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The World Energy Market: Outlook and Challenges
What Problems Does Bittwatt Solve?
An overview of BittwattMISSION
The Bittwatt platform
The Bittwatt business model
Token and Protocol design
The token lifecycle
Proceedings of funds
Products and services
Objectives and cashflow
Company Ownership / Legal Entity
The World Energy Market: Outlook
Our global energy landscape is changing. Traditional centers of demand are being overtaken
by fast-growing emerging markets, all the while technological advances and environmental
concerns are shifting the world’s energy mix. Now - more than ever – the energy industry must
adapt in order to successfully fulfil our need for sustainable power.
What we are witnessing nowadays is a shift from the more traditional pillars of the energy
sector - such as coal-fired power plants and onshore oil and gas fields - to an energy sector
where hydropower and other renewable energy sources provide significantly larger shares
for market consumption. With the world’s net electricity production forecasted to grow by
45% to a total of 34 trillion kWh in 2040, latest macroeconomic analyses focus on five main
challenges that endanger the energy ecosystem:
Maintaining a balanced and diversified energy mix;
Assuring further development of...
World energy consumption by energy source - Quadrillion Btu
While each market member has its own unique set of requirements and products, the
electricity market can be structured into the following categories of participants:
• Electricity market operators
• Transport and system operators (TSOs)
• Distribution system operators (DSOs)
• Electricity traders
• Final customers.
With respect to the nature of electricity and trading market frameworks:
producers may generate more or less energy than estimated and sold;
customers may consume more or less energy than contracted;
• and traders may buy more or less energy than they have sold.
Such cases, known simply as energy imbalances
, are instances where energy is (in effect)
bought from or sold to the NGTS
. For each trading period two
are used to
settle such differences. Electricity balancing arrangements, and in particular cash-out prices,
provide incentives for producers and suppliers to invest in secure supplies and better
positions in order to meet demand, especially when the systems are stretched to their limits.
They are therefore pivotal to securely deliver the electricity in a competitive market. In
particular, we expressed concerns that cash-out prices are not providing the correct signals for
the market to balance itself, thus increasing supply security risks and undermining balancing
processes’ efficiency, ultimately increasing costs unnecessarily.
That being said, one of today’s major issues is that service balancing mechanisms are overly
complex, inaccessible to certain segments of...
What Problems Does Bittwatt Solve?
As things stand today, the current energy ecosystem is built around the exchange of what is
essentially unstructured information. This means that literally countless types of documents
are used to either sell or buy electricity, and an increasingly large number of commonplace
processes (be them back or front-end) are in truth redundant, and lead only to higher prices.
Despite electricity exchange being regulated in nearly all of the world’s countries, in real-
world situations what we see is the buildup of significant latencies. Case in point:
• Energy exchanges between traders (or producers) and suppliers (B2B) take days for
validation and completion to be completed, and there is no decentralized market where
these can take place.
• There is no market for smart-consumers (B2C) from where they can a) transact unused
energy supplies and b) choose and switch suppliers based on pre-selected criteria.
• Reporting electricity consumption from suppliers is done ...
It’s because of all of these reasons that prices increase. With energy transit slowed-down or
even inaccessible as a real option (due to temporal, financial, or bureaucratic constraints),
what all parties in the ecosystem face is a gradual yet unpredictable increase in costs. From a
technical perspective, this can be summed up simply in that the ecosystem is devoid of a smart
• In terms of grid pressure (which is to say that production cannot be adapted to the demand
in the system), and
Commercial implications (no decentralized market exists so as to keep supply offers and
request together in order to enable fast switching)
This lack of adjustability, increases costs dramatically for suppliers of energy (imbalances costs
up from 300-400% from normal levels), creating a snowball effect that eventually hits end-
This is the problem we are fixing.
An overview of Bittwatt
We envision a world of smart-consumers in a sustainable energy system with minimal costs for
Our mission is to be the first international platform to integrate and facilitate cooperation
between all market operators for the benefit of the consumer.
So as to achieve these, we are committed to:
• creating a blockchain enabled energy trading market that is simple, transparent and
delivers more value to all its users.
• expanding globally (London, Bucharest and Singapore being already under development).
THE BITTWATT PLATFORM
We are now changing the way we operate electricity systems by building a smart, flexible
system that makes the most of all energy sources and enables us to exceed our customers’
needs in a balanced and financially efficient ecosystem that learns and evolves.
For this purpose, we have started developing a new marketplace for electricity balancing and
We aim to deliver this completely new and highly cost-effective energy ecosystem fully by
The platform will be accessible to everyone in the industry – regardless of size – running new
technologies alongside industry standard applications. This market framework is designed to
empower users (producers, suppliers or traders) in applying balancing processes, and requires
little intervention from Bittwatt as a System Operator (SO).
08 Jun 2017
08 Oct 2017
Business Plan Preparation
10 Nov 2017
Business Plan Confirmation
20 Dec 2017
Final design protocol
08 Jan 2018
01 Feb 2018
08 Mar 2018
01 Apr 2018
01 Jun 2018
Final Smart contract protocol
01 Nov 2018
Bittwatt App for Smart Consumer
01 Nov 2018
Bittwatt App for Smart Operators
01 Jan 2019
Bittwatt marketplace (B2B and B2C)
08 Jun 2019
Bittwatt international integration
08 Nov 2019
Exchange Fiat and Cryptocurrency
08 Jun 2020
Final Integration of the platform