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
Greenhouse gases, and especially carbon dioxide (CO2), trap heat in the atmosphere resulting in climate change. For the last 30 years, governments have tried to incent people to do the right thing and reduce CO2/greenhouse gases. These efforts have failed.
Yet CO2 is everyone’s problem. And everywhere’s challenge.
To encourage everyone to act in the planet’s best interest and, of course, their own, we created Swytch.
Swytch is a blockchain-based platform that tracks and verifies the impact of sustainability efforts and actions on the worldwide level of C02 emissions.
Leveraging our Open “Oracle” technology that acts as a distributed authority, Swytch awards tokens to people, companies, and other organizations that make a meaningful and measurable difference in reducing the emissions that endanger our planet…and our future.
HOW IT WORKS
Swytch establishes a reward-based system that acknowledges the efforts of all those who embrace and support sustainability by the actions that they take. Big or small.
The easiest way to start earning Swytch tokens is by generating renewable energy.
As the Swytch network grows, consumers and businesses will be able to earn Swytch tokens by participating in additional sustainability actions, such as lower energy usage or driving an electric vehicle.
BENEFITS OF SWYTCH
Creates a truly global carbon market where today none exists
Incentivizes infrastructure development in markets that are more dependent on fossil fuels
Rewards individuals and organizations for making solid economic and globally responsible decisions