Swytch

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Swytch
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Swytch ICO Review
Swytch ICO
Ticker: SET
ICO start: 2018-06-12 00:00:00
ICO end: 2018-07-12 00:00:00
Price: 1 SET = 0.50 USD
Bonus: 1
Tokens: 200750000
Tokentype: ERC20
Hardcap: 30,000,000 USD
Softcap: None
Raised: 0
Platform: Coincart
Distributed: 55%
Accepting: BTC, ETH

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.

Description[edit]

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.

Review[edit]

Q2 2017: Token Commons Foundation formation Initial Funding Swytch Development partnerships and technology development
Q4 2017: Core technology partnerships Design and Build Proof of Concept, Dashboard, data estimator and Pilots
Q2 2018: Germany Energy aggregation pilot completion · Additional fundraising round complete · Core technology development, IOT security, and team growth.
Q3 2018: Complete additional POC's with partner cities · Oracle AI refinement for DACM (Adaptive Module) · Oracle Consortium development.
Q4 2018: Pro-consumer residential token generation pilots · Oracle open source · International Partnerships growth and scale.
Q1 2019 And Beyond: Trusted IOT device protocol integration · Government and corporate engagement.[1]

Team[edit]

name: title: links: group: photo: iss:
Kent Larson MIT Media Lab – Director, City Sciences https://www.linkedin.com/in/kent-larson-536079a/ Advisors
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Tony Seba Stanford University – Clean Energy Expert https://www.linkedin.com/in/tonyseba/ Advisors
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Brad Hardin CTO, Black and Veatch https://www.linkedin.com/in/bradhardin/ Advisors
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Peter Hirshberg Principal, Maker City Project https://www.linkedin.com/in/hirshberg/ Advisors
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Thomas Hardjono Technical Director, MIT Internet Trust Consortium https://www.linkedin.com/in/hardjono/ Advisors
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Curt Lefebvre CEO, nDimensional https://www.linkedin.com/in/curt-lefebvre/ Advisors
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Steve Jurvetson Venture Capitalist https://www.linkedin.com/in/stevejurvetson Advisors
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Marcia Kadanoff CEO, Maker City Project https://linkedin.com/in/marciak Advisors
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Mickey McManus Visiting Research Fellow at Autodesk, Senior Advisor at BCG, Co-Author, Trillions https://www.linkedin.com/in/mickeymcmanus/ Advisors
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Marc Weinstein Venture Partner, Distributed Network Advisors https://www.linkedin.com/in/marc-weinstein-59a3387/ Advisors
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Evan Caron Cofounder and Managing Director https://www.linkedin.com/in/evancaron/ Team
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John Redpath Cofounder https://www.linkedin.com/in/john-redpath-1803a37a/ Team
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John Clippinger Cofounder and Head of Token Innovation https://www.linkedin.com/in/john-henry-clippinger-5ab1b/ Team
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Andrew Pearsons Managing Director https://www.linkedin.com/in/andrew-pearsons-2219079/ Team
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Youngsook Park VP of Business Development https://www.linkedin.com/in/youngsook-park-14237144 Team
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Eric Miller Director of Product and Lead Blockchain Developer https://www.linkedin.com/in/eric-miller-5948aa12/ Team
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Shawn Harmsen Senior Fullstack Developer https://www.linkedin.com/in/shawnharmsen Team
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Troy Martin Director of Compliance and Governance Team
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Chris Griffith Senior Full Stack Developer https://www.linkedin.com/in/christopherdgriffith/ Team
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Luke Filipos Lead UX Designer https://swytch.io/linkedin.com/in/lfilipos Team
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External links[edit]


Swytch on twitter
Swytch on telegram
Swytch on facebook
Swytch on medium
Swytch on github
Swytch on reddit
Swytch on youtube
Swytch official website
Swytch whitepaper

Sources[edit]

  1. https://swytch.io/

See Also on BitcoinWiki[edit]