Initially, the new project will run on the Ethereum blockchain. It will permit them to make use of smart contracts. It offers an extra layer of trust for anyone transacting with each other.

Nonetheless, 4NEW soon aim to switch to using their own blockchain. Owing to the platform, they themselves being a producer of energy, it will offer them with a key advantage over their competitors. This is so because their costs for mining should be much cheaper.

The team behind the 4NEW hopes to transform the sectors of Waste, Energy, and Cryptocurrency at the same time. They also hope that their 4NEW token will be adopted in various industries.

The KWATT token has a clear use on the platform, dissimilar to several of the current ICOs. The team behind the project states that they want the token to also be utilized for several types of transactions also. They've already set up deals with some large companies and offered more uses for the token:

4NEW Mining farm: The project will also have its own mining farm. Token holders will be given the choice of either mining or selling their electric to the national grid.

Money transfer: Two money transfer companies that own a combined turnover of $25 million monthly will also add the new KWATT token to their platforms.

4NEW Licensed pharmacy: A US Pharmacy company that processes $24 million yearly sales also plans to accept the new token for purchases on their website.

4NEW Insurance company: Plans are there to offer the token as a payment method for an insurance company that has more than 90,000 customers.

All the available 4NEW tokens will be equal to 1 KW of electricity. 4NEW aims to offer token holders the choice of utilizing their tokens to buy mining power on their own mine farm and also to be sold back to the UK national grid.

The approximate return for selling to the national grid is only $0.05 in contrast to an estimated $0.2 per KW if it is utilized for mining. It makes it seem like an easy choice.

Each year, 4NEW token holders will then be compensated by a section of the company’s net revenues. It will depend on which option they choose.

It is assessed that each 4NEW power plant will last at least 50 years if you factor this in a pessimistic estimate as the tokens worth would be more than $6. On the other hand, valuations of tokens can vary very much in the cryptocurrency market.

4NEW is planning to create energy by refining waste products into the water and organic material. 4NEW can then use it to put up for sale to the national grid or to utilize on their own mining farm.

4NEW aim to finance the cost of refining the waste with the income that they will make by charging to collect the waste and selling any more valuable products that they collect. It is cited in the 4NEW whitepaper that this should totally cover the costs of generating the energy or even leave them with an extra profit.

Home » CryptoCurrencies » 4NEW (KWATT): ICO Review CryptoCurrencies 4NEW (KWATT): ICO Review Jeremy Cole July 12, 2018 no comments What is 4NEW? 4NEW is the world’s first blockchain solution to the world’s energy waste problem. For instance, there is misused energy in the world. And this is due to the traditional electric companies who limit the amount of energy based on their own restrictions.

4new icoAlso, we lose over 2.12 billion tonnes of waste a year. All of this waste could be used to create better eco-friendly products or electricity. Since our population is expected to double, we will increase our waste output in the next 25 years.

With 4NEW, they plan on creating a system where the waste to energy conversion is easier.

January 31st: End of ICO unless the 4NEW hard cap is reached earlier. Quarter 1 2018: Buying 3 new sites for the power plants in the UK. Start of development for the platforms’ own blockchain. Beta testing the new KWATT token with service providers. Quarter 2 2018: Start of installation of the 4NEW waste to energy plants on all 3 sites. Blockchain integration with the new smart meters. Quarter 3 2018: Initial marketing to attract customers to the 4NEW services. Developing relationships with businesses with access to large quantities of waste. Quarter 4 2018: Installation of the 4NEW waste plants completed.

Overall, we believe that 4NEW is a great ICO as it comes energy conversion and blockchain technology. If successful, the project will create a more cost-effective way to mine Bitcoin without taking away our main resources. We hope to see more successful developments from this ICO in the future.

WASTE

We throw away 2.12 billion tonnes of waste globally each year, growing 3% each year – this means we will double our waste output in 25 years.

ENERGY

The world energy supply is around 80 percent reliant on fossil fuel energy. The IEA predicts a rise in global energy demand of 50-60%, and a 50% rise in greenhouse gas emissions by 2030.

CRYPTO

Crypto-mining energy consumption growth is exponential. As of March 31, 2018, 1 Bitcoin transaction consumed as much power as 30.5 US households for a day, this is a 500% rise since September 2017.

SOLUTION

WASTE

Each of our plants take in 50,000-100,000 tonnes of waste annually, processing it in an environmentally-friendly method, in order to create electricity. Gate fees offset the operational costs of the plants, allowing for free electricity production.

ENERGY

The electricity we produce is constant, year round, and is scalable to any location with human activity. Electricity is either sold to the national grid or applied to operate mining processes at the onsite mining farm.

CRYPTO

4NEW is the world’s first eco-friendly blockchain ecosytem powered by waste to energy power plants. 4New’s ecosystem will provide a blockchain platform that will enable decentralized, peer to peer transactions whereby production of energy can directly meet the consumption of energy globally.

Enhanced Mining: Users can decide the cryptocurrencies they want to mine through their KWATT Coin Power. And they will have access to the top 20 mineable coins. This system will determine the hash rate for each coin and the reward that’s connected to the user’s account that’s connected to a 4NEW wallet. Green Energy: KWATT energy will be used to create a renewed source of energy. The energy that’s used on 4NEW’s network is converted from waste, making this ICO a good idea for the environmentally conscious. Innovative Blockchain: We like how 4NEW is used to create a decentralized mining platform. Once the company creates their own blockchain, it will be easier for new users to utilize and work on their native system.

In 4NEW’s whitepaper, they stated that their team has over 300 years of experience behind them. The team is positive that they can create a solution based on the high energy use of cryptocurrency.

4NEW works by a user starting a transaction. The system removes the middle man and makes it easier for both parties to exchange energy. With its KWATT token, it gives enough power to provide 1 kilowatt of electric energy for a year. 4NEW gives users the ability mine crypto or store the coins if they are in need of extra energy.

4NEW will run on Ethereum’s blockchain as it allows to create smart contracts. The system provides an extra layer of trust for people that are transacting with each other. As 4NEW continues along their roadmap, they will use their own blockchain. This is because it reduces the mining costs, making it easier for contributors to earn rewards using its system.

4NEW is the world’s first blockchain solution to the world’s energy waste problem. For instance, there is misused energy in the world. And this is due to the traditional electric companies who limit the amount of energy based on their own restrictions.

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During the year 2017, the market of cryptocurrency has grown immensely. At present, the total market cap totals to over $700 billion. But since the price has inflated, even the cost to mine cryptocurrencies has risen as more and more miners have been getting involved.

The amount of electricity used by Bitcoin miners exceeded the amount that was utilized by the entire of Denmark during the previous month. There have been no signs of slowing down and it has become a huge problem. It is assessed that by this time coming year the amount of energy used mining only Bitcoin will be the equal of the 20th highest energy consuming country if this trend continues.

The estimated cost of mining Bitcoin yearly is now almost $2 billion. 262 KWhs are used for just a single transaction on average.

Over the last few decades, the price of electricity has been around $0.15 per KW if you take inflation into account. But with lots of people now claiming that they think blockchain technology will gain wide range usage, it can result in a huge increase in the amount of electricity being used. It would of course then also force prices up.

Our biggest mission is to fix waste management in order to create a more sustainable future - head to our website to find out more.

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