Energy for all is a global priority. An estimated 1.2 billion people lack access to electricity or roughly 17% of the world’s population. There needs to be a cheap and clean option. One which is affordable and one that does not increase the carbon footprint.
One solution powered by Blockchain and the Internet of Things (IoT) has been developed by Bitlumens.
Bitlumens is building a decentralized, blockchain-based micro power-grid for the 1.2 billion people without access to electricity and banking. Bitlumens brings electricity from renewable sources using IoT and the Blockchain. Thanks to solar energy and Bitlumens technology, people can use electricity, charge their electrical appliances and even water their crops.
Off grid communities lease Bitlumens hardware and pay in installments denominated in BLS tokens. This allows them to build a credit score leading to financial inclusion and get access to microloans backed by BLS.
Solar Home System (SHS)
The Bitlumens Solar Home System (SHS) will initially use a 15/20/50W solar panel and 3000 mAh, Lithium Ferro-Phosphate (LFP) Battery. Bitlumens will sell 3 systems coming with different appliances, i.e. two USB charging ports; integrated dimmable LED lights; LED Backlit LCD TV; Radio and TV. The battery should last for 5 years and the system has a minimum 2-year warranty.
The system must provide to the final user: available credit, battery availability, electricity consumed, lighting duration, daily cost, and energy output. The data will be sent to the network on a daily basis between 7-10pm.
Bitlumens will provide cooperative banks with key pieces of information they require to open an account or facilitate financial services. Each user will be able to have their own ID and credit history. This information can be shared with third parties offering microlending solutions, governments and development banks. Users can get access to microcredits backed by BLS by paying a specific interest rate.
The system will be comprised (at minimum) of the following components:
- A token creation smart contract (Ethereum)
- A utility billing system contract (Ethereum)
- IPFS (hash-based decentralized file storage)
- A centralized server to hold fingerprint data and notarize identity
- requests (approve/refuse)
- smart meter
To access and use Bitlumens software, BLS tokens are needed. The tokens serve multiple purposes: villagers need them to pay the installments of their solar power device, banks need them to access the Bitlumens SaaS (Software as a Service), and family members use the tokens to send remittances.
Since most villagers do not have Internet access to pay digitally their Solar Home Systems, Bitlumens employs agents who will collect the payments in cash and buy a corresponding amount of BLS tokens from the open market. The BLS will then be uniquely associated with the solar power device.
The BLS token is an ERC20 token based on the Ethereum blockchain. It does not represent equity in the company. Since every participant in Bitlumens ecosystem will need to buy BLS from the open market, the demand for BLS will increase as the business scales.
To assess the risk of each household, Bitlumens’ agents collect KYC information from each customer and feed the risk model with that data. The agents distribute and install the machines at the client’s house. The machines are leased for a period a period of 12 to 24 months. The client makes the lease payments in BLS tokens. If needed, the client can purchase the BLS tokens for the lease payment from the agent. If lease payments are not made when due, the machine is locked until the payment is made. If users receive remittances from family members to cover a lease payment, Bitlumens charges a 1% transaction fee.
Bitlumens registers the load profile of each machine that is in use. Token holders can monitor these profiles on the blockchain. Thus, they can see the evolution of the project and its environmental and social benefits.
Pre-ICO Price: 1 BLS = 0.0007 ETH
ICO Price: 1 BLS = 0.001 ETH
Total Supply: 50,000,000 BLS
Soft Cap: $1,000,000
Hard Cap: $25,000,000
The Pre-ICO ends at midnight CET on June 18. The ICO starts on June 19 at midnight CET and goes on for 28 days. On the first day of the ICO BLS tokens are priced at 1.5 BLS/USD. Between the 2nd and the 7th day, the price is 1.4 BLS/USD and between the 8th and the 14th day the price increases to 1.3 BLS /USD. Finally, during the last 14 days of the ICO, the price is 1.2 BLS/USD. The ICO will terminate early if an equivalent USD 25 million is raised.
Bitlumens is indeed one of the most ambitious blockchain projects we have seen and one with enormous potential. Considering the strong need for a clean and affordable energy option for the 1.2 billion people without electricity, Bitlumens could be the energy miracle that so many are looking for. For more information, check out the Bitlumens website, white paper, and Telegram.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
VOLUM (VLM) Announces Commencement of Token Generation Event
ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.
Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.
The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.
“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…
How to Secure Yourself in Relation to Bitcoin: Top VPN Services
Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.
Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.
What is a VPN?
Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.
While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.
Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…
Is it legal to gamble in Bitcoin casino?
Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.
Key facts on Legality in Bitcoin casinos
Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.
The necessity of Gambling License for Bitcoin casinos
In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.
There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…
3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences
Three of the Best Crypto-Friendly Currency Accounts for 2019
Why Binance May Be Crucial for Tron (Trx) to Reach $1
Blogs2 weeks ago
Crypto Billionaire Predicts Massive Price Growth by 2021
Altcoins1 week ago
Justin Sun Bullish On TRX and BTT
Altcoins3 days ago
Why Binance May Be Crucial for Tron (Trx) to Reach $1
Altcoins3 days ago
Why Tron (TRX) Price Won’t Remain Low for Long
Bitcoin7 days ago
4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now
Trade1 week ago
eToroX launches gold and silver stablecoins
Hot Updates1 week ago
Social Gaming Platform Offers Crypto Community Unrivalled Multi – Gaming Experience with Fair Odds
Altcoins1 week ago
XRP Continues to Struggle Despite the Bullish Market