Previously scheduled for 25 January, blockchain energy company KWHCoin announced that its Initial Coin Offering (ICO) is now scheduled to launch on 8 February 2018.
The announcement reported that 10% of all funds raised would be targeted to directly fund microgrid development and off-grid technologies in Africa, South America, Southeast Asia and the Caribbean.
“We see blockchain as a liberation technology that can help us lower costs and improve access to renewable energy for the 1.2 billion people around the globe without electricity,” said KWHCoin’s CEO, Girard Newkirk.
“With a business model that emphasises decentralisation and autonomy as guiding principles, KWHCoin’s energy platform can help weaken the world’s dependence on fossil fuels.”
KWHCoin had raised $1.1 million in a two-day private pre-sale held in late December from a community of clean energy advocates and cryptocurrency enthusiasts.
KWHCoin ICO information
The company’s ICO will launch at 12pm PST on February 8, 2018 whereupon the stated price for each KWHCoin will be determined by market demand.
Founded in August 2016, KWHCoin is building a Blockchain-based renewable energy platform called The Grid.
The company, which aims to attract a total supply of 195,000,000kWh tokens, will host an AMA (Ask Me Anything) for potential contributors with CEO Girard Newkirk on 1 February.
Backed by equivalent measures of deliverable kilowatt hours of clean, renewable energy aggregated from local distribution sources (smart meters, sensor readings, and Green Button data), The Grid will enable anyone worldwide to buy or sell renewable energy resources.
As this digital economy grows, it will serve as an incentive and compensation model that can lower the cost of solar, encourage investment in distributed energy resources, and help usher in the transition from fossil fuels to renewables. Read more: Blockchain investor has faith in Bitcoin currency
The company’s key differentiator is its focus on serving the so-called “edges” of the world’s current energy economy, including residential solar, electric vehicles, microgrids and wind farms.
These comprise the elements of a new two-way generational model of energy distribution, presenting a great opportunity for local communities to directly participate in the renewable energy economy of the 21st century. For these local communities the opportunity to sell their own excess renewable energy to others using The Grid has the potential to usher in true energy independence.
“KWHCoin has been developed for mass adoption and is designed to become the leading digital currency for the emerging Internet of Energy,” said Newkirk. “By lowering the cost of renewable energy transactions, KWHCoin will allow renewable energy to expand and bring newfound power to the farthest reaches of the world.”
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