Light emitting diodes also known as LED is a semiconductor device which serves as a source of lighting (low-intensity infrared light) when an electric current is launched through it. As modern day inventions focus more on efficiency and solving real-world problems, LEDs isn’t an exception. Comparatively, using LEDs saves money, lasts longer and uses less energy. In the early days of LEDs, they were commonly used for indicator lamps as a preferred alternative to incandescent bulbs. Recently, we’ve seen a wide spread of LED usage ranging from the production of lighting systems apposite for rooms, the introduction of better displays (e.g. Screens) and sensors and also applicable in modern day communications technology
TeraWatt embarks on an adventure to exploit the potentials of the LEDs and also leverage the blockchain technology to solve real-life problem hindering the operations of individuals and cooperates and also making the world a better place to live.
The adoption of LED lighting technology has shown remarkable performance for the past years in some part of the world, most specifically states in the United States of America. The cost of switching to LED will probably be around $5 or less and could possibly help save as much as $130 in energy costs throughout the bulb’s lifespan. Simultaneously, this change also leaves a positive impact on our environment. Cities like Seattle and Minneapolis tops the chart of the list of cities adopting to the usage of LED as lighting choice in the U.S.
Issues of greenhouse effect, exorbitant electricity bills, funding and several others arises when considering LED adoption. However, with the aid of the blockchain technology TeraWatt will be able to address these problems by implementing a DAO (Decentralized Autonomous Organization) and issuing a cryptocurrency that will allow for other business entities and individuals execute transactions virtually and securely.
The DAO is more or less a conceptual organization that make use of Ethereum smart contract to carry out all business processes. This awesome initiative allows for token holders (could be seen as stakeholders) to make the organization’s decisions via a voting system, ensures trust and transparency. On the other hand the DAO makes provisions for business organizations and consumers to upgrade their current lights to LEDs. There will also be a free trial for other utility companies to experience the power of the DAO with the motive of drawing more people on board to positively influence the usage of the system.
Furthermore, the deployment of a cryptocurrency i.e. LED token will power and support the day to day operation of the DAO. This is an Ethereum based token and as such its guarantees swift, secured and private payment transactions between users (businesses, consumers and utility providers). The TeraWatt team have future plans that will drive the usage of its LED token to being a preferred currency globally due to its going to be more deflationary than FIAT money.
TeraWatt is also going to buy back and burn LED tokens from circulation supply which will significantly decrease the supply and concurrently raising the value of the token. A whooping fifty to seventy percent (50% – 70%) of their profit(earned from fees ranging from the DAO’s entry/exit fees, profit taking fees, Carbon tax data storage fees, carbon credits, and also from affiliate LEDs sales commissions) is scheduled for this regular operation.
In a nutshell, TeraWatt has good things in store and ready to revolutionize our lighting industry. They seek to reduce global electricity consumption drastically and at the same time increasing lighting output by around 50% in due course. As a believer, I know TeraWatt has what it takes to achieve its short and long term goals considering their team of expert of top notch industries, strategic advisors with excellent track record in the crypto space and above all, the project is privileged to be supported by a strong community, won partnership deals with other reputable blockchain firms, utility companies and other cooperate.
This is a project that none would want to miss out as early adopters. Other relevant resources have been provided for further inquiry and reading.
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