies, L.E.D. Sellers, Businesses, token holders, and energy customers worldwide. The DAO will act like a decentralized global insurance fund to ensure Utilities (and businesses) always have access to funding (which constantly runs out) for subsidizing L.E.D. sales to their energy customers (or for businesses and people to overcome the upfront cost of upgrading to L.E.D.s).
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.
Money is the second most important thing human beings have invented, after language. More than just a way of buying things, currency is a symbol of trust. Until now, that trust has relied on central authorities, like banks, for verification. We no longer need those monolithic entities thanks to cryptocurrencies like Bitcoin. Ethereum, like Bitcoin, is a cryptocurrency and, like other cryptocurrencies, Ethereum is built on a blockchain.
What makes Ethereum different, however, is that it has been designed as a platform for ‘smart contracts’, allowing anyone to create a trust agreement without requiring middlemen. Bitcoin was designed to be both a currency and asset. Its blockchain can also be used for other forms of transactions or contracts, but it isn’t easy to build out these applications yet. Ethereum, on the other hand, was designed for contracts from the get-go and makes it easier for developers to build applications accordingly.
Enter the DAO
With Ethereum gaining traction, the scene was set for a new kind of organisation. The DAO uses Ethereum smart contracts to power everything from its funding to how it pays people for the work they do. Like a traditional company, the DAO is built for profit. It is seeded via the sale of ‘DAO tokens’ during the crowdfunding period ending 28 May 2016.
The tokens empower whoever holds them to vote on what the organisation will do. If we use familiar terms to describe the DAO, you could think of tokens as ‘company equity’ and token holders as ‘shareholders’. While not entirely accurate in conventional business terms, substituting those words when you read the rest of this article may be useful. What the company actually does is up to the token holders. New ideas are presented to the DAO in the form of proposals. Token holders then vote on proposals and, if approved, contractors will be allowed to compete for work on the resulting projects.
Why invest in this DAO?
High probability of making profits, to direct the funds via voting on community proposals, and to help drive global L.E.D. adoption The Terawatt token supply will rapidly and exponentially decrease with a continuous coin burning algorithm. Terawatt will automatically use 50-75% of company profits earned from DAO entry/exit fees, profit taking fees like an exchange, Carbon tax data storage fees, carbon credits, and also from affiliate L.E.D. sales commissions to buyback and burn (LED) ICO Tokens. This is similar to the BNB token, but they only burn every quarter. We will burn continuously.
Who can join the DAO?
All interested businesses and consumers, not just utility providers, can buy LED tokens and participate in the DAO. This will help increase the network effect (Metcalfe’s Law) Now we have a growing decentralized fund as more and more token holders join. 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 experience F.O.M.O (fear of missing out).
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 seller and add the transaction to the blockchain. Smart contracts will execute and manage the entire process.
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- Evan WilliamCEO
- Morris H. Layton IIICOO
- Jerome RaymondCTO
- Hase TakujiraAdvisor/Developer
- Shubham TatvamasiDAO Architect/Advisor
- Roy DaveyLead Engineer
- Jules De SmitDeveloper
- Jacob SalvadorAdvisor/Marketing
- Dr. David MeszarosLegal
Project Conception, Whitepaper drafted, Patent Filed
- 2Dec 2017
Team Building- Acquired CTO, COO, and Advisor
- 3Jan 2018
Whitepaper/Website, Trademark Granted, Listed on KICKICO
- 4Feb 2018
Building Presence, Token Presale site under development
- 5June 2018
Private Sale Launch, Development
- 6July 2018
- 7Sep 2018
- 8Oct 2018
DAO construction begins, Exchange Listing(s), Hire more Devs
- 9Nov 2018
Acquire key partnerships and meet with more Utility companies
- 10Jan 2019
Mobile Wallet release, continue development
- 11Feb 2019
Masternode and DAO testnet
- 12Mar 2019
Fully Functional User Interface Released, DAO Mainnet Online
- 13Apr 2019
Devcon and Acquire More Partnerships
- 14May 2019
Receipt Verification/Tax Incentive Utility/LED Token Development
- 15Jan 2020
Expansion of Terawatt’s LED Ecosystem into related sectors